the aso business consists of ( i ) ownership , operation and maintenance of spacecraft processing facilities in titusville , florida and vandenberg air force base , california , ( ii ) supporting government and commercial customers processing complex communication , earth observation and deep space satellite launches , ( iii ) designing and building 17 spacecraft processing equipment and facilities and ( iv ) providing propellant services including designing , building and testing propellant service equipment for fueling spacecraft . payoff of term loan on august 22 , 2014 , the company used funds from its asset sale , as stated above , to pay off the outstanding balance of its term loan of $ 5.7 million . payoff of texas emerging technology fund award on august 27 , 2014 , the company used funds from its asset sale to settle its funding from the state of texas emerging technology fund for $ 2.3 million . our business units astrotech space operations ( “ aso ” ) on august 22 , 2014 , the company completed the sale of substantially all of its assets used to conduct the company 's astrotech space operations business unit ( “ the aso business ” ) for $ 61.0 million , less a working capital and indemnity holdback of $ 1.8 million and $ 6.1 million , respectively . the working capital holdback will be settled up once both sides agree on the final net working capital amount as of the date of the transaction . the indemnity holdback is being held in escrow under the terms of an escrow agreement until february 2016 ( the 18-month anniversary of the consummation of the transaction ) . aso provides support to its government and commercial customers as they successfully process complex communication , earth observation and deep space satellites in preparation for their launch on a variety of launch vehicles . processing activities include satellite ground transportation ; pre-launch hardware integration and testing ; satellite encapsulation , fueling , launch pad delivery ; and communication linked launch control . our aso facilities can accommodate five-meter class satellites , encompassing the majority of u.s.-based satellites . aso 's service capabilities include designing and building spacecraft processing equipment and facilities . additionally , aso provides propellant services including designing , building and testing propellant service equipment for servicing spacecraft . aso accounted for 99 % of our consolidated revenues for the year ended june 30 , 2014. revenue for our aso business unit is generated primarily from various fixed-priced contracts with launch service providers in both the government and commercial markets and the design and fabrication of space launch equipment . the services and facilities we provide to our customers support the final assembly , checkout , and countdown functions associated with preparing and launching spacecraft . the revenue and cash flows generated from our aso operations are primarily related to the number of spacecraft launches . other factors that have impacted earnings and cash flows for this business include : the continuing limited availability of competing facilities at the major domestic launch sites that can offer comparable services , leading to an increase in government and commercial use of our services . our ability to design and fabricate spacecraft preparation and processing equipment . our ability to control our capital expenditures , which are primarily limited to modifications required to accommodate payload processing for new launch vehicles and upgrading building infrastructure . our ability to complete customer specified facility modifications within budgeted costs and time commitments . uncertainty in government funding and support for key space programs . the impact of competition and industry consolidation and our ability to win new contracts . spacetech our other business unit is a technology incubator designed to commercialize space-industry technologies . this business unit is currently pursuing two distinct opportunities : 1 st detect 1 st detect develops , manufactures and sells ultra-small mass spectrometers and related equipment . mass spectrometers , in general , measure the mass and relative abundance of ions in a sample to create a “ mass spectrum ” . this resulting mass spectrum is a unique chemical fingerprint that can be compared to a reference library of mass spectra to verify the identity of 18 a sample . mass spectrometers can identify chemicals with more accuracy and precision than competing instruments given their extreme sensitivity and specificity and they are a staple of almost all analytical laboratories . by leveraging technology initiated by an engagement with the national aeronautics and space administration ( “ nasa ” ) to develop a mass spectrometer for the international space station ( “ iss ” ) , the company has developed a series of instruments that are significantly smaller , lighter , faster and less expensive than competing mass spectrometers , and significantly more sensitive and accurate than other competing chemical detectors at a similar price point . our efforts have resulted in a technology that can provide mass spectrometry analytics in real-time for explosive device detection in airports and the battlefield , industrial quality and process control , environmental field applications and laboratory research . the mms-1000 tm is a small , low power mass spectrometer designed initially for the laboratory market . the unique design of this unit enables mass spectrometric quality chemical analysis in a small package ( about the size of a shoebox ) that operates from less power than a typical light bulb . this allows high quality chemical analysis to be performed in locations where mass spectrometers have not been used before , such as directly on the factory floor or in the battlefield , without compromising the quality of the analysis . the oem-1000 is a mass spectrometer component that is designed to be integrated into customers ' complementary technology . story_separator_special_tag research and development expenses – research and development expense increased $ 0.4 million as a result of the delivery and installation of 1st detect development unit to potential customers last year , which was recorded as an offset to research and development expense , increased depreciation expense on leasehold improvements at 1st detect associated with our new leased facility , higher people-related costs as we continue the build-out of our operations , offset by lower patent related legal costs and lower material costs . 24 financial condition , capital resources , and liquidity balance sheet total assets for the year ended june 30 , 2014 , were $ 40.8 million compared to total assets of $ 48.0 million as of the end of fiscal year 2013. the following table sets forth the significant components of the balance sheet as of june 30 , 2014 , compared with 2013 ( in thousands ) : replace_table_token_8_th current assets – current assets decreased $ 5.2 million as of june 30 , 2014 , as compared to june 30 , 2013 as a result of cash used in operations . property and equipment , net – depreciation and amortization expense of $ 2.3 million in fiscal year 2014 exceeded capital expenditures of $ 0.4 million . other assets , net – other assets , net , remained relatively consistent . current and long-term debt – current and long-term debt decreased $ 0.4 million as of june 30 , 2014 , as compared to june 30 , 2013 as a result of payments on our term note . other current liabilities – other current liabilities decreased by $ 1.8 million as of june 30 , 2014 , as compared to june 30 , 2013. the primary driver was due to a reduction in both accounts payable and accrued expenses , as well as a lower proportion of billed amounts collected from customers on contracts that will be completed in the next twelve months . other long-term liabilities – other long-term liabilities increased $ 0.1 million for the year ended june 30 , 2014 , as compared to june 30 , 2013 primarily due to a higher proportion of billed amounts collected from customers on contracts that will not be completed in the next twelve months . liquidity and capital resources the following is a summary of the change in our cash and cash equivalents ( in thousands ) : replace_table_token_9_th 25 cash and cash equivalents at june 30 , 2014 , we held cash and cash equivalents of $ 3.8 million and our working capital was approximately ( $ 4.4 ) million . at june 30 , 2013 , we held cash and cash equivalents of $ 5.1 million and our working capital was approximately $ 4.3 million . cash and cash equivalents decreased by approximately $ 1.3 million during the year ended june 30 , 2014. operating activities net cash used in operations was $ 0.6 million for the year ended june 30 , 2014 compared to cash used in operations of $ 2.9 million for the year ended june 30 , 2013. the decrease in cash flow used in operations was primarily due to an increase in cash collections on customer contracts . investing activities net cash used in investing activities for the year ended june 30 , 2014 decreased to $ 0.4 million from $ 1.8 million for the year ended june 30 , 2013. our investing activities are driven primarily by the timing of capital expenditures within in aso and 1 st detect . in fiscal year 2014 , this increase was the result of capital expenditures for leasehold improvements and equipment for our aso operations , as well as expenditures on our 1 st detect facilities to support future growth and ensure sufficient capacity to meet forecasted demand for our ultra-small mass spectrometer product line . financing activities net cash used in financing activities was $ 0.3 million for the years ended june 30 , 2014 and 2013 , as a result of payments on our term loan . debt credit facilities in october 2010 , we entered into a financing facility with a commercial bank providing a $ 7.0 million term loan note and a $ 3.0 million revolving credit facility . the $ 7.0 million term loan terminates in october 2015 , and the $ 3.0 million revolving credit facility expired in october 2012. the company had no outstanding balance on the revolving credit facility . the term loan requires monthly payments of principal plus interest at the rate of prime plus 0.25 % , but not less than 4.0 % . the bank financing facilities are secured by the assets of aso , including accounts receivable , and require us to comply with designated covenants . the balance of the $ 7.0 million term loan at june 30 , 2014 and 2013 was $ 5.7 million and $ 6.0 million , respectively . our bank financing facilities contain certain affirmative and negative covenants with which we must comply , including the maintenance by us of a debt service coverage ratio of not less than 1.00 to 1.00 , maintaining a tangible net worth of not less than $ 32.50 million , and maintaining a leverage ratio of not greater than .50 to 1.00. these financial covenants are applicable to the results of aso . in the event we are not in compliance with a covenant , the bank may , among other things , accelerate all outstanding borrowings , cease extending credit or foreclose on collateral . on august 22 , 2014 , the company paid off the term note as part of the sale of its aso business ( see note 19 to our consolidated financial statements ) . liquidity at june 30 , 2014 , we had cash and cash equivalents of $ 3.8 million and our working capital was approximately ( $ 4.4 ) million . our future capital requirements will depend on a

debt covenant compliance our bank financing facilities contain certain affirmative and negative covenants with which we must comply , including the maintenance by us of a debt service coverage ratio of not less than 1.00 to 1.00 , maintaining a tangible net worth of not less than $ 32.50 million , and maintaining a leverage ratio of not greater than .50 to 1.00. these financial covenants are applicable to the results of aso . in the event we are not in compliance with a covenant , the bank may , among other things , accelerate all outstanding borrowings , cease extending credit or foreclose on collateral . in october , 2013 we were notified by a customer that a previously booked payload processing contract would be deferred several weeks . consequently , our financial projections for fiscal year 2014 indicated that we would likely not be in compliance with our debt service coverage ratio and minimum tangible net worth covenants by the third quarter ended march 31 , 2014. as such , on october 11 , 2013 , we amended the debt agreement with our bank that updated the following with respect to our debt covenants : 1 ) provided a credit of $ 0.50 million and $ 2.25 million for the third and fourth quarter of fiscal year 2014 , respectively , to our debt service coverage calculation , 2 ) reduced our minimum tangible net worth requirement to $ 32.0 million for the third and fourth fiscal quarter of fiscal year 2014 , and 3 ) required that we maintain a minimum cash balance at the bank of $ 2.0 million through june 30 , 2014 and $ 0.75 million thereafter . in november , 2013 we were subsequently notified by the same customer that this mission would be further deferred .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```debt covenant compliance our bank financing facilities contain certain affirmative and negative covenants with which we must comply , including the maintenance by us of a debt service coverage ratio of not less than 1.00 to 1.00 , maintaining a tangible net worth of not less than $ 32.50 million , and maintaining a leverage ratio of not greater than .50 to 1.00. these financial covenants are applicable to the results of aso . in the event we are not in compliance with a covenant , the bank may , among other things , accelerate all outstanding borrowings , cease extending credit or foreclose on collateral . in october , 2013 we were notified by a customer that a previously booked payload processing contract would be deferred several weeks . consequently , our financial projections for fiscal year 2014 indicated that we would likely not be in compliance with our debt service coverage ratio and minimum tangible net worth covenants by the third quarter ended march 31 , 2014. as such , on october 11 , 2013 , we amended the debt agreement with our bank that updated the following with respect to our debt covenants : 1 ) provided a credit of $ 0.50 million and $ 2.25 million for the third and fourth quarter of fiscal year 2014 , respectively , to our debt service coverage calculation , 2 ) reduced our minimum tangible net worth requirement to $ 32.0 million for the third and fourth fiscal quarter of fiscal year 2014 , and 3 ) required that we maintain a minimum cash balance at the bank of $ 2.0 million through june 30 , 2014 and $ 0.75 million thereafter . in november , 2013 we were subsequently notified by the same customer that this mission would be further deferred .
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 Suspicious Activity Report : the aso business consists of ( i ) ownership , operation and maintenance of spacecraft processing facilities in titusville , florida and vandenberg air force base , california , ( ii ) supporting government and commercial customers processing complex communication , earth observation and deep space satellite launches , ( iii ) designing and building 17 spacecraft processing equipment and facilities and ( iv ) providing propellant services including designing , building and testing propellant service equipment for fueling spacecraft . payoff of term loan on august 22 , 2014 , the company used funds from its asset sale , as stated above , to pay off the outstanding balance of its term loan of $ 5.7 million . payoff of texas emerging technology fund award on august 27 , 2014 , the company used funds from its asset sale to settle its funding from the state of texas emerging technology fund for $ 2.3 million . our business units astrotech space operations ( “ aso ” ) on august 22 , 2014 , the company completed the sale of substantially all of its assets used to conduct the company 's astrotech space operations business unit ( “ the aso business ” ) for $ 61.0 million , less a working capital and indemnity holdback of $ 1.8 million and $ 6.1 million , respectively . the working capital holdback will be settled up once both sides agree on the final net working capital amount as of the date of the transaction . the indemnity holdback is being held in escrow under the terms of an escrow agreement until february 2016 ( the 18-month anniversary of the consummation of the transaction ) . aso provides support to its government and commercial customers as they successfully process complex communication , earth observation and deep space satellites in preparation for their launch on a variety of launch vehicles . processing activities include satellite ground transportation ; pre-launch hardware integration and testing ; satellite encapsulation , fueling , launch pad delivery ; and communication linked launch control . our aso facilities can accommodate five-meter class satellites , encompassing the majority of u.s.-based satellites . aso 's service capabilities include designing and building spacecraft processing equipment and facilities . additionally , aso provides propellant services including designing , building and testing propellant service equipment for servicing spacecraft . aso accounted for 99 % of our consolidated revenues for the year ended june 30 , 2014. revenue for our aso business unit is generated primarily from various fixed-priced contracts with launch service providers in both the government and commercial markets and the design and fabrication of space launch equipment . the services and facilities we provide to our customers support the final assembly , checkout , and countdown functions associated with preparing and launching spacecraft . the revenue and cash flows generated from our aso operations are primarily related to the number of spacecraft launches . other factors that have impacted earnings and cash flows for this business include : the continuing limited availability of competing facilities at the major domestic launch sites that can offer comparable services , leading to an increase in government and commercial use of our services . our ability to design and fabricate spacecraft preparation and processing equipment . our ability to control our capital expenditures , which are primarily limited to modifications required to accommodate payload processing for new launch vehicles and upgrading building infrastructure . our ability to complete customer specified facility modifications within budgeted costs and time commitments . uncertainty in government funding and support for key space programs . the impact of competition and industry consolidation and our ability to win new contracts . spacetech our other business unit is a technology incubator designed to commercialize space-industry technologies . this business unit is currently pursuing two distinct opportunities : 1 st detect 1 st detect develops , manufactures and sells ultra-small mass spectrometers and related equipment . mass spectrometers , in general , measure the mass and relative abundance of ions in a sample to create a “ mass spectrum ” . this resulting mass spectrum is a unique chemical fingerprint that can be compared to a reference library of mass spectra to verify the identity of 18 a sample . mass spectrometers can identify chemicals with more accuracy and precision than competing instruments given their extreme sensitivity and specificity and they are a staple of almost all analytical laboratories . by leveraging technology initiated by an engagement with the national aeronautics and space administration ( “ nasa ” ) to develop a mass spectrometer for the international space station ( “ iss ” ) , the company has developed a series of instruments that are significantly smaller , lighter , faster and less expensive than competing mass spectrometers , and significantly more sensitive and accurate than other competing chemical detectors at a similar price point . our efforts have resulted in a technology that can provide mass spectrometry analytics in real-time for explosive device detection in airports and the battlefield , industrial quality and process control , environmental field applications and laboratory research . the mms-1000 tm is a small , low power mass spectrometer designed initially for the laboratory market . the unique design of this unit enables mass spectrometric quality chemical analysis in a small package ( about the size of a shoebox ) that operates from less power than a typical light bulb . this allows high quality chemical analysis to be performed in locations where mass spectrometers have not been used before , such as directly on the factory floor or in the battlefield , without compromising the quality of the analysis . the oem-1000 is a mass spectrometer component that is designed to be integrated into customers ' complementary technology . story_separator_special_tag research and development expenses – research and development expense increased $ 0.4 million as a result of the delivery and installation of 1st detect development unit to potential customers last year , which was recorded as an offset to research and development expense , increased depreciation expense on leasehold improvements at 1st detect associated with our new leased facility , higher people-related costs as we continue the build-out of our operations , offset by lower patent related legal costs and lower material costs . 24 financial condition , capital resources , and liquidity balance sheet total assets for the year ended june 30 , 2014 , were $ 40.8 million compared to total assets of $ 48.0 million as of the end of fiscal year 2013. the following table sets forth the significant components of the balance sheet as of june 30 , 2014 , compared with 2013 ( in thousands ) : replace_table_token_8_th current assets – current assets decreased $ 5.2 million as of june 30 , 2014 , as compared to june 30 , 2013 as a result of cash used in operations . property and equipment , net – depreciation and amortization expense of $ 2.3 million in fiscal year 2014 exceeded capital expenditures of $ 0.4 million . other assets , net – other assets , net , remained relatively consistent . current and long-term debt – current and long-term debt decreased $ 0.4 million as of june 30 , 2014 , as compared to june 30 , 2013 as a result of payments on our term note . other current liabilities – other current liabilities decreased by $ 1.8 million as of june 30 , 2014 , as compared to june 30 , 2013. the primary driver was due to a reduction in both accounts payable and accrued expenses , as well as a lower proportion of billed amounts collected from customers on contracts that will be completed in the next twelve months . other long-term liabilities – other long-term liabilities increased $ 0.1 million for the year ended june 30 , 2014 , as compared to june 30 , 2013 primarily due to a higher proportion of billed amounts collected from customers on contracts that will not be completed in the next twelve months . liquidity and capital resources the following is a summary of the change in our cash and cash equivalents ( in thousands ) : replace_table_token_9_th 25 cash and cash equivalents at june 30 , 2014 , we held cash and cash equivalents of $ 3.8 million and our working capital was approximately ( $ 4.4 ) million . at june 30 , 2013 , we held cash and cash equivalents of $ 5.1 million and our working capital was approximately $ 4.3 million . cash and cash equivalents decreased by approximately $ 1.3 million during the year ended june 30 , 2014. operating activities net cash used in operations was $ 0.6 million for the year ended june 30 , 2014 compared to cash used in operations of $ 2.9 million for the year ended june 30 , 2013. the decrease in cash flow used in operations was primarily due to an increase in cash collections on customer contracts . investing activities net cash used in investing activities for the year ended june 30 , 2014 decreased to $ 0.4 million from $ 1.8 million for the year ended june 30 , 2013. our investing activities are driven primarily by the timing of capital expenditures within in aso and 1 st detect . in fiscal year 2014 , this increase was the result of capital expenditures for leasehold improvements and equipment for our aso operations , as well as expenditures on our 1 st detect facilities to support future growth and ensure sufficient capacity to meet forecasted demand for our ultra-small mass spectrometer product line . financing activities net cash used in financing activities was $ 0.3 million for the years ended june 30 , 2014 and 2013 , as a result of payments on our term loan . debt credit facilities in october 2010 , we entered into a financing facility with a commercial bank providing a $ 7.0 million term loan note and a $ 3.0 million revolving credit facility . the $ 7.0 million term loan terminates in october 2015 , and the $ 3.0 million revolving credit facility expired in october 2012. the company had no outstanding balance on the revolving credit facility . the term loan requires monthly payments of principal plus interest at the rate of prime plus 0.25 % , but not less than 4.0 % . the bank financing facilities are secured by the assets of aso , including accounts receivable , and require us to comply with designated covenants . the balance of the $ 7.0 million term loan at june 30 , 2014 and 2013 was $ 5.7 million and $ 6.0 million , respectively . our bank financing facilities contain certain affirmative and negative covenants with which we must comply , including the maintenance by us of a debt service coverage ratio of not less than 1.00 to 1.00 , maintaining a tangible net worth of not less than $ 32.50 million , and maintaining a leverage ratio of not greater than .50 to 1.00. these financial covenants are applicable to the results of aso . in the event we are not in compliance with a covenant , the bank may , among other things , accelerate all outstanding borrowings , cease extending credit or foreclose on collateral . on august 22 , 2014 , the company paid off the term note as part of the sale of its aso business ( see note 19 to our consolidated financial statements ) . liquidity at june 30 , 2014 , we had cash and cash equivalents of $ 3.8 million and our working capital was approximately ( $ 4.4 ) million . our future capital requirements will depend on a

