Quarterly report pursuant to Section 13 or 15(d)

Notes and Other Receivables

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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):

 

    June 30,
2016
    December 31, 
2015
 
Notes receivable   $ 900     $ 900  
Other receivables     344       440  
Total Notes and Other Receivables   $ 1,244     $ 1,340  

 

Note Receivable

 

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

 

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.