Note 3. Line of Credit
On October 19, 2010, the Company secured a one-year renewal of the line of credit (the
“Line”) for a reduced amount of $90,000 which was secured by a $90,000 certificate of deposit with a financial institution. On August 25, 2011, the Company paid the entire balance in full and the line has been terminated. All
borrowings under the revolving line of credit bore variable interest based on either the prime rate plus 1.5% per annum or 5.0%, whichever was higher. The Company utilized the funds advanced from the Line for capital equipment purchases to
support the commercialization of the Company’s Cryoport Express® Dry Shipper. During the three and six
months ended September 30, 2011, the Company recorded interest expense of $587 and $1,725, respectively, related to the Line.