Accrued and Other Current Liabilities

3 Months Ended

Mar. 31, 2013

Notes

Accrued and Other Current Liabilities

7. ACCRUED AND OTHER CURRENT LIABILITIES

Accrued and other current liabilities consist of the following:

	March 31, 2013		December 31, 2012
Accrued interest	$	4,067	$	4,121
Accrued deferred compensation		854,878		846,718
Accrued unused vacation and sick leave		119,222		117,359
Accrued other liabilities		149,752		97,835
		1,127,919		1,066,033
Less current portion		278,693		223,128
	$	849,226	$	842,905

All of the Company’s executive officers have voluntarily agreed to defer a portion of their compensation. This compensation is vested.  The Company’s top three executive officers have employment agreements which contain a “Change in Control” provision which provides for the immediate lump sum payment of their accrued deferred compensation in the event of a qualifying event.  Accrued deferred compensation subject to this provision totaled approximately $628,037 and $620,406 at March 31, 2013 and December 31, 2012, respectively.