Quarterly report pursuant to Section 13 or 15(d)

Subsequent Events - Loan with Encina Business Credit, LLC - Additional Information (Details)

v3.20.2
Subsequent Events - Loan with Encina Business Credit, LLC - Additional Information (Details)
1 Months Ended 3 Months Ended 7 Months Ended 9 Months Ended
Jul. 14, 2020
USD ($)
Borrower
Aug. 31, 2020
Jul. 31, 2020
Jun. 30, 2020
May 31, 2020
Jul. 14, 2023
USD ($)
Jan. 31, 2021
Jun. 30, 2020
LIBOR                
Subsequent Event [Line Items]                
Interest rate during period       8.75% 8.75%      
LIBOR | Scenario Forecast                
Subsequent Event [Line Items]                
Interest rate during period   8.75%            
Subsequent Event | LIBOR                
Subsequent Event [Line Items]                
Interest rate during period     8.75%          
Encina Business Credit, LLC                
Subsequent Event [Line Items]                
Revolving credit conversion to term loan, description               one-month London interbank offered rate (“LIBOR”) plus the applicable margin
Interest rate description               The applicable margin ranges from 4.50% to 5.50% per annum (subject to a LIBOR floor of 1.00%) and is determined based on a pricing grid based on the Borrowers’ inventory-to-accounts receivable availability ratio and average Revolving Loan excess availability. The applicable margin through January 31, 2021 is 5.50%. The Term Loan bears interest at an interest rate equal to LIBOR plus 6.50%.
Commitment fee description               during the three months preceding the Scheduled Maturity Date, no early termination fee will be payable so long as Borrowers provide at least 90-days’ prior written notice to Agent of such proposed Revolving Loan Commitment termination
Encina Business Credit, LLC | Scenario Forecast                
Subsequent Event [Line Items]                
Early termination fee           $ 0    
Encina Business Credit, LLC | Subsequent Event                
Subsequent Event [Line Items]                
Interest rate at period end 5.50%              
Maturity date Jul. 14, 2023              
Debt periodic payment $ 28,666,670              
Debt periodic frequency monthly              
Percentage of termination fee up to the first anniversary of the closing date 3.00%              
Termination fee up to the first anniversary of the closing date $ (23,500,000)              
Percentage of termination fee before the second anniversary of the closing date 1.00%              
Percentage of termination fee before the third anniversary of the closing date 0.50%              
Encina Business Credit, LLC | Subsequent Event | Minimum                
Subsequent Event [Line Items]                
Interest rate during period 4.50%              
Encina Business Credit, LLC | Subsequent Event | Maximum                
Subsequent Event [Line Items]                
Interest rate during period 5.50%              
Precision Industries, Inc. | Subsequent Event                
Subsequent Event [Line Items]                
Percentage of issued and outstanding shares 100.00%              
Precision Industries, Inc. | Encina Business Credit, LLC | Loan Agreement | Subsequent Event                
Subsequent Event [Line Items]                
Percentage of issued and outstanding shares 100.00%              
Encina Loans | Encina Business Credit, LLC | Loan Agreement | Subsequent Event                
Subsequent Event [Line Items]                
Secured term loan amount $ 1,720,000              
Secured term loan threshold amount 23,500,000              
Line of credit facility beginning amount subject to eligible inventory sublimit 14,000,000              
Line of credit facility declined amount subject to eligible inventory sublimit $ 12,000,000              
Revolving Loans | Encina Business Credit, LLC | Subsequent Event | LIBOR                
Subsequent Event [Line Items]                
LIBOR floor rate 1.00%              
Term Loan | Encina Business Credit, LLC | Scenario Forecast                
Subsequent Event [Line Items]                
Interest rate during period             6.50%  
Accounts Receivable | Encina Loans | Encina Business Credit, LLC | Loan Agreement | Subsequent Event                
Subsequent Event [Line Items]                
Percentage of eligible accounts receivable 85.00%              
Number of borrowers | Borrower 2              
Inventory | Encina Loans | Encina Business Credit, LLC | Loan Agreement | Subsequent Event                
Subsequent Event [Line Items]                
Percentage of eligible accounts receivable 85.00%              
Number of borrowers | Borrower 2