SEC Info - Idt Corp - ‘10-Q’ for 4/30/20

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Idt Corp – ‘10-Q’ for 4/30/20 – ‘R19’

On: Tuesday, 6/9/20, at 1:55pm ET · For: 4/30/20 · Accession #: 1213900-20-14476 · File #: 1-16371

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 6/09/20  Idt Corp                          10-Q        4/30/20   90:4.8M                                   Edgar Agents LLC/FA

Quarterly Report — Form 10-Q — Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-Q        Quarterly Report                                    HTML    454K 
 2: EX-31.1     Certification -- §302 - SOA'02                      HTML     27K 
 3: EX-31.2     Certification -- §302 - SOA'02                      HTML     27K 
 4: EX-32.1     Certification -- §906 - SOA'02                      HTML     23K 
 5: EX-32.2     Certification -- §906 - SOA'02                      HTML     23K 
80: R1          Document and Entity Information                     HTML     57K 
36: R2          Consolidated Balance Sheets                         HTML    127K 
24: R3          Consolidated Balance Sheets (Parenthetical)         HTML     47K 
50: R4          Consolidated Statements of Operations (Unaudited)   HTML     95K 
77: R5          Consolidated Statements of Comprehensive (Loss)     HTML     52K 
                Income (Unaudited)                                               
33: R6          Consolidated Statements of Equity (Unaudited)       HTML     66K 
21: R7          Consolidated Statements of Cash Flows (Unaudited)   HTML    114K 
49: R8          Basis of Presentation                               HTML     28K 
81: R9          Revenue Recognition                                 HTML     82K 
35: R10         Leases                                              HTML     44K 
23: R11         Cash, Cash Equivalents, and Restricted Cash and     HTML     30K 
                Cash Equivalents                                                 
52: R12         Debt Securities                                     HTML     45K 
79: R13         Equity Investments                                  HTML     48K 
34: R14         Fair Value Measurements                             HTML     59K 
22: R15         Acquisitions                                        HTML     36K 
51: R16         Other Operating Expense, Net                        HTML     52K 
78: R17         Equity                                              HTML     34K 
32: R18         Earnings (Loss) Per Share                           HTML     39K 
25: R19         Note Payable and Revolving Credit Loan Payable      HTML     28K 
67: R20         Accumulated Other Comprehensive Loss                HTML     29K 
76: R21         Business Segment Information                        HTML     41K 
47: R22         Commitments and Contingencies                       HTML     50K 
18: R23         Other (Expense) Income, Net                         HTML     31K 
66: R24         Defined Contribution Plan                           HTML     27K 
75: R25         Recently Issued Accounting Standards Not Yet        HTML     29K 
                Adopted                                                          
46: R26         Revenue Recognition (Tables)                        HTML     78K 
17: R27         Leases (Tables)                                     HTML     41K 
68: R28         Cash, Cash Equivalents, and Restricted Cash and     HTML     29K 
                Cash Equivalents (Tables)                                        
74: R29         Debt Securities (Tables)                            HTML     44K 
82: R30         Equity Investments (Tables)                         HTML     47K 
54: R31         Fair Value Measurements (Tables)                    HTML     60K 
19: R32         Acquisitions (Tables)                               HTML     41K 
30: R33         Other Operating Expense, Net (Tables)               HTML     50K 
83: R34         Earnings (Loss) Per Share (Tables)                  HTML     38K 
55: R35         Accumulated Other Comprehensive Loss (Tables)       HTML     29K 
20: R36         Business Segment Information (Tables)               HTML     39K 
31: R37         Other (Expense) Income, Net (Tables)                HTML     30K 
84: R38         Revenue Recognition (Details)                       HTML     48K 
53: R39         Revenue Recognition (Details 1)                     HTML     54K 
69: R40         Revenue Recognition (Details 2)                     HTML     27K 
62: R41         Revenue Recognition (Details 3)                     HTML     30K 
15: R42         Revenue Recognition (Details 4)                     HTML     25K 
44: R43         Leases (Details)                                    HTML     39K 
70: R44         Leases (Details 1)                                  HTML     29K 
63: R45         Leases (Details 2)                                  HTML     43K 
16: R46         Leases (Details Textual)                            HTML     37K 
45: R47         Cash, Cash Equivalents, and Restricted Cash and     HTML     34K 
                Cash Equivalents (Details)                                       
71: R48         Cash, Cash Equivalents, and Restricted Cash and     HTML     29K 
                Cash Equivalents (Details Textual)                               
60: R49         Debt Securities (Details)                           HTML     41K 
57: R50         Debt Securities (Details 1)                         HTML     34K 
88: R51         Debt Securities (Details 2)                         HTML     29K 
40: R52         Debt Securities (Details Textual)                   HTML     30K 
29: R53         Equity Investments (Details)                        HTML     42K 
56: R54         Equity Investments (Details 1)                      HTML     36K 
86: R55         Equity Investments (Details 2)                      HTML     29K 
39: R56         Equity Investments (Details Textual)                HTML     43K 
28: R57         Fair Value Measurements (Details)                   HTML     48K 
58: R58         Fair Value Measurements (Details 1)                 HTML     35K 
85: R59         Fair Value Measurements (Details 2)                 HTML     35K 
43: R60         Fair Value Measurements (Details Textual)           HTML     24K 
13: R61         Acquisitions (Details)                              HTML     30K 
65: R62         Acquisitions (Details 1)                            HTML     55K 
73: R63         Acquisitions (Details Textual)                      HTML     34K 
42: R64         Other Operating Expense, Net (Details)              HTML     34K 
12: R65         Other Operating Expense, Net (Details 1)            HTML     66K 
64: R66         Other Operating Expense, Net (Details Textual)      HTML     33K 
72: R67         Equity (Details)                                    HTML     75K 
41: R68         Earnings (Loss) Per Share (Details)                 HTML     37K 
14: R69         Earnings (Loss) Per Share (Details 1)               HTML     31K 
26: R70         Note Payable and Revolving Credit Loan Payable      HTML     39K 
                (Details)                                                        
37: R71         Accumulated Other Comprehensive Loss (Details)      HTML     41K 
89: R72         Business Segment Information (Details)              HTML     41K 
59: R73         Business Segment Information (Details Textual)      HTML     24K 
27: R74         Commitments and Contingencies (Details)             HTML     40K 
38: R75         Other (Expense) Income, Net (Details)               HTML     34K 
90: R76         Defined Contribution Plan (Details)                 HTML     32K 
87: XML         IDEA XML File -- Filing Summary                      XML    164K 
61: EXCEL       IDEA Workbook of Financial Reports                  XLSX     85K 
 6: EX-101.INS  XBRL Instance -- idt-20200430                        XML   1.66M 
 8: EX-101.CAL  XBRL Calculations -- idt-20200430_cal                XML    228K 
 9: EX-101.DEF  XBRL Definitions -- idt-20200430_def                 XML    521K 
10: EX-101.LAB  XBRL Labels -- idt-20200430_lab                      XML   1.01M 
11: EX-101.PRE  XBRL Presentations -- idt-20200430_pre               XML    773K 
 7: EX-101.SCH  XBRL Schema -- idt-20200430                          XSD    204K 
48: ZIP         XBRL Zipped Folder -- 0001213900-20-014476-xbrl      Zip    134K

‘R19’ — Note Payable and Revolving Credit Loan Payable

This is an IDEA Financial Report. [ Alternative Formats ]

Note Payable and Revolving Credit Loan Payable

9 Months Ended

Apr. 30, 2020

Revolving Credit Facility [Abstract]

Note payable and Revolving Credit Loan Payable

Note 12—Note Payable and Revolving Credit Loan Payable

Note Payable

On April 20, 2020, IDT Domestic Telecom, Inc. ("IDT DT"), a subsidiary of the Company, received loan proceeds of $10.0 million (the "PPP Loan") from TD Bank, N.A, pursuant to the Paycheck Protection Program (the "PPP") under the Coronavirus Aid, Relief, and Economic Security Act ("CARES Act") administered by the U.S. Small Business Administration. On April 29, 2020, IDT DT returned all $10.0 million in proceeds from the PPP Loan. In light of the oversubscription of applications for loans under the PPP, and despite IDT DT's need for the funds to support its operations, IDT DT returned the loan proceeds in order to make those funds available to other borrowers that may be in greater need than IDT DT.

Revolving Credit Loan Payable

As of October 31, 2019, the Company's subsidiary, IDT Telecom, Inc., entered into a credit agreement with TD Bank, N.A. for a line of credit facility for up to a maximum principal amount of $25.0 million. IDT Telecom may use the proceeds to finance working capital requirements, acquisitions and other general corporate purposes. The line of credit facility is secured by primarily all of IDT Telecom's assets. The principal outstanding bears interest per annum at the LIBOR rate adjusted by the Regulation D maximum reserve requirement plus 125 basis points. Interest is payable monthly, and all outstanding principal and any accrued and unpaid interest is due on the maturity date of July 15, 2020. At April 30, 2020, there was no amount outstanding under the facility. IDT Telecom pays a quarterly unused commitment fee of 0.3% per annum on the average daily balance of the unused portion of the $25.0 million commitment. IDT Telecom is required to comply with various affirmative and negative covenants as well as maintain certain financial targets and ratios during the term of the facility, including IDT Telecom may not pay any dividend on its capital stock.

Dates Referenced Herein and Documents Incorporated by Reference

This ‘10-Q’ Filing	Date	Other Filings

	7/15/20
Filed on:	6/9/20
For Period end:	4/30/20
	4/29/20
	4/20/20	8-K, 8-K/A
	10/31/19	10-Q
		List all Filings

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Filing Submission 0001213900-20-014476 – Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)