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Restructuring and Related Activities
12 Months Ended
Dec. 31, 2011
Restructuring and Related Activities  
Restructuring and Related Activities Disclosure [Text Block]

13.       RESTRUCTURING EXPENSES

 

            In November 2010, the Company terminated its existing office lease and entered into a new lease for smaller office spaces more in line with the current staff size.  This new "restructuring" expense category was established to account for the expenses associated with this transition.  Restructuring charge of approximately $326,000 included the Company's buyout of the previous office lease for office spaces located at 777 Commerce Drive, Fairfield, CT ($203,000), and expenses associated with the physical move to 1375 Kings Highway East, Fairfield, CT ($88,000).  The buyout amount included a buyout premium and a negotiated rent payment, per the original lease agreement.  The Company wrote off furniture and fixtures unusable in the new office space and leasehold improvements to the former office space for a combined total write off of approximately $112,000.  The previously accrued deferred rent payments of approximately $76,000 for the 777 Commerce Drive office spaces were reversed.  Also, previously accrued but unpaid rent of approximately $190,000 was paid as part of the settlement, reducing accounts payable rather than being included in the restructuring expense.