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Debt Financing
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6 Months Ended |
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Apr. 01, 2012
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| Debt Disclosure [Abstract] | |
| Debt Disclosure [Text Block] | Note 5 - Debt Financing
Credit Facility – Avidbank
On March 22, 2011, Optex Systems Holdings, Inc. amended its revolving credit facility with Avidbank, which provided up to $1 million in financing against eligible receivables. The line expired on March 15, 2012 and as of April 1, 2012, the outstanding balance on the line of credit was $0. For the three months and six months ended April 1, 2012, the total interest expense against the outstanding line of credit balance was $7 thousand and $17 thousand, respectively. For the three months and six months ended April 3, 2011, the total interest expense against the outstanding line of credit balance was $30 thousand and $53 thousand, respectively.
On April 16, 2012, the Company amended its revolving credit facility with Avidbank. The new renewable revolving maturity date is April 15, 2014. See Note 8 – Subsequent Events for a further discussion of this credit facility amendment. |