Capital Leases

6 Months Ended

Jun. 30, 2012

Capital Leases [Abstract]

CAPITAL LEASES

NOTE H — CAPITAL LEASES

Garic Lease

On September 9, 2011, we entered into a master lease agreement for an equipment lease line of credit with Garic, Inc. The facility has a 12 month draw down period and each schedule has a thirty six month term. The lease has a fair market value option at the end of the term at a price not to exceed fifteen percent of the equipment cost or the right to return the equipment. As of June 30, 2012 the specifics of the facility were as follows:

Description	Facility Amount		FY 2012 Leased Amounts		Outstanding Amount		Available Amount		Interest Rate			Term
Lease Facility	$	1,000,000		358,000		558,000		442,000		16.12	%		36 months

Wells Fargo

In June 2012, we entered into a five year, $1 buyout equipment lease of approximately $495,000 for the purchase of laboratory equipment with Wells Fargo Lease Equipment Financing. The lease has an interest rate of approximately 6%.

Other Vendor Leasing

During the six months ended June 30, 2012, we entered into several vendor lease arrangements for approximately $1,120,000, primarily for the acquisition of lab equipment and to a lesser extent computer hardware. These capital leases are for 36 to 60 month terms, have either $1 purchase options or were fair market value at the end of the term, and approximate interest rates between 8% and 16%.