Note 4 – Accounts Receivable

Accounts Receivable Factoring Arrangements

During the three months ended March 31, 2019, the Company entered into an accounts receivable factoring arrangement. Under the terms of the arrangement, the amount of accounts receivable sold on a non-recourse basis, was $0.9 million. The purchase price paid to the Company was $0.6 million, the total origination and other fees incurred by the Company were $30,000 and the Company recorded a loss on sale of the receivables of $0.3 million. As of March 31, 2019, $0.8 million of the outstanding accounts receivable were purchased but not yet paid to the factor. Subsequent to March 31, 2019, the Company entered into four additional factoring arrangements as more fully discussed in Note 19.