Notes and Other Receivables
|6 Months Ended|
Jun. 30, 2016
|Notes and Other Receivables [Abstract]|
|Notes and Other Receivables||
Note 5 - Notes and Other Receivables
Notes and other receivables at June 30, 2016 and December 31, 2015 consisted of the following (in thousands):
On July 17, 2014, the Company loaned $900,000 to a third party pursuant to the terms of a promissory note. The promissory note’s extended due date is September 30, 2016. The promissory note accrues interest at a rate of 8% per annum. The Company and the third party are negotiating an extension of the note.
Other receivables primarily consist of receivables for cooperative reimbursements from vendors; marketing development funds from vendors; interest receivables; and revenue earned under contracts in advance of billings.
The entire disclosure for financing receivables. Examples of financing receivables include, but are not limited to, loans, trade accounts receivables, notes receivable, credit cards, and receivables relating to a lessor's right(s) to payment(s) from a lease other than an operating lease that is recognized as assets.
Reference 1: http://www.xbrl.org/2003/role/presentationRef