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Note Receivable	12 Months Ended
Jun. 30, 2012
Note Receivable
Note Receivable	(6) Note Receivable On April 28, 2005 the Company consummated the sale and simultaneous leaseback of its Cape Canaveral Florida Spacehab Payload Processing Facility (“SPPF”). The sales price of the building was $4.8 million. The Company received $4.1 million in cash of which $0.3 million was used for expenses related to the transaction. The Company also received a note, secured by a second mortgage on the SPPF, for $0.7 million due December 2010. The Company deferred approximately $0.5 million of gain from the sale leaseback transaction and recognized it as an offset to rent expense over the five-year lease term. The Company currently leases the building back from the owner under an agreement that initially expired on December 31, 2010. In November 2010 the Company renewed its lease with the owner for an additional two year term extending the lease to December 31, 2012. Simultaneously, the Company amended its note with the owner to co-terminate with the lease on December 31, 2012. On December 31, 2012 that note becomes payable in full. Management has confirmed that the owner of the SPPF has been actively marketing the facility for sale. At this time the SPPF is still for sale with no offers pending. The owner has indicated it does not have sufficient capital to repay the Company’s note on December 31, 2012 without a sale of the facility on or before that date. As a result the Company recorded a reserve in fiscal year 2012 against the collection of the note in the amount of $0.7 million, representing the full carried book value of the note at June 30, 2012.

Note Receivable

12 Months Ended

Jun. 30, 2012

(6) Note Receivable

On April 28, 2005 the Company consummated the sale and simultaneous leaseback of its Cape Canaveral Florida Spacehab Payload Processing Facility (“SPPF”). The sales price of the building was $4.8 million. The Company received $4.1 million in cash of which $0.3 million was used for expenses related to the transaction. The Company also received a note, secured by a second mortgage on the SPPF, for $0.7 million due December 2010. The Company deferred approximately $0.5 million of gain from the sale leaseback transaction and recognized it as an offset to rent expense over the five-year lease term.

The Company currently leases the building back from the owner under an agreement that initially expired on December 31, 2010. In November 2010 the Company renewed its lease with the owner for an additional two year term extending the lease to December 31, 2012. Simultaneously, the Company amended its note with the owner to co-terminate with the lease on December 31, 2012. On December 31, 2012 that note becomes payable in full.

Management has confirmed that the owner of the SPPF has been actively marketing the facility for sale. At this time the SPPF is still for sale with no offers pending. The owner has indicated it does not have sufficient capital to repay the Company’s note on December 31, 2012 without a sale of the facility on or before that date. As a result the Company recorded a reserve in fiscal year 2012 against the collection of the note in the amount of $0.7 million, representing the full carried book value of the note at June 30, 2012.