0001144204-12-027904.txt : 20120511 0001144204-12-027904.hdr.sgml : 20120511 20120511122646 ACCESSION NUMBER: 0001144204-12-027904 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 11 CONFORMED PERIOD OF REPORT: 20120331 FILED AS OF DATE: 20120511 DATE AS OF CHANGE: 20120511 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Point.360 CENTRAL INDEX KEY: 0001398797 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-ALLIED TO MOTION PICTURE PRODUCTION [7819] IRS NUMBER: 000000000 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 001-33468 FILM NUMBER: 12833131 BUSINESS ADDRESS: STREET 1: 2777 NORTH ONATRIO STREET CITY: BURBANK STATE: CA ZIP: 91504 BUSINESS PHONE: 818-565-1400 MAIL ADDRESS: STREET 1: 2777 NORTH ONATRIO STREET CITY: BURBANK STATE: CA ZIP: 91504 FORMER COMPANY: FORMER CONFORMED NAME: New 360 DATE OF NAME CHANGE: 20070507 10-Q 1 v312104_10q.htm FORM 10-Q

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

___________

FORM 10-Q

(Mark One)

þ Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.

For the quarterly period ended March 31, 2012

o Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.

For the transition period from _______to_______

Commission file number 001-33468

Point.360

(Exact Name of Registrant as Specified in Its Charter)

California

(State or other jurisdiction of

incorporation or organization)

01-0893376

(I.R.S. Employer Identification No.)

2701 Media Center Drive, Los Angeles, CA

(Address of principal executive offices)

90065

(Zip Code)

(818) 565-1400

(Registrant’s Telephone Number, Including Area Code)

(Former Name, Former Address and Former Fiscal Year,

if Changed Since Last Report)

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

þ Yes ¨ No

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).

þ Yes ¨ No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filer o	Accelerated filer o
Non-accelerated filer o	Smaller reporting company þ

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

o Yes þ No

As of March 31, 2012, there were 10,513,166 shares of the registrant’s common stock outstanding.

PART I – FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

POINT.360

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)

(in thousands)

Assets	March 31, 2012			June 30, 2011*
Current assets:
Cash and cash equivalents	$	42		$	355
Accounts receivable, net of allowances for doubtful accounts of $320 and $351, respectively		7,186			6,347
Inventories, net		346			517
Prepaid expenses and other current assets		743			216
Prepaid income taxes		70			68
Total current assets		8,387			7,503

Property and equipment, net		18,055			17,153
Other assets, net		732			739

Total assets	$	27,174		$	25,395

Liabilities and Shareholders’ Equity
Current liabilities:
Current portion of notes payable	$	1,343		$	1,473
Current portion of capital lease obligations		195			236
Accounts payable		1,444			1,274
Accrued wages and benefits		1,520			1,058
Other accrued expenses		314			399
Current portion of deferred gain on sale of real estate		178			178
Current portion of deferred lease incentive		207			-
Total current liabilities		5,201			4,618

Notes payable, less current portion		9,255			9,541
Capital lease obligations, less current portion		47			170
Deferred gain on sale of real estate, less current portion		1,420			1,554
Deferred lease incentive, less current portion		1,654			-
Other long-term liabilities		23			23
Total long-term liabilities		12,399			11,288

Total liabilities		17,600			15,906

Commitments and contingencies (Note 4)		-			-

Shareholders’ equity:
Preferred stock – no par value; 5,000,000 shares authorized; none outstanding		-			-
Common stock – no par value; 50,000,000 shares authorized; 10,513,166 shares issued and outstanding on March 31, 2012 and June 30, 2011		21,695			21,695
Additional paid-in capital		10,377			10,125
Accumulated deficit		(22,498	)		(22,331	)
Total shareholders’ equity		9,574			9,489

Total liabilities and shareholders’ equity	$	27,174		$	25,395

See accompanying notes to condensed consolidated financial statements.

*Amounts derived from audited financial statements

POINT.360

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited)

	Three Months Ended March 31,						Nine Months Ended March 31,
	2012			2011			2012			2011

Revenues	$	8,497,000		$	9,258,000		$	26,008,000		$	26,600,000
Cost of services sold		(5,657,000	)		(5,990,000	)		(16,696,000	)		(18,485,000	)

Gross profit		2,840,000			3,268,000			9,312,000			8,115,000
Selling, general and administrative expense		(3,045,000	)		(3,221,000	)		(9,209,000	)		(10,182,000	)
Research and development expense		-			(18,000	)		-			(352,000	)
Impairment of long lived assets		-			(684,000	)		-			(684,000	)

Operating Income (loss)		(205,000	)		(655,000	)		103,000			(3,103,000	)
Interest expense		(199,000	)		(216,000	)		(637,000	)		(611,000	)
Interest income		-			-			20,000			62,000
Other income		77,000			1,083,000			347,000			1,261,000

Income (loss) before income taxes		(327,000	)		212,000			(167,000	)		(2,391,000	)
Provision for income taxes		-			-			-			-
Net income (loss)	$	(327,000	)	$	212,000		$	(167,000	)	$	(2,391,000	)

Income (loss) per share:
Basic:
Net income (loss)	$	(0.03	)	$	0.02		$	(0.02	)	$	(0.22	)
Weighted average number of shares		10,513,166			10,763,166			10,513,166			10,685,611
Diluted:
Net income (loss)	$	(0.03	)	$	0.02		$	(0.02	)	$	(0.22	)
Weighted average number of shares including the dilutive effect of stock options		10,513,166			10,763,166			10,513,166			10,685,611

See accompanying notes to condensed consolidated financial statements.

POINT.360

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

	Nine Months Ended March 31,
	(in thousands)
	2012			2011

Cash flows from operating activities:
Net income (loss)	$	(167	)	$	(2,391	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
(Gain) loss on sale of fixed assets		7			(181	)
Depreciation and amortization		2,260			2,752
Amortization of deferred gain on real estate		(134	)		(134	)
Amortization of deferred lease credit		(103	)		--
Provision for (recovery of) doubtful accounts		(31	)		(50	)
Stock compensation expense		252			232
Impairment of long lived assets		--			684
Amortization of non-compete agreement		4			5
Changes in operating assets and liabilities:
(Increase) decrease in accounts receivable		(808	)		93
Decrease in inventories		172			72
(Increase) in prepaid expenses and other current assets		(527	)		(925	)
Decrease in prepaid income taxes		2			1,497
(Increase) Decrease in other assets		3			(400	)
Increase in deferred lease incentive		1,964			--
Increase (decrease) in accounts payable		171			(955	)
Increase (decrease) in accrued wages and benefits		462			(53	)
(Decrease) in other accrued expenses		(84	)		(822	)
Net cash provided by (used in) operating activities		3,443			(576	)

Cash flows from investing activities:
Capital expenditures		(3,175	)		(957	)
Proceeds from sale of property and equipment		--			329
Net cash (used in) investing activities		(3,175	)		(628	)

Cash flows from financing activities:
Proceeds from line of credit, net		94			1,200
Issuance of common stock		--			315
Repayment of notes payable		(510	)		(157	)
Repayment of capital lease obligations		(165	)		(147	)
Net cash provided by (used in) financing activities		(581	)		1,211
Net increase (decrease) in cash and cash equivalents		(313	)		7
Cash and cash equivalents at beginning of period		355			249
Cash and cash equivalents at end of period	$	42		$	256

Selected cash payments and non-cash activities were as follows (in thousands):

	Nine Months Ended
	March 31,
	2012		2011
Cash payments for income taxes (net of refunds)	$	2	$	(1,497	)
Cash payments for interest	$	594	$	542
Settlement of a lawsuit for common stock	$	--	$	315
Assets acquired through capital lease obligations	$	--	$	148

See accompanying notes to condensed consolidated financial statements.

Point.360

Notes to Condensed Consolidated Financial Statements (unaudited)

March 31, 2012

Note 1 – THE COMPANY

The Company provides high definition and standard definition digital mastering, data conversion, video and film asset management and sophisticated computer graphics services to owners, producers and distributors of entertainment and advertising content. The Company provides the services necessary to edit, master, reformat, convert, archive and ultimately distribute its clients’ film and video content, including television programming feature films and movie trailers. The Company’s interconnected facilities provide service coverage to all major U.S. media centers. Clients include major motion picture studios and independent producers. The Company also rents and sells DVDs and video games directly to consumers through its Movie>Q retail stores.

The Company operates in two business segments from four post production and three Movie>Q locations. Each post production location is electronically tied to the others and serves the same customer base. Depending on the location size, the production equipment consists of tape duplication, feature movie and commercial ad editing, encoding, standards conversion, and other machinery. Each location employs personnel with the skills required to efficiently run the equipment and handle customer requirements. While all locations are not exactly the same, an order received at one location may be fulfilled at one or more “sister” facilities to use resources in the most efficient manner.

Typically, a feature film or television show or related material will be submitted to a facility by a motion picture studio, independent producer, advertising agency, or corporation for processing and distribution. A common sales force markets the Company’s capability for all facilities. Once an order is received, the local customer service representative determines the most cost-effective way to perform the services considering geographical logistics and facility capabilities.

In fiscal 2010, the Company purchased assets and intellectual property for a research and development project to address the viability of the DVD and video game rental business being abandoned by the closure of Movie Gallery/Hollywood Video and Blockbuster stores. The DVD rental market consists principally of online services (Netflix), vending machines (Redbox) and other video stores.

As of March 31, 2012, the Company had opened three Movie>Q “proof-of-concept” stores in Southern California. The stores employ an automated inventory management (“AIM”) system in a 1,200-1,600 square foot facility. By saving space and personnel costs which caused the big box stores to be uncompetitive with lower priced online and vending machine rental alternatives, Movie>Q can offer up to 10,000 unit selections to a customer at competitive rental rates. Movie>Q provides online reservations, an in-store destination experience, first run movie and game titles and a large unit selection (as opposed to 400-700 for a Redbox vending machine).

Based on the success of the proof-of-concept, the Company may seek to rapidly expand the number of Movie>Q stores while further streamlining the design and production of the AIM system. Movie>Q provides the Company with a content distribution capability complimentary to the Company’s post production business.

The accompanying unaudited Condensed Consolidated Financial Statements include the accounts and transactions of the Company, including those of the Company’s subsidiaries. The statements have been prepared in accordance with accounting principles generally accepted in the United States of America and by the Securities and Exchange Commission’s rules and regulations for reporting interim financial statements and footnotes. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. All intercompany balances and transactions have been eliminated in the Condensed Consolidated Financial Statements. Operating results for the three and nine month periods ended March 31, 2012 are not necessarily indicative of the results that may be expected for the fiscal year ending June 30, 2012. These financial statements should be read in conjunction with the financial statements and related notes contained in the Company’s Form 10-K for the period ended June 30, 2011.

Pro Forma Earnings (Loss) Per Share

A reconciliation of the denominator of the basic EPS computation to the denominator of the diluted EPS computation is as follows (in thousands):

	Three Months Ended March 31,		Three Months Ended March 31,		Nine Months Ended March 31,		Nine Months Ended March 31,
	2012		2011		2012		2011
Pro forma weighted average of number of shares
Weighted average number of common shares outstanding used in computation of basic EPS		10,513		10,763		10,513		10,686
Dilutive effect of outstanding stock options		-		-		-		-
Weighted average number of common and potential Common shares outstanding used in computation of Diluted EPS		10,513		10,763		10,513		10,686
Effect of dilutive options excluded in the computation of diluted EPS due to net loss		113		-		63		32

The weighted average number of common shares outstanding was the same amount for both basic and diluted income or loss per share in the three and nine month periods ended March 31, 2011. The effect of potentially dilutive securities for the nine month period ended March 31, 2011 were excluded from the computation of diluted earnings per share because the Company reported a net loss, and the effect of inclusion would be anti-dilutive (i.e., including such securities would result in a lower loss per share). Options to purchase 2,496,225 shares were outstanding at March 31, 2012. Diluted weighted average shares outstanding exclude outstanding stock options whose exercise price is in excess of the average price of the Company’s stock price. These options are excluded from the respective computations of diluted net income or loss per share because their effect would be anti-dilutive. The number of potentially dilutive shares at March 31, 2012 and 2011, was 1,540,094 and 651,675, respectively.

Fair Value Measurements

The Company follows a framework for consistently measuring fair value under generally accepted accounting principles, and the disclosures of fair value measurements. The framework provides a fair value hierarchy to classify the source of the information.

The fair value hierarchy is based on three levels of inputs, of which the first two are considered observable and the last unobservable, that may be used to measure fair value and include the following:

Level 1 – Quoted prices in active markets for identical assets or liabilities.

Level 2 – Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

Level 3 – Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

Cash, the only Level 1 input applicable to the Company (there are no Level 2 or 3 inputs), is stated on the Condensed Consolidated Balance Sheets at fair value.

As of March 31, 2012 and June 30, 2011, the carrying value of cash and cash equivalents, accounts receivable, accounts payable, accrued expenses and interest payable approximates fair value due to the short-term nature of such instruments. The carrying value of other long-term liabilities approximates fair value as the related interest rates approximate rates currently available to the Company.

Recent Accounting Pronouncements

In September 2011, the FASB issued Accounting Standards Update No. 2011-08, “Testing Goodwill for Impairment” (ASU No. 2011-08), which is intended to simplify goodwill impairment testing. Entities will be allowed to perform a qualitative assessment on goodwill impairment to determine whether a quantitative assessment is necessary. The revised standard is effective for annual and interim goodwill impairment tests performed for fiscal years beginning after December 15, 2011. The adoption of ASC No. 2011-08 will not impact our financial position, results of operations, cash flows, or presentation thereof.

In May 2011, the FASB issued ASU No. 2011-04, “Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRSs” ("ASU No. 2011-04"), which amends ASC Topic 820, “Fair Value Measurement”. ASU No. 2011-04 does not extend the use of fair value accounting, but provides guidance on how it should be applied where its use is already required or permitted by other standards within U.S. GAAP or International Financial Reporting Standards (“IFRSs”). ASU No. 2011-14 changes the wording used to describe many requirements in U.S. GAAP for measuring fair value and for disclosing information about fair value measurements. Additionally, ASU No. 2011-14 clarifies the FASB's intent about the application of existing fair value measurements. ASU No. 2011-04 is effective for interim and annual periods beginning after December 15, 2011, and is applied prospectively. We adopted this guidance at the beginning of our third quarter of fiscal year 2012. The adoption of ASU No. 2011-04 did not have a material impact on our financial position, results of operations or cash flows.

NOTE 2 - LONG TERM DEBT AND NOTES PAYABLE

In January 2011, the Company entered into a credit agreement which provides $1 million of credit based on 85% of acceptable accounts receivable, as defined. The loan and security agreement provided for interest at prime rate plus 2% with an interest floor of 5.25%. In addition, the Company paid a monthly “maintenance” fee of 0.6% of the outstanding daily loan balance (an equivalent annual fee of 7.2%), and an annual commitment fee of 1% of the amount of the credit facility. Amounts outstanding under the agreement are secured by all of the Company’s assets other than real estate and are payable on demand. In March 2011, the credit limit was increased to $3 million based on 80% of acceptable accounts receivable, as defined. In November 2011, the credit limit remained at $3 million, however the borrowing base was reduced to 80% of acceptable accounts receivable less $300,000, the interest rate was reduced to prime plus 0.5% (currently 3.75%) with an interest floor of 3.75%, and the monthly maintenance fee was reduced to 0.4% (an equivalent annual fee of 4.8%). As of March 31, 2012, the Company owed $1.3 million under the credit agreement.

In July 2008, the Company entered into a Promissory Note with a bank (the “note”) in order to purchase land and a building that had been occupied by the Company since 1998 (the total purchase price was approximately $8.1 million). Pursuant to the note, the company borrowed $6,000,000 which was payable in monthly installments of principal and interest on a fully amortized base over 30 years at an initial five-year interest rate of 7.1% and thereafter at a variable rate equal to LIBOR plus 3.6% (6.4% as of the purchase date). The mortgage debt is secured by the land and building.

In June 2009, the Company entered into a $3,562,500 Purchase Money Promissory Note secured by a Deed of Trust for the purchase of land and a building. The note bears interest at 7% fixed for ten years. The principal amount of the note is payable on June 12, 2019. The note is secured by the property.

In November 2010, the Company converted approximately $1 million of accounts payable into a note secured by a lien of all the Company’s assets, which security interest was subordinated to that of the $3 million credit agreement and other term and mortgage debt. The note was due in 48 monthly installments of $20,000 plus interest at 3% per annum and could be prepaid at any time. The total amount due under the note was subject to a 12.5% or 6% discount if totally paid within 12 months or 18 months, respectively. In April 2011, the Company received $1 million in settlement of a claim, and prepaid $333,000 of the above $1 million note. The remaining amount due under the note was paid in October 2011, at a 12.5% discount.

NOTE 3- PROPERTY AND EQUIPMENT

In March 2006, the Company entered into a sale and leaseback transaction with respect to its Media Center vaulting real estate. The real estate was sold for approximately $14.0 million resulting in a $1.3 million after tax gain. Additionally, the Company received $0.5 million from the purchaser for improvements. In accordance with the Accounting Standards Codification (ASC) 840-40, the gain will be amortized over the initial 15-year lease term as reduced rent. Net proceeds at the closing of the sale and improvement advance (approximately $13.8 million) were used to pay off the mortgage and other outstanding debt. A $250,000 security deposit related to the lease has been recorded as a deposit in “other assets, net” in the Condensed Consolidated Balance Sheets as of March 31, 2012 and June 30, 2011.

The lease is treated as an operating lease for financial reporting purposes. After the initial lease term, the Company has four five-year options to extend the lease. Minimum annual rent payments for the initial five years of the lease are $1,111,000, increasing annually thereafter based on the Consumer Price Index change from year to year.

In June 2011, the Company entered into a lease amendment with respect to the Company’s Media Center facility. The amendment provides that the landlord would reimburse the Company up to $2 million for the leasehold improvements to be made by the Company to the premises. The leasehold improvements would be recorded as a fixed asset and amortized over the remaining term of the lease (until March 2021). Pursuant to the lease amendment, the Company’s monthly lease costs increased by approximately $14,000 on July 1, 2011, and by an additional $13,000 to approximately $27,000 on April 1, 2012. As of March 31, 2012, the Company had incurred $2.0 million of costs for construction, of which $1.7 million had been reimbursed by the landlord. The balance due from the landlord of $309,000 as of March 31, 2012 has been recorded in prepaid expenses and other current assets on the balance sheet, and a deferred lease incentive has been recorded for the total amount reimbursed by the landlord in accordance with ASC 840-20. The lease incentive is being amortized over the remaining lease term as an offset to rent.

The Company vacated one of its Burbank facilities on the February 28, 2012 expiration of the related lease and moved to the Media Center space, which will reduce monthly operating expenses by approximately $100,000. Total annual savings beginning in March 2012 are expected to be approximately $1.2 million.

Property and equipment consist of the following as of March 31, 2012:


Land	$	3,985,000
Buildings		9,268,000
Machinery and equipment		37,467,000
Leasehold improvements		6,921,000
Computer equipment		7,742,000
Equipment under capital lease		856,000
Office equipment, CIP		2,743,000
Less accumulated depreciation and amortization		(50,927,000	)
Property and equipment, net	$	18,055,000

NOTE 4- COMMITMENTS AND CONTINGENCIES

On October 6, 2009, DG FastChannel, Inc. (“DGFC”) filed a claim in the United States District Court Central District of California, alleging that the Company violated certain provisions of agreements governing transactions related to the August 13, 2007 sale of the Company’s advertising distribution business to DGFC. DGFC alleged that (i) the Company did not fulfill its obligation to restrict a former employee from competing against DGFC subsequent to the transaction and, therefore, DGFC did not owe the Company $412,500 related to that portion of the transaction; (ii) the Company violated the noncompetition agreement between DGFC and the Company by distributing advertising content after the transaction; (iii) due to the violation of the noncompetition agreement, the post production services agreement that required DGFC to continue to vault its customers’ physical elements at the Company’s Media Center became null and void; and (iv) the Company must return all of DGFC’s vaulted material to DGFC. DGFC also sought unspecified monetary damages.

In September 2010, a settlement between the parties included the following: (1) The Company will be subject to a permanent injunction (until August 13, 2012) from competing in the commercial spot advertising business (as defined), (2) the Company will deliver to DGFC vaulted elements which will result in an annual reduction of vaulting revenues of approximately $0.9 million, (3) the Company will not be entitled to $412,500 (relating to the working capital reconciliation), (4) the Company will issue 250,000 shares of common stock to DGFC and (5) the parties will enter into full mutual releases and will dismiss their respective claims with prejudice. DGFC also received the right to sell the shares to the Company’s Chief Executive Officer for $500,000 on the six-month anniversary date of the agreement.

In connection with the settlement, the Company indemnified its Chief Executive Officer against possible losses should DGFC exercise its right to put the stock to the Chief Executive Officer, and there is a negative difference between the stated $500,000 value of the stock ($2.00 per share) and the market value on the date of the put. Alternatively, the Chief Executive Officer had the right to sell the 250,000 shares to the Company for $500,000. In April 2011, the Chief Executive Officer purchased from DGFC the put shares for $500,000, and the Company purchased from the Chief Executive Officer the 250,000 shares for $500,000 and immediately canceled the shares. In the fiscal year ended June 30, 2011, the put option expense was $152,000.

In November 2010, DGFC filed an ex parte application for enforcement of the settlement agreement and related stipulated injunction alleging that the Company violated the terms thereof and seeking an order enforcing the settlement agreement, an order to assess civil contempt charges and other remedies, and an order referring criminal allegations against the Company to the U.S. Attorney’s Office. In September 2011, the Court denied the ex parte application.

From time to time, the Company may become a party to other legal actions and complaints arising in the ordinary course of business, although it is not currently involved in any such material legal proceedings except as described above.

NOTE 5- INCOME TAXES

The Company reviewed its ASC 740-10 documentation for the periods through March 31, 2012 to ascertain if any changes should be made with respect to tax positions previously taken. In addition, the Company reviewed its income tax reporting through March 31, 2012. Based on Company’s review of its tax positions as of March 31, 2012, no new uncertain tax positions have resulted; nor has new information become available that would change management’s judgment with respect to tax positions previously taken.

As of March 31, 2012, the Company's net deferred tax assets were nil. No tax benefit was recorded during the three and nine month periods ended March 31, 2012 because future realizability of such benefit was not considered to be more likely than not. At March 31, 2012, the Company had a gross deferred tax asset of $9.3 million, and a corresponding valuation allowance of $9.3 million. At June 30, 2011, the Company had a gross deferred tax asset of $9.1 million, and a corresponding valuation allowance of $9.1 million.

The ASC prescribes a recognition and measurement of a tax position taken or expected to be taken in a tax return and provides guidance on derecognition of tax benefits, classification on the balance sheet, interest and penalties, accounting in interim periods, disclosure, and transition.

The Company files income tax returns in the U.S. federal jurisdiction, and various state jurisdictions. With few exceptions, the Company is no longer subject to U.S. federal state or local income tax examinations by tax authorities for years before 2002. The Company has analyzed its filing positions in all of the federal and state jurisdictions where it is required to file income tax returns. The Company was last audited by New York taxing authorities for the years 2002 through 2004 resulting in no change. The Company was previously notified by the U.S Internal Revenue Service of its intent to audit the calendar 2005 tax return. The audit has since been cancelled by the IRS without change; however, the audit could be reopened at the IRS’ discretion.

The Company was notified by the IRS in September 2009 of its intent to audit federal tax returns for calendar year 2006 and the period from January 1 to August 13, 2007.

During fiscal 2010, the Company received a federal tax refund of approximately $0.4 million related to refunds due for tax year 2005. In July 2010, the Company received a refund of $1.5 million related to tax year 2006.

The Company was notified by the Franchise Tax Board in April 2011 of its intent to audit California tax returns for the fiscal years ended June 30, 2008 and 2009. The audit was performed and concluded with no change.

NOTE 6- STOCK OPTION PLAN, STOCK-BASED COMPENSATION

In May 2007, the Board of Directors approved the 2007 Equity Incentive Plan (the “2007 Plan”). The 2007 Plan provides for the award of options to purchase up to 2,000,000 shares of common stock, appreciation rights and restricted stock awards.

Under the 2007 Plan, the stock option price per share for options granted is determined by the Board of Directors and is based on the market price of the Company’s common stock on the date of grant, and each option is exercisable within the period and in the increments as determined by the Board, except that no option can be exercised later than ten years from the grant date. The stock options generally vest in one to five years.

In November 2010, the shareholders approved the 2010 Incentive Plan (the “2010 Plan”). The 2010 Plan provides for the award of options to purchase up to 4,000,000 shares of common stock, appreciation rights and restricted stock and performance awards.

Under the 2010 Plan, the stock option price per share for options granted is determined by the Board of Directors and is based on the market price of the Company’s common stock on the date of grant, and each option is exercisable within the period and in the increments as determined by the Board, except that no option can be exercised later than ten years from the grant date. The stock options generally vest in one to five years.

The Company measures and recognizes compensation expense for all share-based payment awards made to employees and directors based on estimated fair values. We also estimate the fair value of the award that is ultimately expected to vest to be recognized as expense over the requisite service periods in our Condensed Consolidated Statements of Operations.

We estimate the fair value of share-based payment awards to employees and directors on the date of grant using an option-pricing model. The value of the portion of the award that is ultimately expected to vest is recognized as expense over the requisite service periods in the Company’s Condensed Consolidated Statements of Operations. Stock-based compensation expense recognized in the Condensed Consolidated Statements of Operations for the three and nine month periods ended March 31, 2012 included compensation expense for the share-based payment awards based on the grant date fair value. For stock-based awards issued to employees and directors, stock-based compensation is attributed to expense using the straight-line single option method. As stock-based compensation expense recognized in the Condensed Consolidated Statements of Operations for the periods reported in this Form 10-Q is based on awards expected to vest, forfeitures are also estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. For the periods being reported in this Form 10-Q, expected forfeitures are immaterial. The Company will re-assess the impact of forfeitures if actual forfeitures increase in future quarters. Stock-based compensation expense related to employee or director stock options recognized for the three and nine month periods ended March 31, 2012 and 2011 was as follows:

Three months ended March 31, 2012	$	65,000
Three months ended March 31, 2011		76,000
Nine months ended March 31, 2012		252,000
Nine months ended March 31, 2011		232,000

The Company’s determination of fair value of share-based payment awards to employees and directors on the date of grant uses the Black-Scholes model, which is affected by the Company’s stock price as well as assumptions regarding a number of complex and subjective variables. These variables include, but are not limited to, the expected stock price volatility over the expected term of the awards, and actual and projected employee stock options exercise behaviors. The Company estimates expected volatility using historical data. The expected term is estimated using the “safe harbor” provisions provided by the SEC.

During each of the three and nine month periods ended March 31, 2012 and 2011, the Company granted awards of stock options as follows:

	2007 Plan		2010 Plan
	Options	Exercise	Options	Exercise
	Granted	Price per Share	Granted	Price per Share
Three months ended March 31, 2012	-	-	247,000	$0.95
Three months ended March 31, 2011	329,800	$0.86	222,200	$0.86
Nine months ended March 31, 2012	30,000	$1.07	247,000	$0.95
Nine months ended March 31, 2011	374,800	$0.89	222,200	$0.86

As of March 31, 2012, there were options outstanding to acquire 2,496,225 shares at an average exercise price of $1.32 per share.

The following table summarizes the status of the 2007 and 2010 Plans as of March 31, 2012:

	2007 Plan	2010 Plan	Total
Options originally available	2,000,000	4,000,000	6,000,000
Stock options outstanding	1,956,650	539,575	2,496,225
Options available for grant	31,350	3,460,425	3,491,775

Transactions involving stock options are summarized as follows:

	Number of Shares			Weighted Average Exercise Price		Weighted Average Grant Date Fair Value

Balance at June 30, 2011		2,233,475		$	1.36	$	0.65
Granted		-		$	-	$	-
Exercised		-		$	-	$	-
Cancelled		(11,000	)	$	1.45	$	0.68

Balance at September 30, 2011		2,222,475		$	1.36	$	0.65
Granted		30,000		$	1.07	$	0.57
Exercised		-		$	-	$	-
Cancelled		(2,750	)	$	1.64	$	0.73

Balance at December 31, 2011		2,249,725		$	1.36	$	0.65
Granted		247,000		$	0.95	$	0.57
Exercised		-		$	-	$	-
Cancelled		(500	)	$	1.07	$	0.49

Balance at March 31, 2012		2,496,225		$	1.32	$	0.64

As of March 31, 2012, the total compensation costs related to non-vested awards yet to be expensed was approximately $0.4 million to be amortized over the next four years.

The weighted average exercise prices for options granted and exercisable and the weighted average remaining contractual life for options outstanding as of March 31, 2012 were as follows:

As of March 31, 2012	Number of Shares	Weighted Average Exercise Price	Weighted Average Remaining Contractual Life (Years)	Intrinsic Value

Employees – Outstanding	2,261,225	$1.32	2.53	$3,000
Employees – Expected to Vest	2,035,103	$1.32	2.53	$3,000
Employees – Exercisable	1,316,344	$1.55	1.56	--

Non-Employees-Outstanding	235,000	$1.30	2.20	--
Non-Employees- Expected to Vest	235,000	$1.30	2.20	--
Non-Employees-Exercisable	223,750	$1.44	2.13	--

The aggregate intrinsic value in the table above is the sum of the amounts by which the quoted market price of our common stock exceeded the exercise price of the options at March 31, 2012, for those options for which the quoted market price was in excess of the exercise price.

Additional information with respect to outstanding options as of March 31, 2012 is as follows (shares in thousands):

Options Outstanding			Options Exercisable
Options Exercise Price Range	Number of Shares	Weighted Average Remaining Contractual Life	Weighted Average Exercise Price	Number of Shares	Weighted Average Exercise Price
$1.79	941	0.9 Years	$1.79	941	$1.79
$1.37	30	1.6 Years	$1.37	30	$1.37
$1.29	304	2.9 Years	$1.29	152	$1.29
$1.27	15	3.5 Years	$1.27	4	$1.27
$1.20	249	1.9 Years	$1.20	187	$1.20
$1.15	30	3.6 Years	$1.15	30	$1.15
$1.07	30	4.7 Years	$1.07	30	$1.07
$1.05	30	2.6 Years	$1.05	30	$1.05
$0.95	247	5.0 Years	$0.95	-	$0.95
$0.86	545	3.9 Years	$0.86	136	$0.86
$0.75	75	4.1 Years	$0.75	-	$0.75

In addition to the above 2007 Plan, the Company issued 10,000 shares of restricted stock during fiscal year ended June 30, 2010 with a weighted average fair value of $0.58 per share.

We use the detailed method provided in ASC 718 for calculating the beginning balance of the additional paid-in capital pool (APIC pool) related to the tax effects of employee stock-based compensation, and to determine the subsequent impact on the APIC pool and Consolidated Statements of Cash Flows of the tax effects of employee stock-based compensation awards that are outstanding upon adoption of ASC 718.

NOTE 7- STOCK RIGHTS PLAN

In July 2007, the Company implemented a stock rights program. Pursuant to the program, stockholders of record on August 7, 2007, received a dividend of one right to purchase for $10 one one-hundredth of a share of a newly created Series A Junior Participating Preferred Stock. The rights are attached to the Company’s Common Stock and will also become attached to shares issued subsequent to August 7, 2007. The rights will not be traded separately and will not become exercisable until the occurrence of a triggering event, defined as an accumulation by a single person or group of 20% or more of the Company’s Common Stock. The rights will expire on August 6, 2017 and are redeemable at $0.0001 per right.

After a triggering event, the rights will detach from the Common Stock. If the Company is then merged into, or is acquired by, another corporation, the Company has the opportunity to either (i) redeem the rights or (ii) permit the rights holder to receive in the merger stock of the Company or the acquiring company equal to two times the exercise price of the right (i.e., $20). In the latter instance, the rights attached to the acquirer’s stock become null and void. The effect of the rights program is to make a potential acquisition of the Company more expensive for the acquirer if, in the opinion of the Company’s Board of Directors, the offer is inadequate.

No triggering events occurred in the nine months ended March 31, 2012.

NOTE 8- SHAREHOLDER’S EQUITY

The following table analyzes the components of shareholders’ equity from June 30, 2011 to March 31, 2012 (in thousands):

	Common Stock		Paid-in Capital		Accumulated (Deficit)			Shareholders’ Equity
Balance, June 30, 2011	$	21,695	$	10,125	$	(22,331	)	$	9,489
Stock-based compensation expense		-		85		-			85
Net income		-		-		109			109
Balance, September 30, 2011		21,695		10,210		(22,222	)		9,683

Stock-based compensation expense		-		102		-			102
Net income		-		-		51			51
Balance, December 31, 2011	$	21,695	$	10,312	$	(22,171	)	$	9,836

Stock-based compensation expense		-		65		-			65
Net loss		-		-		(327	)		(327	)
Balance, March 31, 2012	$	21,695	$	10,377	$	(22,498	)	$	9,574

NOTE 9- STOCK REPURCHASE PLAN

In February 2008, the Company’s Board of Directors authorized a stock repurchase program. Under the stock repurchase program, the Company may purchase outstanding shares of its common stock on the open market at such times and prices determined in the sole discretion of management. No shares were acquired pursuant to the repurchase program during the three and nine month periods ended March 31, 2012.

NOTE 10- SEGMENT INFORMATION:

In its operation of the business, management reviews certain financial information, including segmented internal profit and loss statements prepared on a basis consistent with U.S. generally accepted accounting principles. Our two segments are Point.360 and Movie>Q. The two segments discussed in this analysis are presented in the way we internally managed and monitored performance for the three and nine month periods ended March 31, 2012 and 2011. Allocations for internal resources were made for the three and nine month periods ended March 31, 2012 and 2011. The Movie>Q segment tracks certain assets separately, and all others are recorded in the Point.360 segment for internal reporting presentations. Cash was not segregated between the two segments but retained in the Point.360 segment.

The types of services provided by each segment are summarized below:

Point.360 – The Point.360 segment provides high definition and standard definition digital mastering, data conversion, video and film asset management and sophisticated computer graphics services to owners, producers and distributors of entertainment and advertising content. Point.360 provides the services necessary to edit, master, reformat, convert, archive and ultimately distribute its clients’ film and video content, including television programming feature films and movie trailers. The segment’s interconnected facilities provide service coverage to all major U.S. media centers. Clients include major motion picture studios and independent producers.

Movie>Q – The Movie>Q segment rents and sells DVDs and video games directly to consumers though its retail stores. The stores employ an automated inventory management (“AIM”) system in a 1,200-1,600 square foot facility. By saving space and personnel costs which caused the big box stores to be uncompetitive with lower priced online and vending machine rental alternatives, Movie>Q can offer up to 10,000 unit selections to a customer at competitive rental rates. Movie>Q provides online reservations, an in-store destination experience, first run movie and game titles and a large unit selection.

Segment revenues, operating loss and total assets were as follows (in thousands):

Revenue	Three Months Ended March 31,				Nine Months Ended March 31,
	2012		2011		2012		2011
Point.360	$	8,358	$	9,110	$	25,586	$	26,179
Movie>Q		139		148		422		421
Consolidated revenue	$	8,497	$	9,258	$	26,008	$	26,600

Operating income (loss)	Three Months Ended March 31,						Nine Months Ended March 31,
	2012			2011			2012			2011
Point.360	$	(39	)	$	187		$	606		$	(1,501	)
Movie>Q⁽¹⁾		(166	)		(842	)		(503	)		(1,602	)
Operating income (loss)	$	(205	)	$	(655	)	$	103		$	(3,103	)

Total Assets	March 31,		June 30,
	2012		2011
Point.360	$	25,603	$	23,608
Movie>Q		1,571		1,787
Consolidated assets	$	27,174	$	25,395

⁽¹⁾ Includes R&D expenses related to the Movie>Q project

ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

Except for the historical information contained herein, certain statements in this quarterly report are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995, which involve certain risks and uncertainties, which could cause actual results to differ materially from those discussed herein, including but not limited to competition, customer and industry concentration, depending on technological developments, risks related to expansion, dependence on key personnel, fluctuating results and seasonality and control by management. See the relevant portions of the Company's documents filed with the Securities and Exchange Commission, including the Risk Factors section of the Company’s most recent annual report on Form 10-K, and Risk Factors in Item 1A of Part II of this Form 10-Q, for a further discussion of these and other risks and uncertainties applicable to the Company's business.

Overview

Point.360 is one of the largest providers of video and film asset management services to owners, producers and distributors of entertainment content. We provide the services necessary to edit, master, reformat and archive our clients’ film and video content, including television programming, feature films and movie trailers using electronic and physical means. Clients include major motion picture studios and independent producers. The Company also rents and sells DVDs and video games directly to consumers through its Movie>Q retail stores.

We operate in a highly competitive environment in which customers desire a broad range of services at a reasonable price. There are many competitors offering some or all of the services provided by us. Additionally, some of our customers are large studios, which also have in-house capabilities that may influence the amount of work outsourced to companies like Point.360. We attract and retain customers by maintaining a high service level at reasonable prices.

The market for our services is primarily dependent on our customers’ desire and ability to monetize their entertainment content. The major studios derive revenues from re-releases and/or syndication of motion pictures and television content. While the size of this market is not quantifiable, we believe studios will continue to repurpose library content to augment uncertain revenues from new releases. The current uncertain economic environment has negatively impacted the ability and willingness of independent producers to create new content.

The demand for entertainment content should continue to expand through web-based applications. We believe long and short form content will be sought by users of personal computers, hand-held devices and home entertainment technology. Additionally, changing formats from standard definition, to high definition, to Blu-Ray and perhaps to 3D will continue to give us the opportunity to provide new services with respect to library content. We also believe that a potentially large consumer market exists for the rental of DVDs and video games, which market is being abandoned by “big box” DVD rental stores.

To meet these needs, we must be prepared to invest in technology and equipment, and attract the talent needed to serve our client needs. Labor, facility and depreciation expenses constitute approximately 85% of our revenues. Our goals include maximizing facility and labor usage, and maintaining sufficient cash flow for capital expenditures and acquisitions of complementary businesses to enhance our service offerings.

We have an opportunity to expand our business by establishing closer relationships with our customers through excellent service at a competitive price and adding to our service offering. Our success is also dependent on attracting and maintaining employees capable of maintaining such relationships. Also, growth can be achieved by acquiring similar businesses (for example, the acquisitions of IVC in July 2004, Eden FX in March 2007 and others) that can increase revenues by adding new customers, or expanding current services to existing customers. Additionally, we are looking to capitalize on the Movie>Q retail opportunity.

Our business generally involves the immediate servicing needs of our customers. Most orders are fulfilled within several days, with occasional larger orders spanning weeks or months. At any particular time, we have little firm backlog.

We believe that our interconnected facilities provide the ability to better service customers than single-location competitors. We will look to expand both our service offering and geographical presence through acquisition of other businesses or opening additional facilities.

Three Months Ended March 31, 2012 Compared to Three Months Ended March 31, 2011

Revenues. Revenues were $8.5 million for the three months ended March 31, 2012, compared to $9.3 million for the three months ended March 31, 2011. The decrease was due principally to the timing of orders for our major customers. We are continuing to invest in file-based capabilities where demand is expected to grow. We completed our move of one of our Burbank operations into newly renovated space in our Media Center facility in the third quarter of fiscal 2012, and to date the move has not adversely impacted revenues.

Cost of Services. Costs of services consist principally of wages and benefits, facility costs and depreciation of physical assets. During the quarter ended March 31, 2012, total costs of services declined by $0.3 million, and were 67% of sales compared to 65% in the prior year. Wages and benefits declined due to the reorganization of functions associated with the shift from physical to file based processes. This also contributed to a lesser demand for tape stock material. Beginning in the fourth quarter of fiscal 2012, we expect facility costs to decrease by approximately $0.3 million per quarter due to the move of one of our Burbank locations to our Media Center facility.

Gross Profit. In the three months ended March 31, 2012, gross margin was 33% of sales, compared to 35% for the same period last year. The decrease in gross profit percentage is due to lower sales. From time to time, we will increase or decrease staff capabilities to satisfy potential customer service demand. We expect gross margins to fluctuate in the future as the sales mix changes.

Selling, General and Administrative Expense. SG&A expense was $3.0 million (36% of sales) in the three months ended March 31, 2012 as compared to $3.2 million (35% of sales) in the same period last year. SG&A personnel costs and depreciation expense decreased $0.1 million and $0.1 million, respectively, in the current period when compared to last year’s period.

Research and Development Expense. During the fiscal year ended June 30, 2010, the Company undertook a research and development project to evaluate, develop and commercialize “automated” stores to rent and sell digital video discs (DVDs). The Movie>Q stores will contain up to 10,000 DVDs for rent or sale via a software-controlled automated inventory management (AIM) system contained in 1,200 to 1,600 square feet of retail space for each store. As of March 31, 2012, three Movie>Q stores were completed. Expenses associated with R&D activities were $18,000 for the quarter ended March 31, 2011.

Impairment of Long Lived Assets. During the period ended March 31, 2011, the Movie>Q R&D proof of concept was completed. With the selection of the AIM system as the operative DVD distribution method, we determined that the kiosk assets were impaired for accounting purposes, resulting in an impairment charge of $684,000.

Operating Loss. Operating loss was $0.2 million in the fiscal 2012 period, compared to a $0.7 million loss in the same period last year.

Interest Expense. Net interest expense was $0.2 million in both quarterly periods.

Other Income. Other income in the current year period represents principally sublease income. In last year’s period, other income included a $1.0 million settlement.

Net Income (Loss). Net loss was $0.3 million in the fiscal 2012 period, compared to a net income of $0.2 million in the 2011 period. Excluding the impairment charge and settlement income, the Company incurred a $0.1 loss in the quarter ended March 31, 2011.

Nine Months Ended March 31, 2012 Compared to Nine Months Ended March 31, 2011

Revenues. Revenues were $26.0 million for the nine months ended March 31, 2012, compared to $26.6 million for the nine months ended March 31, 2012. Service revenues remained consistent between the periods. We are continuing to invest in file-based capabilities where demand is expected to grow. We completed the move of one of our Burbank operations into newly renovated space in our Media Center facility in the third quarter of fiscal 2012.

Cost of Services. Costs of services consist principally of wages and benefits, facility costs and depreciation of physical assets. During the nine months ended March 31, 2012, total costs of services declined $1.8 million, and were 64% of sales compared to 70% in the prior year. The majority of the decrease was associated with wages and benefits and material costs. Wages and benefits declined due to the reorganization of functions associated with the shift from physical to file based processes. This also contributed to a lesser demand for tape stock material. Beginning in the fourth quarter of fiscal 2012, we expect facility costs to decrease by approximately $0.3 million per quarter due to the move of one of our Burbank locations to our Media Center facility.

Gross Profit. In the nine months ended March 31, 2012, gross margin was 36% of sales, compared to 31% for the same period last year. The increase in gross profit percentage is due to the factors cited above. From time to time, we will increase or decrease staff capabilities to satisfy potential customer service demand. We expect gross margins to fluctuate in the future as the sales mix changes.

Selling, General and Administrative Expense. SG&A expense was $9.2 million (35% of sales) in the nine months ended March 31, 2012 as compared to $10.2 million (38% of sales) in the same period last year. SG&A personnel costs, professional fees, and depreciation decreased $0.6 million $0.3 million and $0.3 million, respectively, in the current period when compared to last year’s period.

Research and Development Expense. During the fiscal year ended June 30, 2010, the Company undertook a research and development project to evaluate, develop and commercialize “automated” stores to rent and sell digital video discs (DVDs). The Movie>Q stores can contain up to 10,000 DVDs for rent or sale via a software-controlled automated inventory management (AIM) system contained in 1,200 to 1,600 square feet of retail space for each store. As of March 31, 2012, three Movie>Q stores were completed. Expenses associated with R&D activities were $0.4 million for the nine months ended March 31, 2011.

Operating Income (Loss). Operating income was $0.1 million in the fiscal 2012 period, compared to a $3.1 million loss in the same period last year.

Interest Expense. Net interest expense was $0.6 million in both quarterly periods.

Other Income. Other income in the current year period represents principally sublease income. In last year’s period, other income included a $1.0 million settlement.

Net Loss. Net loss was $0.2 million in the fiscal 2012 period, compared to a net loss of $2.4 million in the 2011 period. Excluding the impairment charge and settlement income, the loss for the nine months ended march 31, 2011 was $2.7 million.

LIQUIDITY AND CAPITAL RESOURCES

This discussion should be read in conjunction with the notes to the financial statements and the corresponding information more fully described elsewhere in this Form 10-Q.

In July 2008, the Company entered into a Promissory Note with a bank (the “Note”) in order to purchase land and a building that has been occupied by the Company since 1998 (the total purchase price was approximately $8.1 million). Pursuant to the Note, the Company borrowed $6,000,000 payable in monthly installments of principal and interest on a fully amortized basis over 30 years at an initial five-year interest rate of 7.1% and thereafter at a variable rate equal to LIBOR plus 3.6% (6.4% as of the purchase date). The mortgage debt is secured by the land and building.

In June 2009, the Company entered into a $3,562,500 million Purchase Money Promissory Note secured by a Deed of Trust for the purchase of land and a building (“Vine Property”). The note bears interest at 7% fixed for ten years. The principal amount of the note is payable on June 12, 2019. The note is secured by the property.

In November 2010, the Company converted approximately $1 million of accounts payable into a note secured by a lien of all the Company’s assets, which security interest was subordinated to that of the $3 million credit agreement and other term and mortgage debt. The note was due in 48 monthly installments of $20,000 plus interest at 3% per annum and could be prepaid at any time. The total amount due under the note is subject to a 12.5% or 6% discount if totally paid within 12 months or 18 months, respectively. In April 2011, the Company received $1 million in settlement of a claim, and prepaid $333,000 of the above $1 million note. The remaining amount due under the note was paid in October, 2011, at a 12.5% discount.

Monthly and annual principal and interest payments due under the term debt and mortgages are approximately $264,000 and $3.1 million, respectively, assuming no change in interest rates.

In January 2011, the Company entered into a credit agreement which provides $1 million of credit based on 85% of acceptable accounts receivable, as defined. The loan and security agreement provides for interest at prime rate plus 2% with an interest floor of 5.25%. In addition, the Company paid a monthly “maintenance” fee of 0.6% of the outstanding daily loan balance (an equivalent annual fee of 7.2%), and an annual commitment fee of 1% of the amount of the credit facility. Amounts outstanding under the agreement are secured by all of the Company’s assets other than real estate and are payable on demand. In March 2011, the credit limit was increased to $3 million based on 80% of acceptable accounts receivable, as defined. In November 2011, the credit limit was reduced to 80% of acceptable accounts receivable less $300,000, the interest rate was reduced to prime plus 0.5% (currently 3.75%) with an interest floor of 3.75%, and the monthly maintenance fee was reduced to 0.4% (an equivalent annual fee of 4.8%). As of March 31, 2012, the Company owed $1.3 million under the credit agreement.

The following table summarizes the March 31, 2012 amounts outstanding under our line of credit, note payable, and term (including capital lease obligations) and mortgage loans:

Line of credit	$	1,267,000
Current portion of notes payable, capital leases and mortgages		271,000
Long-term portion of notes payable, capital leases and mortgages		9,302,000
Total	$	10,840,000

The Company’s cash balance decreased from $355,000 on July 1, 2011 to $42,000 on March 31, 2012, due to the following:

Balance July 1, 2011	$	355,000
Increase in accounts receivable		(808,000	)
Increase in accounts payable		171,000
Increase in accrued expenses		378,000
Cash provided by other operating activities		2,088,000
Capital expenditures for property and equipment		(3,175,000	)
Decrease in notes payable		(675,000	)
Line of credit borrowings		94,000
Changes in other assets and liabilities (A)		1,614,000
Balance March 31, 2012	$	42,000

(A) Includes changes in liabilities related to deferred lease incentive.

Cash generated by operating activities is directly dependent upon sales levels and gross margins achieved. We generally receive payments from customers in 60-120 days after services are performed. The larger payroll and facilities components of our cost structure must be paid currently. Payment terms of other liabilities vary by vendor and type. Fluctuations in sales levels will generally affect cash flow negatively or positively in early periods of growth or contraction, respectively, because of operating cash receipt/payment timing. Other investing and financing cash flows also affect cash availability.

In fiscal 2012 and 2011, the underlying drivers of operating cash flows (sales, receivable collections, the timing of vendor payments, facility costs and employment levels) have been consistent. Sales outstanding in accounts receivable have increased from approximately 71 days to 80 days within the last 12 months. We do not expect days sales outstanding to materially fluctuate in the future.

As of March 31, 2012, our facility costs consisted of building rent, maintenance and communication expenses. In July 2008, rents were reduced by the purchase of our Hollywood Way facility in Burbank, CA, eliminating approximately $625,000 of annual rent expense. The real estate purchase involved a down payment of $2.1 million and $6 million of mortgage debt. The mortgage payments are approximately $489,000 per year.

In March 2009, the lease on one of our facilities in Hollywood, CA (“Highland”) expired and the Company became a holdover tenant. The landlord issued a Notice to Quit which required us to move out of the facility. The Highland operations have been housed at another Company facility. Our Eden FX facility was moved to our West Los Angeles location in September 2010.

The Company purchased the Vine Property in June 2009. The purchase price of the Vine Property was $4.75 million, $1.2 million of which was paid in cash with the balance being financed by the seller over ten years, interest only at 7% for the entire term, with the principal amount being due at the end of the term. Building renovations, which are currently being evaluated, will cost about $1.5 million.

In June 2011, the Company entered into a lease amendment with respect to the Company’s Media Center facility. The amendment provides that the landlord would reimburse the Company for up to $2 million of improvements to be made to the premises. The amendment also provides that the Company’s monthly rent cost would increase approximately $14,000 on July 1, 2011, and an additional $13,000 to approximately $27,000 on April 1, 2012.

As of March 31, 2012, the Company had incurred $2.0 million of costs for construction, of which $1.7 million had been reimbursed by the landlord. The Company completed the project and vacated one of its Burbank facilities on the February 28, 2012 expiration of the related lease and move to the Media Center space. Total annual savings beginning in March 2012 are expected to be approximately $1.2 million.

We believe our current cash position and a difficult economy may provide us with the opportunity to invest in facility assets that will not only help fix our operating costs, but give us the potential to own appreciating real estate assets. We will continue to evaluate opportunities to reduce facility costs.

The following table summarizes contractual obligations as of March 31, 2012 due in the future:

	Payment due by Period
Contractual Obligations	Total		Less than 1 Year		Years 2 and 3		Years 4 and 5		Thereafter
Long-Term Debt Principal Obligations	$	9,331,000	$	76,000	$	184,000	$	214,000	$	8,857,000
Long-Term Debt Interest Obligations ⁽¹⁾		8,183,000		662,000		1,246,000		1,201,000		5,074,000
Capital Lease Obligations		242,000		195,000		47,000		-		-
Capital Lease Interest Obligations		13,000		12,000		1,000		-		-
Operating Lease Obligations		16,682,000		1,971,000		3,730,000		3,835,000		7,146,000
Line of Credit Obligations		1,267,000		1,267,000		-		-		-
Total	$	35,718,000	$	4,183,000	$	5,208,000	$	5,250,000	$	21,077,000

⁽¹⁾Interest on variable rate debt has been computed using the rate on the latest balance sheet date.

As described elsewhere in this Form 10-Q, the Company began a research and development project in Fiscal 2010 to create “proof of concept” stores to distribute digital video discs (DVDs) to consumers. The Company hopes to capture a portion of the DVD rental market being vacated by the closure of many larger distribution vendors (e.g., Blockbuster and Hollywood Video) locations. The Company has initially issued stock (valued at $500,000) and cash for assets and intellectual property, and spent $3.7 million in Fiscal 2010 and $1.0 million in Fiscal 2011 to test the concept. We finalized the proof-of-concept in March 2011. Since then, the quarterly negative cash flow (defined as earnings before interest, taxes, depreciation and amortization) for each of the three stores has averaged $15,000 on revenues of $47,000. We estimate that cash flow break even can be achieved on revenues of $60,000 per quarter per store, which level may be lower if administrative costs were spread over a larger number of stores. The estimated cost of opening a store (physical build-out and inventory) is approximately $200,000 in the current store configuration. Further expansion of Movie>Q will depend on the availability of additional funding.

During the past year, the Company had generated sufficient cash flow to meet operating, capital expenditure and debt service needs and most of its other obligations. The Company also received in July 2010 a refund of $1.5 million in federal income taxes for the tax year 2006, and a $1 million settlement of a claim in April 2011. When preparing estimates of future cash flows, we consider historical performance, technological changes, market factors, industry trends and other criteria. In our opinion, the Company will continue to be able to fund its needs for the foreseeable future.

We will continue to consider the acquisition of businesses which compliment our current operations and possible real estate transactions. Consummation of any acquisition, real estate or other expansion transaction by the Company may be subject to the Company securing additional financing, perhaps at a cost higher than our existing line of credit and term loans. In the current economic climate, additional financing may not be available. Future earnings and cash flow may be negatively impacted to the extent that any acquired entities do not generate sufficient earnings and cash flow to offset the increased financing costs.

CRITICAL ACCOUNTING POLICIES AND ESTIMATES

Our discussion and analysis of our financial condition and results of operations are based upon our consolidated financial statements, which have been prepared in accordance with accounting principles generally accepted in the United States of America. The preparation of these financial statements requires us to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosure of contingent assets and liabilities. On an on-going basis, we evaluate our estimates and judgments, including those related to allowance for doubtful accounts, valuation of long-lived assets, and accounting for income taxes. We base our estimates on historical experience and on various other assumptions that we believe to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions and conditions. We believe the following critical accounting policies affect our more significant judgments and estimates used in the preparation of our consolidated financial statements.

Critical accounting policies are those that are important to the portrayal of the Company’s financial condition and results, and which require management to make difficult, subjective and/or complex judgments. Critical accounting policies cover accounting matters that are inherently uncertain because the future resolution of such matters is unknown. We have made critical estimates in the following areas:

Revenues. We perform a multitude of services for our clients, including film-to-tape transfer, video and audio editing, standards conversions, adding special effects, duplication, distribution, etc. A customer orders one or more of these services with respect to an element (movie, trailer, electronic press kit, etc.). The sum total of services performed on a particular element (a “package”) becomes the deliverable (i.e., the customer will pay for the services ordered in total when the entire job is completed). Occasionally, a major studio will request that package services be performed on multiple elements. Each element creates a separate revenue stream which is recognized only when all requested services have been performed on that element. At the end of an accounting period, revenue is accrued for un-invoiced but shipped work.

Certain jobs specify that many discrete tasks must be performed which require up to four months to complete. In such cases, we use the proportional performance method for recognizing revenue. Under the proportional performance method, revenue is recognized based on the value of each stand-alone service completed.

In some instances, a client will request that we store (or “vault”) an element for a period ranging from a day to indefinitely. The Company attempts to bill customers a nominal amount for storage, but some customers, especially major movie studios, will not pay for this service. In the latter instance, storage is an accommodation to foster additional business with respect to the related element. It is impossible to estimate (i) the length of time we may house the element, or (ii) the amount of additional services we may be called upon to perform on an element. We do not treat vaulting as a separate deliverable in those instances in which the customer does not pay.

The Company records all revenues when all of the following criteria are met: (i) there is persuasive evidence that an arrangement exists; (ii) delivery has occurred or the services have been rendered; (iii) the Company’s price to the customer is fixed or determinable; and (iv) collectability is reasonably assured. Additionally, in instances where package services are performed on multiple elements or where the proportional performance method is applied, revenue is recognized based on the value of each stand-alone service completed.

Allowance for doubtful accounts. We are required to make judgments, based on historical experience and future expectations, as to the collectability of accounts receivable. The allowances for doubtful accounts and sales returns represent allowances for customer trade accounts receivable that are estimated to be partially or entirely uncollectible. These allowances are used to reduce gross trade receivables to their net realizable value. The Company records these allowances as a charge to selling, general and administrative expenses based on estimates related to the following factors: (i) customer specific allowance; (ii) amounts based upon an aging schedule and (iii) an estimated amount, based on the Company’s historical experience, for issues not yet identified.

Valuation of long-lived and intangible assets. Long-lived assets, consisting primarily of property, plant and equipment and intangibles, comprise a significant portion of the Company’s total assets. Long-lived assets are reviewed for impairment whenever events or changes in circumstances have indicated that their carrying amounts may not be recoverable. Recoverability of assets is measured by comparing the carrying amount of an asset to its fair value in a current transaction between willing parties, other than in a forced liquidation sale.

Factors we consider important which could trigger an impairment review include the following:

	·	Significant underperformance relative to expected historical or projected future operating results;

	·	Significant changes in the manner of our use of the acquired assets or the strategy of our overall business;

	·	Significant negative industry or economic trends;

	·	Significant decline in our stock price for a sustained period; and

	·	Our market capitalization relative to net book value.

When we determine that the carrying value of intangibles and long-lived assets may not be recoverable based upon the existence of one or more of the above indicators of impairment, we measure any impairment based on comparing the carrying amount of the asset to its fair value in a current transaction between willing parties or, in the absence of such measurement, on a projected discounted cash flow method using a discount rate determined by our management to be commensurate with the risk inherent in our current business model. Any amount of impairment so determined would be written off as a charge to the statement of operations, together with an equal reduction of the related asset. Net long-lived assets amounted to approximately $18.1 million as of March 31, 2012.

During the fiscal year ended June 30, 2011, the Company determined that certain unutilized assets related to our Movie>Q business segment were impaired, resulting in a write-off. We concluded that there were no other triggering events under ASC 360-10-35 and, accordingly, further impairment testing was not performed as of that date.

Research and Development. Research and development costs include expenditures for planned search and investigation aimed at discovery of new knowledge to be used to develop new services or processes or significantly enhance existing processes. Research and development costs also include the implementation of the new knowledge through design, testing of service alternatives, or construction of prototypes. The cost of materials and equipment or facilities that are acquired or constructed for research and development activities and that have alternative future uses are capitalized as tangible assets when acquired or constructed. All other research and development costs are expensed as incurred.

Accounting for income taxes. As part of the process of preparing our consolidated financial statements, we are required to estimate our income taxes in each of the jurisdictions in which we operate. This process involves us estimating our actual current tax exposure together with assessing temporary differences resulting from differing treatment of items, such as deferred revenue, for tax and accounting purposes. These differences result in deferred tax assets and liabilities, which are included within our consolidated balance sheet. We must then assess the likelihood that our deferred tax assets will be recovered from future taxable income and to the extent we believe that recovery is not likely, we must establish a valuation allowance. To the extent we establish a valuation allowance or increase this allowance in a period, we must include an expense within the tax provision in the statement of operations.

At March 31, 2012, the Company has no uncertain tax positions. Significant management judgment is required in determining our provision for income taxes, our deferred tax assets and liabilities and any valuation allowance recorded against our net deferred tax assets. The deferred tax assets are fully reserved at March 31, 2012.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Market Risk. The Company had borrowings of $10.8 million on March 31, 2012 under line of credit, note payable and mortgage agreements. The line of credit and one mortgage loan were subject to variable interest rates. The weighted average interest rate paid during the first nine months of fiscal 2012 was 7.3%. For variable rate debt outstanding at March 31, 2012, a .25% increase in interest rates will increase annual interest expense by approximately $3,000. Amounts outstanding or that may become outstanding under the revolving credit facility provide for interest at the banks’ prime rate plus 5.3% (8.55% as of March 31, 2012). The Company’s market risk exposure with respect to financial instruments is to changes in the prime rate.

ITEM 4. CONTROLS AND PROCEDURES

Disclosure Controls and Procedures

Pursuant to Rule 13a-15(b) under the Securities Exchange Act of 1934 (the “Exchange Act”), the Company’s management, with the participation of the Chief Executive Officer and Chief Financial Officer, evaluated the effectiveness of the Company’s disclosure controls and procedures as of the end of the period covered by this report. Based on that evaluation, the Chief Executive Officer and Chief Financial Officer concluded that the Company’s disclosure controls and procedures were effective as of March 31, 2012.

Changes in Internal Control over Financial Reporting

The Chief Executive Officer and President and the Chief Financial Officer conducted an evaluation of our internal control over financial reporting (as defined in Exchange Act Rule 13a-15(f)) to determine whether any changes in internal control over financial reporting occurred during the quarter ended March 31, 2012 that have materially affected or which are reasonably likely to materially affect internal control over financial reporting. Based on the evaluation, no such change occurred during such period.

Internal control over financial reporting refers to a process designed by, or under the supervision of, our Chief Executive Officer and Chief Financial Officer and effected by our board of directors, management and other personnel, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles and includes those policies and procedures that:

Pertain to the maintenance of records that in reasonable detail accurately and fairly reflect the transactions and dispositions of our assets;

Provide reasonable assurance that transactions are recorded as necessary to permit the preparation of financial statements in accordance with generally accepted accounting principles, and that our receipts and expenditures are being made only in accordance with authorizations of our management and members of our board of directors; and

Provide reasonable assurance regarding the prevention or timely detection of unauthorized acquisition, use, or disposition of our assets that could have a material effect on our financial statements.

PART II – OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

ITEM 1A. RISK FACTORS

In our capacity as Company management, we may from time to time make written or oral forward-looking statements with respect to our long-term objectives or expectations which may be included in our filings with the Securities and Exchange Commission (the “SEC”), reports to stockholders and information provided on our web site.

The words or phrases “will likely,” “are expected to,” “is anticipated,” “is predicted,” “forecast,” “estimate,” “project,” “plans to continue,” “believes,” or similar expressions identify “forward-looking statements.” Such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from historical earnings and those presently anticipated or projected. We wish to caution you not to place undue reliance on any such forward-looking statements, which speak only as of the date made. We are calling to your attention important factors that could affect our financial performance and could cause actual results for future periods to differ materially from any opinions or statements expressed with respect to future periods in any current statements.

The following list of important factors may not be all-inclusive, and we specifically decline to undertake an obligation to publicly revise any forward-looking statements that have been made to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events. Among the factors that could have an impact on our ability to achieve expected operating results and growth plan goals and/or affect the market price of our stock are:

Recent history of losses.

Prior breaches and changes in credit agreements and ongoing liquidity.

Our highly competitive marketplace.

The risks associated with dependence upon significant customers.

Our ability to execute our expansion strategy.

The uncertain ability to manage in a changing environment.

Our dependence upon and our ability to adapt to technological developments.

Dependence on key personnel.

Our ability to maintain and improve service quality.

Fluctuation in quarterly operating results and seasonality in certain of our markets.

Possible significant influence over corporate affairs by significant shareholders.

	l	Our ability to operate effectively as a stand-alone, publicly traded company.
	l	The consequences of failing to implement effective internal controls over financial reporting as required by Section 404 of the Sarbanes-Oxley Act of 2002.

Other factors not identified above, including the risk factors described in the “Risk Factors” section of the Company’s June 30, 2011, Form 10-K filed with the Securities and Exchange Commission, may also cause actual results to differ materially from those projected by our forward-looking statements. Most of these factors are difficult to anticipate and are generally beyond our control. You should consider these areas of risk in connection with considering any forward-looking statements that may be made in this Form 10-Q and elsewhere by us and our business generally. Except to the extent of any obligation to disclose material information under the federal securities laws or the rules of the NASDAQ Global Market, we undertake no obligation to release publicly any revisions to any forward-looking statements, to report events or to report the occurrence of unanticipated events.

ITEM 6. EXHIBITS

(a)

Exhibits

31.1

Certification of Chief Executive Officer Pursuant to 15 U.S.C. § 7241, as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

31.2

Certification of Chief Financial Officer Pursuant to 15 U.S.C. § 7241, as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

32.1

Certification of Chief Executive Officer Pursuant to 18 U.S.C. § 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

32.2

Certification of Chief Financial Officer Pursuant to 18 U.S.C. § 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

101

The following unaudited financial information from our Quarterly Report on Form 10-Q for the quarter ended March 31, 2012, formatted in XBRL (eXtensible Business Reporting Language): (1) Consolidated Condensed Balance Sheets as of March 31, 2012 and June 30, 2011; (2) Consolidated Condensed Statements of Operations for the three and nine months ended March 31, 2012 and 2011; (3) Consolidated Condensed Statements of Cash Flows for the nine months ended March 31, 2012 and 2011; and (4) Notes to Condensed Consolidated Financial Statements.*

______________________________________

* Pursuant to Rule 406T of Regulation S-T, the information in Exhibit 101 (a) is “furnished” and is not deemed to be “filed” or part of a registration statement or prospectus for purposes of Section 11 or 12 of the Securities Act of 1933, as amended, (b) is deemed not to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and (c) is not otherwise subject to liability under those sections.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

POINT.360


DATE: May 11, 2012	BY:	/s/ Alan R. Steel
		Alan R. Steel Executive Vice President, Finance and Administration (duly authorized officer and principal financial officer)

EX-31.1 2 v312104_ex31-1.htm EXHIBIT 31.1

Exhibit 31.1

CERTIFICATION PURSUANT TO

15 U.S.C. § 7241

AS ADOPTED PURSUANT TO

SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Haig S. Bagerdjian, certify that:

I have reviewed this report on Form 10-Q of Point.360;

Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a)

Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b)

Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c)

Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures as of the end of the period covered by this report based on such evaluation; and

(d)

Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent function):

(a)

All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b)

Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: May 11, 2012

/s/ Haig S. Bagerdjian

Haig S. Bagerdjian

Chairman of the Board of Directors,

President and Chief Executive Officer

EX-31.2 3 v312104_ex31-2.htm EXHIBIT 31.2

Exhibit 31.2

CERTIFICATION PURSUANT TO

15 U.S.C. § 7241

AS ADOPTED PURSUANT TO

SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Alan R. Steel, certify that:

I have reviewed this report on Form 10-Q of Point.360;

(a)

(b)

(c)

(d)

(a)

(b)

Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: May 11, 2012

/s/ Alan R. Steel

Alan R. Steel

Executive Vice President, Finance and Administration, and Chief Financial Officer

EX-32.1 4 v312104_ex32-1.htm EXHIBIT 32.1

Exhibit 32.1

CERTIFICATION PURSUANT TO

18 U.S.C. § 1350

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Report of Point.360 (the “Company”) on Form 10-Q for the period ended March 31, 2012, as filed with the Securities and Exchange Commission (the “Report”), I, Haig S. Bagerdjian, Chief Executive Officer of the Company, certify, pursuant to 18 U.S.C. § 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to my knowledge:

(1)

The Report fully complies with the requirements of Section 13 (a) or 15 (d) of the Securities Exchange Act of 1934; and

(2)

The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

/s/ Haig S. Bagerdjian

Haig S. Bagerdjian

Chief Executive Officer

May 11, 2012

EX-32.2 5 v312104_ex32-2.htm EXHIBIT 32.2

Exhibit 32.2

CERTIFICATION PURSUANT TO

18 U.S.C. § 1350

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Report of Point.360 (the “Company”) on Form 10-Q for the period ended March 31, 2012, as filed with the Securities and Exchange Commission (the “Report”), I, Alan R. Steel, Chief Financial Officer of the Company, certify, pursuant to 18 U.S.C. § 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to my knowledge:

(1)

The Report fully complies with the requirements of Section 13 (a) or 15 (d) of the Securities Exchange Act of 1934; and

(2)

The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

/s/ Alan R. Steel

Alan R. Steel

Chief Financial Officer

May 11, 2012

EX-101.INS 6 ptsx-20120331.xml XBRL INSTANCE DOCUMENT

256000

10513166

732000

314000

47000

195000

5201000

207000

-22498000

743000

7186000

27174000

21695000

346000

12399000

1654000

10513166

5000000

8387000

23000

70000

42000

10377000

320000

27174000

9574000

10513166

18055000

50000000

17600000

1343000

1444000

9255000

1520000

178000 1420000

249000

739000

399000

170000

236000

4618000

-22331000

216000

6347000

25395000

21695000

517000

11288000

10513166

5000000

7503000

23000

68000

355000

10125000

351000

25395000

9489000

10513166

17153000

50000000

15906000

1473000

1274000

9541000

1058000

178000 1554000

8115000

315000

-1497000

329000

-628000

62000

-93000

26600000

-576000

181000

-2391000

232000

-0.22

-1497000

611000

-2391000

352000

2752000

957000

-0.22

5000

-3103000

134000

-955000

1261000

315000

10182000

7000

10685611

925000

148000

-822000

684000

542000

-72000

-53000

1200000

10685611

1211000

157000

18485000

400000

147000 50000 Q3 PTSX POINT.360 false Smaller Reporting Company 2012 10-Q 2012-03-31 0001398797 --06-30

9312000

-2000

<div style="font: 10pt Times New Roman, Times, Serif"> NOTE 8- SHAREHOLDER’S EQUITY   The following table analyzes the components of shareholders’ equity from June 30, 2011 to March 31, 2012 (in thousands):     <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 95%; margin-left: 0.5in"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: bold; text-align: justify; padding-left: 0">  </td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">  </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"> Common Stock </td> <td style="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">  </td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">  </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"> Paid-in Capital </td> <td style="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">  </td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">  </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"> Accumulated (Deficit) </td> <td style="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">  </td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">  </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"> Shareholders’ Equity  </td> <td style="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">  </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 32%; font-size: 10pt; text-align: justify; padding-left: 0"> Balance, June 30, 2011</td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 14%; font-size: 10pt; text-align: right"> 21,695</td> <td style="width: 1%; font-size: 10pt; text-align: left">  </td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 14%; font-size: 10pt; text-align: right"> 10,125</td> <td style="width: 1%; font-size: 10pt; text-align: left">  </td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 14%; font-size: 10pt; text-align: right"> (22,331</td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 14%; font-size: 10pt; text-align: right"> 9,489</td> <td style="width: 1%; font-size: 10pt; text-align: left">  </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,255,204)"> <td style="font-size: 10pt; text-align: justify; padding-left: 0"> Stock-based compensation expense</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right">-</td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right">85</td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right">-</td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right">85</td> <td style="font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: justify; padding-bottom: 1pt; padding-left: 0"> Net income</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">  </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"> -</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">  </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">  </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"> -</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">  </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">  </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"> 109</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">  </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">  </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"> 109</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">  </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,255,204)"> <td style="font-size: 10pt; text-align: justify; padding-left: 0"> Balance, September 30, 2011</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right">21,695</td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right">10,210</td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right">(22,222</td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right">9,683</td> <td style="font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: justify; padding-left: 0">  </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,255,204)"> <td style="font-size: 10pt; text-align: justify; padding-left: 0"> Stock-based compensation expense</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right">-</td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right">102</td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right">-</td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right">102</td> <td style="font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: justify; padding-bottom: 1pt; padding-left: 0"> Net income</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">  </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"> -</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">  </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">  </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"> -</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">  </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">  </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"> 51</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">  </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">  </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"> 51</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">  </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,255,204)"> <td style="font-size: 10pt; text-align: justify; padding-left: 0"> Balance, December 31, 2011</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left">$</td> <td style="font-size: 10pt; text-align: right">21,695</td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left">$</td> <td style="font-size: 10pt; text-align: right">10,312</td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left">$</td> <td style="font-size: 10pt; text-align: right">(22,171</td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left">$</td> <td style="font-size: 10pt; text-align: right">9,836</td> <td style="font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: justify; padding-left: 0">  </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,255,204)"> <td style="font-size: 10pt; text-align: justify; padding-left: 0"> Stock-based compensation expense</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right">-</td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right">65</td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right">-</td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right">65</td> <td style="font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: justify; padding-bottom: 1pt; padding-left: 0"> Net loss</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">  </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"> -</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">  </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">  </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"> -</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">  </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">  </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"> (327</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"> )</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">  </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"> (327</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"> )</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,255,204)"> <td style="font-size: 10pt; text-align: justify; padding-left: 0"> Balance, March 31, 2012</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left">$</td> <td style="font-size: 10pt; text-align: right">21,695</td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left">$</td> <td style="font-size: 10pt; text-align: right">10,377</td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left">$</td> <td style="font-size: 10pt; text-align: right">(22,498</td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left">$</td> <td style="font-size: 10pt; text-align: right">9,574</td> <td style="font-size: 10pt; text-align: left"> </td> </tr> </table> </div>

-3175000

20000

808000

26008000

<div style="font: 10pt Times New Roman, Times, Serif"> NOTE 4- COMMITMENTS AND CONTINGENCIES   On October 6, 2009, DG FastChannel, Inc. (“DGFC”) filed a claim in the United States District Court Central District of California, alleging that the Company violated certain provisions of agreements governing transactions related to the August 13, 2007 sale of the Company’s advertising distribution business to DGFC. DGFC alleged that (i) the Company did not fulfill its obligation to restrict a former employee from competing against DGFC subsequent to the transaction and, therefore, DGFC did not owe the Company $412,500 related to that portion of the transaction; (ii) the Company violated the noncompetition agreement between DGFC and the Company by distributing advertising content after the transaction; (iii) due to the violation of the noncompetition agreement, the post production services agreement that required DGFC to continue to vault its customers’ physical elements at the Company’s Media Center became null and void; and (iv) the Company must return all of DGFC’s vaulted material to DGFC. DGFC also sought unspecified monetary damages.   In September 2010, a settlement between the parties included the following: (1) The Company will be subject to a permanent injunction (until August 13, 2012) from competing in the commercial spot advertising business (as defined), (2) the Company will deliver to DGFC vaulted elements which will result in an annual reduction of vaulting revenues of approximately $0.9 million, (3) the Company will not be entitled to $412,500 (relating to the working capital reconciliation), (4) the Company will issue 250,000 shares of common stock to DGFC and (5) the parties will enter into full mutual releases and will dismiss their respective claims with prejudice. DGFC also received the right to sell the shares to the Company’s Chief Executive Officer for $500,000 on the six-month anniversary date of the agreement.   In connection with the settlement, the Company indemnified its Chief Executive Officer against possible losses should DGFC exercise its right to put the stock to the Chief Executive Officer, and there is a negative difference between the stated $500,000 value of the stock ($2.00 per share) and the market value on the date of the put. Alternatively, the Chief Executive Officer had the right to sell the 250,000 shares to the Company for $500,000. In April 2011, the Chief Executive Officer purchased from DGFC the put shares for $500,000, and the Company purchased from the Chief Executive Officer the 250,000 shares for $500,000 and immediately canceled the shares. In the fiscal year ended June 30, 2011, the put option expense was $152,000.   In November 2010, DGFC filed an ex parte application for enforcement of the settlement agreement and related stipulated injunction alleging that the Company violated the terms thereof and seeking an order enforcing the settlement agreement, an order to assess civil contempt charges and other remedies, and an order referring criminal allegations against the Company to the U.S. Attorney’s Office. In September 2011, the Court denied the ex parte application.   From time to time, the Company may become a party to other legal actions and complaints arising in the ordinary course of business, although it is not currently involved in any such material legal proceedings except as described above. </div>

<div style="font: 10pt Times New Roman, Times, Serif"> NOTE 10- SEGMENT INFORMATION:   In its operation of the business, management reviews certain financial information, including segmented internal profit and loss statements prepared on a basis consistent with U.S. generally accepted accounting principles. Our two segments are Point.360 and Movie>Q. The two segments discussed in this analysis are presented in the way we internally managed and monitored performance for the three and nine month periods ended March 31, 2012 and 2011. Allocations for internal resources were made for the three and nine month periods ended March 31, 2012 and 2011. The Movie>Q segment tracks certain assets separately, and all others are recorded in the Point.360 segment for internal reporting presentations. Cash was not segregated between the two segments but retained in the Point.360 segment.   The types of services provided by each segment are summarized below:   Point.360 – The Point.360 segment provides high definition and standard definition digital mastering, data conversion, video and film asset management and sophisticated computer graphics services to owners, producers and distributors of entertainment and advertising content. Point.360 provides the services necessary to edit, master, reformat, convert, archive and ultimately distribute its clients’ film and video content, including television programming feature films and movie trailers. The segment’s interconnected facilities provide service coverage to all major U.S. media centers. Clients include major motion picture studios and independent producers.   Movie>Q – The Movie>Q segment rents and sells DVDs and video games directly to consumers though its retail stores. The stores employ an automated inventory management (“AIM”) system in a 1,200-1,600 square foot facility. By saving space and personnel costs which caused the big box stores to be uncompetitive with lower priced online and vending machine rental alternatives, Movie>Q can offer up to 10,000 unit selections to a customer at competitive rental rates. Movie>Q provides online reservations, an in-store destination experience, first run movie and game titles and a large unit selection.     Segment revenues, operating loss and total assets were as follows (in thousands):   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-left: 0; border-bottom: Black 1pt solid">       Revenue </td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">  </td> <td colspan="6" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"> Three Months Ended March 31,</td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">  </td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">  </td> <td colspan="6" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"> Nine Months Ended March 31,</td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">  </td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: left; padding-left: 0">  </td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">  </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"> 2012</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">  </td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">  </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"> 2011</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">  </td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">  </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"> 2012</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">  </td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">  </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"> 2011</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">  </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 32%; font-size: 10pt; text-align: justify; padding-left: 0"> Point.360</td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 14%; font-size: 10pt; text-align: right"> 8,358</td> <td style="width: 1%; font-size: 10pt; text-align: left">  </td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 14%; font-size: 10pt; text-align: right"> 9,110</td> <td style="width: 1%; font-size: 10pt; text-align: left">  </td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 14%; font-size: 10pt; text-align: right"> 25,586</td> <td style="width: 1%; font-size: 10pt; text-align: left">  </td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 14%; font-size: 10pt; text-align: right"> 26,179</td> <td style="width: 1%; font-size: 10pt; text-align: left">  </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,255,204)"> <td style="font-size: 10pt; text-align: justify; padding-bottom: 1pt; padding-left: 0"> Movie>Q</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">  </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"> 139</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">  </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">  </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"> 148</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">  </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">  </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"> 422</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">  </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">  </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"> 421</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">  </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: justify; padding-bottom: 2.5pt; padding-left: 0"> Consolidated revenue</td> <td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"> $</td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"> 8,497</td> <td style="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">  </td> <td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"> $</td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"> 9,258</td> <td style="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">  </td> <td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"> $</td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"> 26,008</td> <td style="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">  </td> <td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"> $</td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"> 26,600</td> <td style="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">  </td> </tr> </table>   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-left: 0; border-bottom: Black 1pt solid">       Operating income (loss) </td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">  </td> <td colspan="6" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"> Three Months Ended March 31,</td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">  </td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">  </td> <td colspan="6" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"> Nine Months Ended March 31,</td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">  </td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: left; padding-left: 0">  </td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">  </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"> 2012</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">  </td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">  </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"> 2011</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">  </td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">  </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"> 2012</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">  </td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">  </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"> 2011</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">  </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 32%; font-size: 10pt; text-align: justify; padding-left: 0"> Point.360</td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 14%; font-size: 10pt; text-align: right">(39</td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 14%; font-size: 10pt; text-align: right">187</td> <td style="width: 1%; font-size: 10pt; text-align: left">  </td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 14%; font-size: 10pt; text-align: right">606</td> <td style="width: 1%; font-size: 10pt; text-align: left">  </td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 14%; font-size: 10pt; text-align: right"> (1,501</td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,255,204)"> <td style="font-size: 10pt; text-align: justify; padding-bottom: 1pt; padding-left: 0"> Movie>Q (1)</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">  </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"> (166</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"> )</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">  </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"> (842</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"> )</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">  </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"> (503</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"> )</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">  </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"> (1,602</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"> )</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: justify; padding-bottom: 2.5pt; padding-left: 0"> Operating income (loss)</td> <td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"> $</td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"> (205</td> <td style="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"> $</td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"> (655</td> <td style="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"> $</td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"> 103</td> <td style="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">  </td> <td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"> $</td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"> (3,103</td> <td style="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">)</td> </tr> </table>   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 50%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: left; padding-left: 0; border-bottom: Black 1pt solid"> Total Assets </td> <td style="font-size: 10pt; font-weight: bold"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center">  March 31,</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center">June 30, </td> <td style="font-size: 10pt; font-weight: bold"> </td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: left; padding-left: 0">  </td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">  </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"> 2012</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">  </td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">  </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"> 2011</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">  </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 52%; font-size: 10pt; text-align: justify; padding-left: 0"> Point.360</td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 21%; font-size: 10pt; text-align: right"> 25,603</td> <td style="width: 1%; font-size: 10pt; text-align: left">  </td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 21%; font-size: 10pt; text-align: right"> 23,608</td> <td style="width: 1%; font-size: 10pt; text-align: left">  </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,255,204)"> <td style="font-size: 10pt; text-align: justify; padding-bottom: 1pt; padding-left: 0"> Movie>Q</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">  </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"> 1,571</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">  </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">  </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"> 1,787</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">  </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: justify; padding-bottom: 2.5pt; padding-left: 0"> Consolidated assets</td> <td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"> $</td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"> 27,174</td> <td style="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">  </td> <td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"> $</td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"> 25,395</td> <td style="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">  </td> </tr> </table>   (1) Includes R&D expenses related to the Movie>Q project </div>

<div style="font: 10pt Times New Roman, Times, Serif"> NOTE 2 - LONG TERM DEBT AND NOTES PAYABLE   In January 2011, the Company entered into a credit agreement which provides $1 million of credit based on 85% of acceptable accounts receivable, as defined. The loan and security agreement provided for interest at prime rate plus 2% with an interest floor of 5.25%. In addition, the Company paid a monthly “maintenance” fee of 0.6% of the outstanding daily loan balance (an equivalent annual fee of 7.2%), and an annual commitment fee of 1% of the amount of the credit facility. Amounts outstanding under the agreement are secured by all of the Company’s assets other than real estate and are payable on demand. In March 2011, the credit limit was increased to $3 million based on 80% of acceptable accounts receivable, as defined. In November 2011, the credit limit remained at $3 million, however the borrowing base was reduced to 80% of acceptable accounts receivable less $300,000, the interest rate was reduced to prime plus 0.5% (currently 3.75%) with an interest floor of 3.75%, and the monthly maintenance fee was reduced to 0.4% (an equivalent annual fee of 4.8%). As of March 31, 2012, the Company owed $1.3 million under the credit agreement.   In July 2008, the Company entered into a Promissory Note with a bank (the “note”) in order to purchase land and a building that had been occupied by the Company since 1998 (the total purchase price was approximately $8.1 million). Pursuant to the note, the company borrowed $6,000,000 which was payable in monthly installments of principal and interest on a fully amortized base over 30 years at an initial five-year interest rate of 7.1% and thereafter at a variable rate equal to LIBOR plus 3.6% (6.4% as of the purchase date). The mortgage debt is secured by the land and building.   In June 2009, the Company entered into a $3,562,500 Purchase Money Promissory Note secured by a Deed of Trust for the purchase of land and a building. The note bears interest at 7% fixed for ten years. The principal amount of the note is payable on June 12, 2019. The note is secured by the property.   In November 2010, the Company converted approximately $1 million of accounts payable into a note secured by a lien of all the Company’s assets, which security interest was subordinated to that of the $3 million credit agreement and other term and mortgage debt. The note was due in 48 monthly installments of $20,000 plus interest at 3% per annum and could be prepaid at any time. The total amount due under the note was subject to a 12.5% or 6% discount if totally paid within 12 months or 18 months, respectively. In April 2011, the Company received $1 million in settlement of a claim, and prepaid $333,000 of the above $1 million note. The remaining amount due under the note was paid in October 2011, at a 12.5% discount. </div>

3443000

-7000

-167000

252000

-0.02

2000

637000

-167000

-1964000

2260000

3175000

-0.02

4000

103000

134000

171000

<div style="FONT: 10pt Times New Roman, Times, Serif"> Note 1 – THE COMPANY   The Company provides high definition and standard definition digital mastering, data conversion, video and film asset management and sophisticated computer graphics services to owners, producers and distributors of entertainment and advertising content. The Company provides the services necessary to edit, master, reformat, convert, archive and ultimately distribute its clients’ film and video content, including television programming feature films and movie trailers. The Company’s interconnected facilities provide service coverage to all major U.S. media centers. Clients include major motion picture studios and independent producers. The Company also rents and sells DVDs and video games directly to consumers through its Movie>Q retail stores.   The Company operates in two business segments from four post production and three Movie>Q locations. Each post production location is electronically tied to the others and serves the same customer base. Depending on the location size, the production equipment consists of tape duplication, feature movie and commercial ad editing, encoding, standards conversion, and other machinery. Each location employs personnel with the skills required to efficiently run the equipment and handle customer requirements. While all locations are not exactly the same, an order received at one location may be fulfilled at one or more “sister” facilities to use resources in the most efficient manner.   Typically, a feature film or television show or related material will be submitted to a facility by a motion picture studio, independent producer, advertising agency, or corporation for processing and distribution. A common sales force markets the Company’s capability for all facilities. Once an order is received, the local customer service representative determines the most cost-effective way to perform the services considering geographical logistics and facility capabilities.   In fiscal 2010, the Company purchased assets and intellectual property for a research and development project to address the viability of the DVD and video game rental business being abandoned by the closure of Movie Gallery/Hollywood Video and Blockbuster stores. The DVD rental market consists principally of online services (Netflix), vending machines (Redbox) and other video stores.   As of March 31, 2012, the Company had opened three Movie>Q “proof-of-concept” stores in Southern California. The stores employ an automated inventory management (“AIM”) system in a 1,200-1,600 square foot facility. By saving space and personnel costs which caused the big box stores to be uncompetitive with lower priced online and vending machine rental alternatives, Movie>Q can offer up to 10,000 unit selections to a customer at competitive rental rates. Movie>Q provides online reservations, an in-store destination experience, first run movie and game titles and a large unit selection (as opposed to 400-700 for a Redbox vending machine).   Based on the success of the proof-of-concept, the Company may seek to rapidly expand the number of Movie>Q stores while further streamlining the design and production of the AIM system. Movie>Q provides the Company with a content distribution capability complimentary to the Company’s post production business.   The accompanying unaudited Condensed Consolidated Financial Statements include the accounts and transactions of the Company, including those of the Company’s subsidiaries. The statements have been prepared in accordance with accounting principles generally accepted in the United States of America and by the Securities and Exchange Commission’s rules and regulations for reporting interim financial statements and footnotes. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. All intercompany balances and transactions have been eliminated in the Condensed Consolidated Financial Statements. Operating results for the three and nine month periods ended March 31, 2012 are not necessarily indicative of the results that may be expected for the fiscal year ending June 30, 2012. These financial statements should be read in conjunction with the financial statements and related notes contained in the Company’s Form 10-K for the period ended June 30, 2011.     Pro Forma Earnings (Loss) Per Share   A reconciliation of the denominator of the basic EPS computation to the denominator of the diluted EPS computation is as follows (in thousands):   <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: justify; FONT-SIZE: 8pt"> </td> <td style="FONT: bold 8pt Times New Roman, Times, Serif">  </td> <td style="TEXT-ALIGN: center; FONT: bold 8pt Times New Roman, Times, Serif" colspan="2">Three Months Ended March 31,</td> <td style="FONT: bold 8pt Times New Roman, Times, Serif">  </td> <td style="FONT: bold 8pt Times New Roman, Times, Serif">  </td> <td style="TEXT-ALIGN: center; FONT: bold 8pt Times New Roman, Times, Serif" colspan="2">Three Months Ended March 31,</td> <td style="FONT: bold 8pt Times New Roman, Times, Serif">  </td> <td style="FONT: bold 8pt Times New Roman, Times, Serif">  </td> <td style="TEXT-ALIGN: center; FONT: bold 8pt Times New Roman, Times, Serif" colspan="2">Nine Months Ended March 31,</td> <td style="FONT: bold 8pt Times New Roman, Times, Serif">  </td> <td style="FONT: bold 8pt Times New Roman, Times, Serif">  </td> <td style="TEXT-ALIGN: center; FONT: bold 8pt Times New Roman, Times, Serif" colspan="2">Nine Months Ended March 31,</td> <td style="FONT: bold 8pt Times New Roman, Times, Serif">  </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: justify; FONT-SIZE: 8pt"> </td> <td style="PADDING-BOTTOM: 1pt; FONT-SIZE: 8pt; FONT-WEIGHT: bold">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-SIZE: 8pt; FONT-WEIGHT: bold" colspan="2">2012</td> <td style="PADDING-BOTTOM: 1pt; FONT-SIZE: 8pt; FONT-WEIGHT: bold">  </td> <td style="PADDING-BOTTOM: 1pt; FONT-SIZE: 8pt; FONT-WEIGHT: bold">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-SIZE: 8pt; FONT-WEIGHT: bold" colspan="2">2011</td> <td style="PADDING-BOTTOM: 1pt; FONT-SIZE: 8pt; FONT-WEIGHT: bold">  </td> <td style="PADDING-BOTTOM: 1pt; FONT-SIZE: 8pt; FONT-WEIGHT: bold">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-SIZE: 8pt; FONT-WEIGHT: bold" colspan="2">2012</td> <td style="PADDING-BOTTOM: 1pt; FONT-SIZE: 8pt; FONT-WEIGHT: bold">  </td> <td style="PADDING-BOTTOM: 1pt; FONT-SIZE: 8pt; FONT-WEIGHT: bold">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-SIZE: 8pt; FONT-WEIGHT: bold" colspan="2">2011</td> <td style="PADDING-BOTTOM: 1pt; FONT-SIZE: 8pt; FONT-WEIGHT: bold">  </td> </tr> <tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: justify; FONT: 8pt Times New Roman, Times, Serif">Pro forma weighted average of number of shares</td> <td style="FONT: 10pt Times New Roman, Times, Serif"> </td> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif">  </td> <td style="TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif">     </td> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif">  </td> <td style="FONT-SIZE: 8pt"> </td> <td style="TEXT-ALIGN: left; FONT-SIZE: 8pt"> </td> <td style="TEXT-ALIGN: right; FONT-SIZE: 8pt"> </td> <td style="TEXT-ALIGN: left; FONT-SIZE: 8pt"> </td> <td style="FONT-SIZE: 8pt"> </td> <td style="TEXT-ALIGN: left; FONT-SIZE: 8pt"> </td> <td style="TEXT-ALIGN: right; FONT-SIZE: 8pt"> </td> <td style="TEXT-ALIGN: left; FONT-SIZE: 8pt"> </td> <td style="FONT: 10pt Times New Roman, Times, Serif"> </td> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif">  </td> <td style="TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif">     </td> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif">  </td> </tr> <tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: justify; TEXT-INDENT: -0.12in; PADDING-LEFT: 0.12in; WIDTH: 40%; FONT: 8pt Times New Roman, Times, Serif"> Weighted average number of common shares outstanding used in computation of basic EPS</td> <td style="WIDTH: 1%; FONT-SIZE: 8pt"> </td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 8pt"> </td> <td style="TEXT-ALIGN: right; WIDTH: 12%; FONT-SIZE: 8pt"> 10,513</td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 8pt"> </td> <td style="WIDTH: 1%; FONT: 8pt Times New Roman, Times, Serif">  </td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT: 8pt Times New Roman, Times, Serif">  </td> <td style="TEXT-ALIGN: right; WIDTH: 12%; FONT: 8pt Times New Roman, Times, Serif"> 10,763</td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT: 8pt Times New Roman, Times, Serif">  </td> <td style="WIDTH: 1%; FONT: 8pt Times New Roman, Times, Serif">  </td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT: 8pt Times New Roman, Times, Serif">  </td> <td style="TEXT-ALIGN: right; WIDTH: 12%; FONT: 8pt Times New Roman, Times, Serif"> 10,513</td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT: 8pt Times New Roman, Times, Serif">  </td> <td style="WIDTH: 1%; FONT-SIZE: 8pt"> </td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 8pt"> </td> <td style="TEXT-ALIGN: right; WIDTH: 12%; FONT-SIZE: 8pt"> 10,686</td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 8pt"> </td> </tr> <tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: justify; PADDING-BOTTOM: 1pt; FONT-SIZE: 8pt">Dilutive effect of outstanding stock options</td> <td style="PADDING-BOTTOM: 1pt; FONT-SIZE: 8pt"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-SIZE: 8pt">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-SIZE: 8pt"> -</td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; FONT-SIZE: 8pt">  </td> <td style="PADDING-BOTTOM: 1pt; FONT-SIZE: 8pt"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-SIZE: 8pt">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-SIZE: 8pt"> -</td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; FONT-SIZE: 8pt">  </td> <td style="PADDING-BOTTOM: 1pt; FONT-SIZE: 8pt"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-SIZE: 8pt">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-SIZE: 8pt"> -</td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; FONT-SIZE: 8pt">  </td> <td style="PADDING-BOTTOM: 1pt; FONT-SIZE: 8pt"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-SIZE: 8pt">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-SIZE: 8pt"> -</td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; FONT-SIZE: 8pt">  </td> </tr> <tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: justify; PADDING-BOTTOM: 1pt; TEXT-INDENT: -0.12in; PADDING-LEFT: 0.12in; FONT: 8pt Times New Roman, Times, Serif"> Weighted average number of common and potential Common shares outstanding used in computation of Diluted EPS</td> <td style="PADDING-BOTTOM: 1pt; FONT: 8pt Times New Roman, Times, Serif">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT: 8pt Times New Roman, Times, Serif">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT: 8pt Times New Roman, Times, Serif"> 10,513</td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; FONT: 8pt Times New Roman, Times, Serif">  </td> <td style="PADDING-BOTTOM: 1pt; FONT: 8pt Times New Roman, Times, Serif">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT: 8pt Times New Roman, Times, Serif">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT: 8pt Times New Roman, Times, Serif"> 10,763</td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; FONT: 8pt Times New Roman, Times, Serif">  </td> <td style="PADDING-BOTTOM: 1pt; FONT: 8pt Times New Roman, Times, Serif">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT: 8pt Times New Roman, Times, Serif">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT: 8pt Times New Roman, Times, Serif"> 10,513</td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; FONT: 8pt Times New Roman, Times, Serif">  </td> <td style="PADDING-BOTTOM: 1pt; FONT: 8pt Times New Roman, Times, Serif">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT: 8pt Times New Roman, Times, Serif">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT: 8pt Times New Roman, Times, Serif"> 10,686</td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; FONT: 8pt Times New Roman, Times, Serif">  </td> </tr> <tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: justify; PADDING-BOTTOM: 1pt; TEXT-INDENT: -0.12in; PADDING-LEFT: 0.12in; FONT: 8pt Times New Roman, Times, Serif"> Effect of dilutive options excluded in the computation of diluted EPS due to net loss</td> <td style="PADDING-BOTTOM: 1pt; FONT: 8pt Times New Roman, Times, Serif">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT: 8pt Times New Roman, Times, Serif">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT: 8pt Times New Roman, Times, Serif"> 113</td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; FONT: 8pt Times New Roman, Times, Serif">  </td> <td style="PADDING-BOTTOM: 1pt; FONT: 8pt Times New Roman, Times, Serif">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT: 8pt Times New Roman, Times, Serif">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT: 8pt Times New Roman, Times, Serif"> -</td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; FONT: 8pt Times New Roman, Times, Serif">  </td> <td style="PADDING-BOTTOM: 1pt; FONT: 8pt Times New Roman, Times, Serif">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT: 8pt Times New Roman, Times, Serif">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT: 8pt Times New Roman, Times, Serif"> 63</td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; FONT: 8pt Times New Roman, Times, Serif">  </td> <td style="PADDING-BOTTOM: 1pt; FONT: 8pt Times New Roman, Times, Serif">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT: 8pt Times New Roman, Times, Serif">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT: 8pt Times New Roman, Times, Serif"> 32</td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; FONT: 8pt Times New Roman, Times, Serif">  </td> </tr> </table>   The weighted average number of common shares outstanding was the same amount for both basic and diluted income or loss per share in the three and nine month periods ended March 31, 2011. The effect of potentially dilutive securities for the nine month period ended March 31, 2011 were excluded from the computation of diluted earnings per share because the Company reported a net loss, and the effect of inclusion would be anti-dilutive (i.e., including such securities would result in a lower loss per share). Options to purchase 2,496,225 shares were outstanding at March 31, 2012. Diluted weighted average shares outstanding exclude outstanding stock options whose exercise price is in excess of the average price of the Company’s stock price. These options are excluded from the respective computations of diluted net income or loss per share because their effect would be anti-dilutive. The number of potentially dilutive shares at March 31, 2012 and 2011, was 1,540,094 and 651,675, respectively.   Fair Value Measurements   The Company follows a framework for consistently measuring fair value under generally accepted accounting principles, and the disclosures of fair value measurements. The framework provides a fair value hierarchy to classify the source of the information.       The fair value hierarchy is based on three levels of inputs, of which the first two are considered observable and the last unobservable, that may be used to measure fair value and include the following:   Level 1 – Quoted prices in active markets for identical assets or liabilities.   Level 2 – Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.    Level 3 – Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.   Cash, the only Level 1 input applicable to the Company (there are no Level 2 or 3 inputs), is stated on the Condensed Consolidated Balance Sheets at fair value.   As of March 31, 2012 and June 30, 2011, the carrying value of cash and cash equivalents, accounts receivable, accounts payable, accrued expenses and interest payable approximates fair value due to the short-term nature of such instruments. The carrying value of other long-term liabilities approximates fair value as the related interest rates approximate rates currently available to the Company.   Recent Accounting Pronouncements   In September 2011, the FASB issued Accounting Standards Update No. 2011-08, “Testing Goodwill for Impairment” (ASU No. 2011-08), which is intended to simplify goodwill impairment testing. Entities will be allowed to perform a qualitative assessment on goodwill impairment to determine whether a quantitative assessment is necessary. The revised standard is effective for annual and interim goodwill impairment tests performed for fiscal years beginning after December 15, 2011. The adoption of ASC No. 2011-08 will not impact our financial position, results of operations, cash flows, or presentation thereof.     In May 2011, the FASB issued ASU No. 2011-04, “Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRSs” ("ASU No. 2011-04"), which amends ASC Topic 820, “Fair Value Measurement”. ASU No. 2011-04 does not extend the use of fair value accounting, but provides guidance on how it should be applied where its use is already required or permitted by other standards within U.S. GAAP or International Financial Reporting Standards (“IFRSs”). ASU No. 2011-14 changes the wording used to describe many requirements in U.S. GAAP for measuring fair value and for disclosing information about fair value measurements. Additionally, ASU No. 2011-14 clarifies the FASB's intent about the application of existing fair value measurements. ASU No. 2011-04 is effective for interim and annual periods beginning after December 15, 2011, and is applied prospectively. We adopted this guidance at the beginning of our third quarter of fiscal year 2012. The adoption of ASU No. 2011-04 did not have a material impact on our financial position, results of operations or cash flows. </div>

347000

<div style="font: 10pt Times New Roman, Times, Serif"> NOTE 3- PROPERTY AND EQUIPMENT   In March 2006, the Company entered into a sale and leaseback transaction with respect to its Media Center vaulting real estate. The real estate was sold for approximately $14.0 million resulting in a $1.3 million after tax gain. Additionally, the Company received $0.5 million from the purchaser for improvements. In accordance with the Accounting Standards Codification (ASC) 840-40, the gain will be amortized over the initial 15-year lease term as reduced rent. Net proceeds at the closing of the sale and improvement advance (approximately $13.8 million) were used to pay off the mortgage and other outstanding debt. A $250,000 security deposit related to the lease has been recorded as a deposit in “other assets, net” in the Condensed Consolidated Balance Sheets as of March 31, 2012 and June 30, 2011.   The lease is treated as an operating lease for financial reporting purposes. After the initial lease term, the Company has four five-year options to extend the lease. Minimum annual rent payments for the initial five years of the lease are $1,111,000, increasing annually thereafter based on the Consumer Price Index change from year to year.   In June 2011, the Company entered into a lease amendment with respect to the Company’s Media Center facility. The amendment provides that the landlord would reimburse the Company up to $2 million for the leasehold improvements to be made by the Company to the premises. The leasehold improvements would be recorded as a fixed asset and amortized over the remaining term of the lease (until March 2021). Pursuant to the lease amendment, the Company’s monthly lease costs increased by approximately $14,000 on July 1, 2011, and by an additional $13,000 to approximately $27,000 on April 1, 2012. As of March 31, 2012, the Company had incurred $2.0 million of costs for construction, of which $1.7 million had been reimbursed by the landlord. The balance due from the landlord of $309,000 as of March 31, 2012 has been recorded in prepaid expenses and other current assets on the balance sheet, and a deferred lease incentive has been recorded for the total amount reimbursed by the landlord in accordance with ASC 840-20. The lease incentive is being amortized over the remaining lease term as an offset to rent.     The Company vacated one of its Burbank facilities on the February 28, 2012 expiration of the related lease and moved to the Media Center space, which will reduce monthly operating expenses by approximately $100,000. Total annual savings beginning in March 2012 are expected to be approximately $1.2 million.   Property and equipment consist of the following as of March 31, 2012: <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 50%; font: 10pt Times New Roman, Times, Serif; margin-left: 1.5in"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; padding-left: 0"> </td> <td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,255,204)"> <td style="width: 70%; font-size: 10pt; text-indent: 0.9pt; padding-left: 0"> Land</td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 27%; font-size: 10pt; text-align: right"> 3,985,000</td> <td style="width: 1%; font-size: 10pt; text-align: left">  </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-indent: 0.9pt; padding-left: 0"> Buildings</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right">9,268,000</td> <td style="font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,255,204)"> <td style="font-size: 10pt; text-align: left; text-indent: 0.9pt; padding-left: 0"> Machinery and equipment</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right">37,467,000</td> <td style="font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; text-indent: 0.9pt; padding-left: 0"> Leasehold improvements</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right">6,921,000</td> <td style="font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,255,204)"> <td style="font-size: 10pt; text-align: left; text-indent: 0.9pt; padding-left: 0"> Computer equipment</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right">7,742,000</td> <td style="font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; text-indent: 0.9pt; padding-left: 0"> Equipment under capital lease</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right">856,000</td> <td style="font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,255,204)"> <td style="font-size: 10pt; text-align: left; text-indent: 0.9pt; padding-left: 0"> Office equipment, CIP</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right">2,743,000</td> <td style="font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; padding-left: 0.12in; text-indent: -0.12in"> Less accumulated depreciation and amortization</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">  </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"> (50,927,000</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"> )</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,255,204)"> <td style="font-size: 10pt; text-align: justify; padding-bottom: 2.5pt; padding-left: 0">       Property and equipment, net</td> <td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"> $</td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"> 18,055,000</td> <td style="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">  </td> </tr> </table> </div>

9209000

-313000

10513166

527000

103000

-84000

<div style="font: 10pt Times New Roman, Times, Serif"> NOTE 5- INCOME TAXES   The Company reviewed its ASC 740-10 documentation for the periods through March 31, 2012 to ascertain if any changes should be made with respect to tax positions previously taken. In addition, the Company reviewed its income tax reporting through March 31, 2012. Based on Company’s review of its tax positions as of March 31, 2012, no new uncertain tax positions have resulted; nor has new information become available that would change management’s judgment with respect to tax positions previously taken.     As of March 31, 2012, the Company's net deferred tax assets were nil.  No tax benefit was recorded during the three and nine month periods ended March 31, 2012 because future realizability of such benefit was not considered to be more likely than not.  At March 31, 2012, the Company had a gross deferred tax asset of $9.3 million, and a corresponding valuation allowance of $9.3 million. At June 30, 2011, the Company had a gross deferred tax asset of $9.1 million, and a corresponding valuation allowance of $9.1 million.   The ASC prescribes a recognition and measurement of a tax position taken or expected to be taken in a tax return and provides guidance on derecognition of tax benefits, classification on the balance sheet, interest and penalties, accounting in interim periods, disclosure, and transition.   The Company files income tax returns in the U.S. federal jurisdiction, and various state jurisdictions. With few exceptions, the Company is no longer subject to U.S. federal state or local income tax examinations by tax authorities for years before 2002. The Company has analyzed its filing positions in all of the federal and state jurisdictions where it is required to file income tax returns. The Company was last audited by New York taxing authorities for the years 2002 through 2004 resulting in no change. The Company was previously notified by the U.S Internal Revenue Service of its intent to audit the calendar 2005 tax return. The audit has since been cancelled by the IRS without change; however, the audit could be reopened at the IRS’ discretion.   The Company was notified by the IRS in September 2009 of its intent to audit federal tax returns for calendar year 2006 and the period from January 1 to August 13, 2007.   During fiscal 2010, the Company received a federal tax refund of approximately $0.4 million related to refunds due for tax year 2005. In July 2010, the Company received a refund of $1.5 million related to tax year 2006.   The Company was notified by the Franchise Tax Board in April 2011 of its intent to audit California tax returns for the fiscal years ended June 30, 2008 and 2009. The audit was performed and concluded with no change. </div>

594000

-172000

<div style="font: 10pt Times New Roman, Times, Serif"> NOTE 6- STOCK OPTION PLAN, STOCK-BASED COMPENSATION   In May 2007, the Board of Directors approved the 2007 Equity Incentive Plan (the “2007 Plan”). The 2007 Plan provides for the award of options to purchase up to 2,000,000 shares of common stock, appreciation rights and restricted stock awards.   Under the 2007 Plan, the stock option price per share for options granted is determined by the Board of Directors and is based on the market price of the Company’s common stock on the date of grant, and each option is exercisable within the period and in the increments as determined by the Board, except that no option can be exercised later than ten years from the grant date. The stock options generally vest in one to five years.   In November 2010, the shareholders approved the 2010 Incentive Plan (the “2010 Plan”). The 2010 Plan provides for the award of options to purchase up to 4,000,000 shares of common stock, appreciation rights and restricted stock and performance awards.   Under the 2010 Plan, the stock option price per share for options granted is determined by the Board of Directors and is based on the market price of the Company’s common stock on the date of grant, and each option is exercisable within the period and in the increments as determined by the Board, except that no option can be exercised later than ten years from the grant date. The stock options generally vest in one to five years.   The Company measures and recognizes compensation expense for all share-based payment awards made to employees and directors based on estimated fair values. We also estimate the fair value of the award that is ultimately expected to vest to be recognized as expense over the requisite service periods in our Condensed Consolidated Statements of Operations.   We estimate the fair value of share-based payment awards to employees and directors on the date of grant using an option-pricing model. The value of the portion of the award that is ultimately expected to vest is recognized as expense over the requisite service periods in the Company’s Condensed Consolidated Statements of Operations. Stock-based compensation expense recognized in the Condensed Consolidated Statements of Operations for the three and nine month periods ended March 31, 2012 included compensation expense for the share-based payment awards based on the grant date fair value. For stock-based awards issued to employees and directors, stock-based compensation is attributed to expense using the straight-line single option method. As stock-based compensation expense recognized in the Condensed Consolidated Statements of Operations for the periods reported in this Form 10-Q is based on awards expected to vest, forfeitures are also estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. For the periods being reported in this Form 10-Q, expected forfeitures are immaterial. The Company will re-assess the impact of forfeitures if actual forfeitures increase in future quarters. Stock-based compensation expense related to employee or director stock options recognized for the three and nine month periods ended March 31, 2012 and 2011 was as follows:      <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 50%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.25in"> <tr style="vertical-align: bottom; background-color: rgb(204,255,204)"> <td style="width: 60%; font-size: 10pt; font-weight: normal; text-align: justify"> Three months ended March 31, 2012</td> <td style="width: 10%; font-size: 10pt; font-weight: normal">  </td> <td style="width: 1%; font-size: 10pt; font-weight: normal; text-align: left"> $</td> <td style="width: 28%; font-size: 10pt; font-weight: normal; text-align: right"> 65,000</td> <td style="width: 1%; font-size: 10pt; font-weight: normal; text-align: left">  </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: normal; text-align: justify">Three months ended March 31, 2011</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: left">  </td> <td style="font-size: 10pt; font-weight: normal; text-align: right"> 76,000</td> <td style="font-size: 10pt; font-weight: normal; text-align: left">  </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,255,204)"> <td style="font-size: 10pt; font-weight: normal; text-align: justify">Nine months ended March 31, 2012</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: left">  </td> <td style="font-size: 10pt; font-weight: normal; text-align: right"> 252,000</td> <td style="font-size: 10pt; font-weight: normal; text-align: left">  </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: normal; text-align: justify">Nine months ended March 31, 2011</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: left">  </td> <td style="font-size: 10pt; font-weight: normal; text-align: right"> 232,000</td> <td style="font-size: 10pt; font-weight: normal; text-align: left">  </td> </tr> </table>   The Company’s determination of fair value of share-based payment awards to employees and directors on the date of grant uses the Black-Scholes model, which is affected by the Company’s stock price as well as assumptions regarding a number of complex and subjective variables. These variables include, but are not limited to, the expected stock price volatility over the expected term of the awards, and actual and projected employee stock options exercise behaviors. The Company estimates expected volatility using historical data. The expected term is estimated using the “safe harbor” provisions provided by the SEC.   During each of the three and nine month periods ended March 31, 2012 and 2011, the Company granted awards of stock options as follows:   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.25in"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: normal; text-align: center">  </td> <td style="font-size: 10pt; font-weight: normal"> </td> <td colspan="4" style="font-size: 10pt; font-weight: normal; text-align: center">2007 Plan</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td> </td> <td colspan="3" style="font-size: 10pt; font-weight: normal; text-align: center">2010 Plan</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: normal; text-align: center">  </td> <td style="font-size: 10pt; font-weight: normal"> </td> <td colspan="2" style="font-size: 10pt; font-weight: normal; text-align: center"> Options</td> <td style="font-size: 10pt; font-weight: normal; text-align: center">  </td> <td style="font-size: 10pt; font-weight: normal; text-align: center"> Exercise</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td> </td> <td style="font-size: 10pt; font-weight: normal; text-align: center"> Options</td> <td style="font-size: 10pt; font-weight: normal; text-align: center">  </td> <td style="font-size: 10pt; font-weight: normal; text-align: center"> Exercise</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: normal; text-align: center">  </td> <td style="font-size: 10pt; font-weight: normal; padding-bottom: 1pt">  </td> <td colspan="2" style="font-size: 10pt; font-weight: normal; text-align: center; border-bottom: Black 1pt solid"> Granted</td> <td style="font-size: 10pt; font-weight: normal; padding-bottom: 1pt; text-align: center">  </td> <td style="font-size: 10pt; font-weight: normal; text-align: center; border-bottom: Black 1pt solid"> Price per Share</td> <td style="font-size: 10pt; font-weight: normal; padding-bottom: 1pt">  </td> <td> </td> <td style="font-size: 10pt; font-weight: normal; text-align: center; border-bottom: Black 1pt solid"> Granted</td> <td style="font-size: 10pt; font-weight: normal; padding-bottom: 1pt; text-align: center">  </td> <td style="font-size: 10pt; font-weight: normal; text-align: center; border-bottom: Black 1pt solid"> Price per Share</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,255,204)"> <td style="width: 34%; font-size: 10pt; font-weight: normal; text-align: justify"> Three months ended March 31, 2012</td> <td style="width: 1%; font-size: 10pt; font-weight: normal">  </td> <td style="width: 9%; font-size: 10pt; font-weight: normal; text-align: right"> -</td> <td style="width: 3%"> </td> <td style="width: 1%; font-size: 10pt; font-weight: normal; text-align: center">  </td> <td style="width: 13%; font-size: 10pt; font-weight: normal; text-align: center"> -</td> <td style="width: 1%; font-size: 10pt; font-weight: normal">  </td> <td style="width: 7%"> </td> <td style="width: 10%; font-size: 10pt; font-weight: normal; text-align: center"> 247,000</td> <td style="width: 1%; font-size: 10pt; font-weight: normal; text-align: center">  </td> <td style="width: 13%; font-size: 10pt; font-weight: normal; text-align: center"> $0.95</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: normal; text-align: justify">Three months ended March 31, 2011</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: right"> 329,800</td> <td> </td> <td style="font-size: 10pt; font-weight: normal; text-align: center">  </td> <td style="font-size: 10pt; font-weight: normal; text-align: center"> $0.86</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td> </td> <td style="font-size: 10pt; font-weight: normal; text-align: center"> 222,200</td> <td style="font-size: 10pt; font-weight: normal; text-align: center">  </td> <td style="font-size: 10pt; font-weight: normal; text-align: center"> $0.86</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,255,204)"> <td style="font-size: 10pt; font-weight: normal; text-align: justify">Nine months ended March 31, 2012</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: right"> 30,000</td> <td> </td> <td style="font-size: 10pt; font-weight: normal; text-align: center">  </td> <td style="font-size: 10pt; font-weight: normal; text-align: center"> $1.07</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td> </td> <td style="font-size: 10pt; font-weight: normal; text-align: center"> 247,000</td> <td style="font-size: 10pt; font-weight: normal; text-align: center">  </td> <td style="font-size: 10pt; font-weight: normal; text-align: center"> $0.95</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: normal; text-align: justify">Nine months ended March 31, 2011</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: right"> 374,800</td> <td> </td> <td style="font-size: 10pt; font-weight: normal; text-align: center">  </td> <td style="font-size: 10pt; font-weight: normal; text-align: center"> $0.89</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td> </td> <td style="font-size: 10pt; font-weight: normal; text-align: center"> 222,200</td> <td style="font-size: 10pt; font-weight: normal; text-align: center">  </td> <td style="font-size: 10pt; font-weight: normal; text-align: center"> $0.86</td> </tr> </table>   As of March 31, 2012, there were options outstanding to acquire 2,496,225 shares at an average exercise price of $1.32 per share.   The following table summarizes the status of the 2007 and 2010 Plans as of March 31, 2012:   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.25in"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: normal; text-align: justify">  </td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">  </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"> 2007 Plan</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">  </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"> 2010 Plan</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">  </td> <td style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"> Total</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,255,204)"> <td style="width: 24%; font-size: 10pt; font-weight: normal; text-align: justify; padding-bottom: 1pt; padding-left: 5.4pt"> Options originally available</td> <td style="width: 4%; font-size: 10pt; font-weight: normal; padding-bottom: 1pt">  </td> <td style="width: 16%; font-size: 10pt; font-weight: normal; text-align: right"> 2,000,000</td> <td style="width: 8%"> </td> <td style="width: 4%; font-size: 10pt; font-weight: normal; padding-bottom: 1pt">  </td> <td style="width: 16%; font-size: 10pt; font-weight: normal; text-align: right"> 4,000,000</td> <td style="width: 8%"> </td> <td style="width: 2%; font-size: 10pt; font-weight: normal; padding-bottom: 1pt">  </td> <td style="width: 18%; font-size: 10pt; font-weight: normal; text-align: center"> 6,000,000</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: normal; text-align: justify; padding-bottom: 1pt; padding-left: 5.4pt"> Stock options outstanding</td> <td style="font-size: 10pt; font-weight: normal; padding-bottom: 1pt">  </td> <td style="font-size: 10pt; font-weight: normal; text-align: right"> 1,956,650</td> <td> </td> <td style="font-size: 10pt; font-weight: normal; padding-bottom: 1pt">  </td> <td style="font-size: 10pt; font-weight: normal; text-align: right"> 539,575</td> <td> </td> <td style="font-size: 10pt; font-weight: normal; padding-bottom: 1pt">  </td> <td style="font-size: 10pt; font-weight: normal; text-align: center"> 2,496,225</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,255,204)"> <td style="font-size: 10pt; font-weight: normal; text-align: justify; padding-bottom: 1pt; padding-left: 5.4pt"> Options available for grant</td> <td style="font-size: 10pt; font-weight: normal; padding-bottom: 1pt">  </td> <td style="font-size: 10pt; font-weight: normal; text-align: right"> 31,350</td> <td> </td> <td style="font-size: 10pt; font-weight: normal; padding-bottom: 1pt">  </td> <td style="font-size: 10pt; font-weight: normal; text-align: right"> 3,460,425</td> <td> </td> <td style="font-size: 10pt; font-weight: normal; padding-bottom: 1pt">  </td> <td style="font-size: 10pt; font-weight: normal; text-align: center"> 3,491,775</td> </tr> </table>   Transactions involving stock options are summarized as follows:   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: normal; text-align: left">  </td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">  </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">   Number of Shares </td> <td style="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">  </td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">  </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">   Weighted Average Exercise Price </td> <td style="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">  </td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">  </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"> Weighted Average Grant Date Fair Value </td> <td style="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">  </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,255,204)"> <td style="font-size: 10pt; font-weight: normal; text-align: left">  </td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: left">  </td> <td style="font-size: 10pt; font-weight: normal; text-align: right">  </td> <td style="font-size: 10pt; font-weight: normal; text-align: left">  </td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: left">  </td> <td style="font-size: 10pt; font-weight: normal; text-align: right">  </td> <td style="font-size: 10pt; font-weight: normal; text-align: left">  </td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: left">  </td> <td style="font-size: 10pt; font-weight: normal; text-align: right">  </td> <td style="font-size: 10pt; font-weight: normal; text-align: left">  </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 49%; font-size: 10pt; font-weight: normal; text-align: left; padding-left: 5.4pt"> Balance at June 30, 2011</td> <td style="width: 1%; font-size: 10pt; font-weight: normal">  </td> <td style="width: 1%; font-size: 10pt; font-weight: normal; text-align: left">  </td> <td style="width: 14%; font-size: 10pt; font-weight: normal; text-align: right"> 2,233,475</td> <td style="width: 1%; font-size: 10pt; font-weight: normal; text-align: left">  </td> <td style="width: 1%; font-size: 10pt; font-weight: normal">  </td> <td style="width: 1%; font-size: 10pt; font-weight: normal; text-align: left"> $</td> <td style="width: 14%; font-size: 10pt; font-weight: normal; text-align: right"> 1.36</td> <td style="width: 1%; font-size: 10pt; font-weight: normal; text-align: left">  </td> <td style="width: 1%; font-size: 10pt; font-weight: normal">  </td> <td style="width: 1%; font-size: 10pt; font-weight: normal; text-align: left"> $</td> <td style="width: 14%; font-size: 10pt; font-weight: normal; text-align: right"> 0.65</td> <td style="width: 1%; font-size: 10pt; font-weight: normal; text-align: left">  </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,255,204)"> <td style="font-size: 10pt; font-weight: normal; text-align: left; padding-left: 5.4pt"> Granted</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: left">  </td> <td style="font-size: 10pt; font-weight: normal; text-align: right">-</td> <td style="font-size: 10pt; font-weight: normal; text-align: left">  </td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: left"> $</td> <td style="font-size: 10pt; font-weight: normal; text-align: right">-</td> <td style="font-size: 10pt; font-weight: normal; text-align: left">  </td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: left"> $</td> <td style="font-size: 10pt; font-weight: normal; text-align: right">-</td> <td style="font-size: 10pt; font-weight: normal; text-align: left">  </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: normal; text-align: left; padding-left: 5.4pt"> Exercised</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: left">  </td> <td style="font-size: 10pt; font-weight: normal; text-align: right">-</td> <td style="font-size: 10pt; font-weight: normal; text-align: left">  </td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: left"> $</td> <td style="font-size: 10pt; font-weight: normal; text-align: right">-</td> <td style="font-size: 10pt; font-weight: normal; text-align: left">  </td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: left"> $</td> <td style="font-size: 10pt; font-weight: normal; text-align: right">-</td> <td style="font-size: 10pt; font-weight: normal; text-align: left">  </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,255,204)"> <td style="font-size: 10pt; font-weight: normal; text-align: left; padding-bottom: 1pt; padding-left: 5.4pt"> Cancelled</td> <td style="font-size: 10pt; font-weight: normal; padding-bottom: 1pt">  </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: normal; text-align: left">  </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: normal; text-align: right"> (11,000</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: normal; text-align: left"> )</td> <td style="font-size: 10pt; font-weight: normal; padding-bottom: 1pt">  </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: normal; text-align: left"> $</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: normal; text-align: right"> 1.45</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: normal; text-align: left">  </td> <td style="font-size: 10pt; font-weight: normal; padding-bottom: 1pt">  </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: normal; text-align: left"> $</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: normal; text-align: right"> 0.68</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: normal; text-align: left">  </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: normal; text-align: left; padding-left: 5.4pt">  </td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: left">  </td> <td style="font-size: 10pt; font-weight: normal; text-align: right">  </td> <td style="font-size: 10pt; font-weight: normal; text-align: left">  </td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: left">  </td> <td style="font-size: 10pt; font-weight: normal; text-align: right">  </td> <td style="font-size: 10pt; font-weight: normal; text-align: left">  </td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: left">  </td> <td style="font-size: 10pt; font-weight: normal; text-align: right">  </td> <td style="font-size: 10pt; font-weight: normal; text-align: left">  </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,255,204)"> <td style="font-size: 10pt; font-weight: normal; text-align: left; padding-left: 5.4pt"> Balance at September 30, 2011</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: left">  </td> <td style="font-size: 10pt; font-weight: normal; text-align: right"> 2,222,475</td> <td style="font-size: 10pt; font-weight: normal; text-align: left">  </td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: left"> $</td> <td style="font-size: 10pt; font-weight: normal; text-align: right">1.36</td> <td style="font-size: 10pt; font-weight: normal; text-align: left">  </td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: left"> $</td> <td style="font-size: 10pt; font-weight: normal; text-align: right">0.65</td> <td style="font-size: 10pt; font-weight: normal; text-align: left">  </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: normal; text-align: left; padding-left: 5.4pt"> Granted</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: left">  </td> <td style="font-size: 10pt; font-weight: normal; text-align: right"> 30,000</td> <td style="font-size: 10pt; font-weight: normal; text-align: left">  </td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: left"> $</td> <td style="font-size: 10pt; font-weight: normal; text-align: right">1.07</td> <td style="font-size: 10pt; font-weight: normal; text-align: left">  </td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: left"> $</td> <td style="font-size: 10pt; font-weight: normal; text-align: right">0.57</td> <td style="font-size: 10pt; font-weight: normal; text-align: left">  </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,255,204)"> <td style="font-size: 10pt; font-weight: normal; text-align: left; padding-left: 5.4pt"> Exercised</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: left">  </td> <td style="font-size: 10pt; font-weight: normal; text-align: right">-</td> <td style="font-size: 10pt; font-weight: normal; text-align: left">  </td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: left"> $</td> <td style="font-size: 10pt; font-weight: normal; text-align: right">-</td> <td style="font-size: 10pt; font-weight: normal; text-align: left">  </td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: left"> $</td> <td style="font-size: 10pt; font-weight: normal; text-align: right">-</td> <td style="font-size: 10pt; font-weight: normal; text-align: left">  </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: normal; text-align: left; padding-bottom: 1pt; padding-left: 5.4pt"> Cancelled</td> <td style="font-size: 10pt; font-weight: normal; padding-bottom: 1pt">  </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: normal; text-align: left">  </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: normal; text-align: right"> (2,750</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: normal; text-align: left"> )</td> <td style="font-size: 10pt; font-weight: normal; padding-bottom: 1pt">  </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: normal; text-align: left"> $</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: normal; text-align: right"> 1.64</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: normal; text-align: left">  </td> <td style="font-size: 10pt; font-weight: normal; padding-bottom: 1pt">  </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: normal; text-align: left"> $</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: normal; text-align: right"> 0.73</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: normal; text-align: left">  </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,255,204)"> <td style="font-size: 10pt; font-weight: normal; text-align: left; padding-left: 5.4pt">  </td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: left">  </td> <td style="font-size: 10pt; font-weight: normal; text-align: right">  </td> <td style="font-size: 10pt; font-weight: normal; text-align: left">  </td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: left">  </td> <td style="font-size: 10pt; font-weight: normal; text-align: right">  </td> <td style="font-size: 10pt; font-weight: normal; text-align: left">  </td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: left">  </td> <td style="font-size: 10pt; font-weight: normal; text-align: right">  </td> <td style="font-size: 10pt; font-weight: normal; text-align: left">  </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: normal; text-align: left; padding-left: 5.4pt"> Balance at December 31, 2011</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: left">  </td> <td style="font-size: 10pt; font-weight: normal; text-align: right"> 2,249,725</td> <td style="font-size: 10pt; font-weight: normal; text-align: left">  </td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: left"> $</td> <td style="font-size: 10pt; font-weight: normal; text-align: right">1.36</td> <td style="font-size: 10pt; font-weight: normal; text-align: left">  </td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: left"> $</td> <td style="font-size: 10pt; font-weight: normal; text-align: right">0.65</td> <td style="font-size: 10pt; font-weight: normal; text-align: left">  </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,255,204)"> <td style="font-size: 10pt; font-weight: normal; text-align: left; padding-left: 5.4pt"> Granted</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: left">  </td> <td style="font-size: 10pt; font-weight: normal; text-align: right"> 247,000</td> <td style="font-size: 10pt; font-weight: normal; text-align: left">  </td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: left"> $</td> <td style="font-size: 10pt; font-weight: normal; text-align: right">0.95</td> <td style="font-size: 10pt; font-weight: normal; text-align: left">  </td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: left"> $</td> <td style="font-size: 10pt; font-weight: normal; text-align: right">0.57</td> <td style="font-size: 10pt; font-weight: normal; text-align: left">  </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: normal; text-align: left; padding-left: 5.4pt"> Exercised</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: left">  </td> <td style="font-size: 10pt; font-weight: normal; text-align: right">-</td> <td style="font-size: 10pt; font-weight: normal; text-align: left">  </td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: left"> $</td> <td style="font-size: 10pt; font-weight: normal; text-align: right">-</td> <td style="font-size: 10pt; font-weight: normal; text-align: left">  </td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: left"> $</td> <td style="font-size: 10pt; font-weight: normal; text-align: right">-</td> <td style="font-size: 10pt; font-weight: normal; text-align: left">  </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,255,204)"> <td style="font-size: 10pt; font-weight: normal; text-align: left; padding-bottom: 1pt; padding-left: 5.4pt"> Cancelled</td> <td style="font-size: 10pt; font-weight: normal; padding-bottom: 1pt">  </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: normal; text-align: left">  </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: normal; text-align: right"> (500</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: normal; text-align: left"> )</td> <td style="font-size: 10pt; font-weight: normal; padding-bottom: 1pt">  </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: normal; text-align: left"> $</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: normal; text-align: right"> 1.07</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: normal; text-align: left">  </td> <td style="font-size: 10pt; font-weight: normal; padding-bottom: 1pt">  </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: normal; text-align: left"> $</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: normal; text-align: right"> 0.49</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: normal; text-align: left">  </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: normal; text-align: left; padding-left: 5.4pt">  </td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: left">  </td> <td style="font-size: 10pt; font-weight: normal; text-align: right">  </td> <td style="font-size: 10pt; font-weight: normal; text-align: left">  </td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: left">  </td> <td style="font-size: 10pt; font-weight: normal; text-align: right">  </td> <td style="font-size: 10pt; font-weight: normal; text-align: left">  </td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: left">  </td> <td style="font-size: 10pt; font-weight: normal; text-align: right">  </td> <td style="font-size: 10pt; font-weight: normal; text-align: left">  </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,255,204)"> <td style="font-size: 10pt; font-weight: normal; text-align: left; padding-left: 5.4pt"> Balance at March 31, 2012</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: left">  </td> <td style="font-size: 10pt; font-weight: normal; text-align: right"> 2,496,225</td> <td style="font-size: 10pt; font-weight: normal; text-align: left">  </td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: left"> $</td> <td style="font-size: 10pt; font-weight: normal; text-align: right">1.32</td> <td style="font-size: 10pt; font-weight: normal; text-align: left">  </td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: left"> $</td> <td style="font-size: 10pt; font-weight: normal; text-align: right">0.64</td> <td style="font-size: 10pt; font-weight: normal; text-align: left">  </td> </tr> </table>   As of March 31, 2012, the total compensation costs related to non-vested awards yet to be expensed was approximately $0.4 million to be amortized over the next four years.     The weighted average exercise prices for options granted and exercisable and the weighted average remaining contractual life for options outstanding as of March 31, 2012 were as follows:   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.25in"> <tr style="vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; border-bottom: Black 1pt solid; padding-left: 0"> As of March 31, 2012  </td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">  </td> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"> Number of Shares</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">  </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">   Weighted Average Exercise Price </td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">  </td> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"> Weighted Average Remaining Contractual Life (Years)</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">  </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">     Intrinsic Value  </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: normal; text-align: left; padding-left: 0">  </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: center"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: center"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: center"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,255,204)"> <td style="width: 40%; font-size: 10pt; font-weight: normal; text-align: left; padding-left: 0"> Employees – Outstanding</td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 14%; font-size: 10pt; text-align: right">  2,261,225</td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 14%; font-size: 10pt; text-align: center"> $1.32</td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 14%; font-size: 10pt; text-align: center"> 2.53</td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 14%; font-size: 10pt; text-align: center"> $3,000</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: normal; text-align: left; padding-left: 0"> Employees – Expected to Vest</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: right"> 2,035,103</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: center"> $1.32</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: center"> 2.53</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: center"> $3,000</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,255,204)"> <td style="font-size: 10pt; font-weight: normal; text-align: left; padding-left: 0"> Employees – Exercisable</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: right"> 1,316,344</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: center"> $1.55</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: center"> 1.56</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: center">--</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: normal; text-align: left; padding-left: 0">  </td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: center">  </td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: center">  </td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: center">  </td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: center">  </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,255,204)"> <td style="font-size: 10pt; font-weight: normal; text-align: left; padding-left: 0"> Non-Employees-Outstanding</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: right"> 235,000</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: center"> $1.30</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: center"> 2.20</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: center">--</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: normal; text-align: left; padding-left: 0"> Non-Employees- Expected to Vest</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: right"> 235,000</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: center"> $1.30</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: center"> 2.20</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: center">--</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,255,204)"> <td style="font-size: 10pt; font-weight: normal; text-align: left; padding-left: 0"> Non-Employees-Exercisable</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: right"> 223,750</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: center"> $1.44</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: center"> 2.13</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: center">--</td> </tr> </table>   The aggregate intrinsic value in the table above is the sum of the amounts by which the quoted market price of our common stock exceeded the exercise price of the options at March 31, 2012, for those options for which the quoted market price was in excess of the exercise price.   Additional information with respect to outstanding options as of March 31, 2012 is as follows (shares in thousands):   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td colspan="5" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"> Options Outstanding</td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">  </td> <td colspan="5" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"> Options Exercisable</td> </tr> <tr style="vertical-align: bottom"> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"> Options Exercise Price Range</td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">  </td> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"> Number of Shares</td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">  </td> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"> Weighted Average Remaining Contractual Life</td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">  </td> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"> Weighted Average Exercise Price</td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">  </td> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"> Number of Shares</td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">  </td> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"> Weighted Average Exercise Price</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 16%; font-size: 10pt; font-weight: normal; text-align: center"> $1.79</td> <td style="width: 1%; font-size: 10pt; font-weight: normal">  </td> <td style="width: 16%; font-size: 10pt; font-weight: normal; text-align: center"> 941</td> <td style="width: 1%; font-size: 10pt; font-weight: normal">  </td> <td style="width: 16%; font-size: 10pt; font-weight: normal; text-align: center"> 0.9 Years</td> <td style="width: 1%; font-size: 10pt; font-weight: normal">  </td> <td style="width: 16%; font-size: 10pt; font-weight: normal; text-align: center"> $1.79</td> <td style="width: 1%; font-size: 10pt; font-weight: normal">  </td> <td style="width: 16%; font-size: 10pt; font-weight: normal; text-align: center"> 941</td> <td style="width: 1%; font-size: 10pt; font-weight: normal">  </td> <td style="width: 15%; font-size: 10pt; font-weight: normal; text-align: center"> $1.79</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,255,204)"> <td style="font-size: 10pt; font-weight: normal; text-align: center"> $1.37</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: center">30</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: center">1.6 Years</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: center"> $1.37</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: center">30</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: center"> $1.37</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: normal; text-align: center"> $1.29</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: center">304</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: center">2.9 Years</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: center"> $1.29</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: center">152</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: center"> $1.29</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,255,204)"> <td style="font-size: 10pt; font-weight: normal; text-align: center"> $1.27</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: center">15</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: center">3.5 Years</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: center"> $1.27</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: center">4</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: center"> $1.27</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: normal; text-align: center"> $1.20</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: center">249</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: center">1.9 Years</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: center"> $1.20</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: center">187</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: center"> $1.20</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,255,204)"> <td style="font-size: 10pt; font-weight: normal; text-align: center"> $1.15</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: center">30</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: center">3.6 Years</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: center"> $1.15</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: center">30</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: center"> $1.15</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: normal; text-align: center"> $1.07</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: center">30</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: center">4.7 Years</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: center"> $1.07</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: center">30</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: center"> $1.07</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,255,204)"> <td style="font-size: 10pt; font-weight: normal; text-align: center"> $1.05</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: center">30</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: center">2.6 Years</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: center"> $1.05</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: center">30</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: center"> $1.05</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: normal; text-align: center"> $0.95</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: center">247</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: center">5.0 Years</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: center"> $0.95</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: center">-</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: center"> $0.95</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,255,204)"> <td style="font-size: 10pt; font-weight: normal; text-align: center"> $0.86</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: center">545</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: center">3.9 Years</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: center"> $0.86</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: center">136</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: center"> $0.86</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: normal; text-align: center"> $0.75</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: center">75</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: center">4.1 Years</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: center"> $0.75</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: center">-</td> <td style="font-size: 10pt; font-weight: normal"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: center"> $0.75</td> </tr> </table>   In addition to the above 2007 Plan, the Company issued 10,000 shares of restricted stock during fiscal year ended June 30, 2010 with a weighted average fair value of $0.58 per share.   We use the detailed method provided in ASC 718 for calculating the beginning balance of the additional paid-in capital pool (APIC pool) related to the tax effects of employee stock-based compensation, and to determine the subsequent impact on the APIC pool and Consolidated Statements of Cash Flows of the tax effects of employee stock-based compensation awards that are outstanding upon adoption of ASC 718. </div>

462000

94000

10513166

-581000

510000

16696000

-3000

165000 <div style="font: 10pt Times New Roman, Times, Serif"> NOTE 9- STOCK REPURCHASE PLAN   In February 2008, the Company’s Board of Directors authorized a stock repurchase program. Under the stock repurchase program, the Company may purchase outstanding shares of its common stock on the open market at such times and prices determined in the sole discretion of management. No shares were acquired pursuant to the repurchase program during the three and nine month periods ended March 31, 2012. </div> <div style="font: 10pt Times New Roman, Times, Serif"> NOTE 7- STOCK RIGHTS PLAN   In July 2007, the Company implemented a stock rights program. Pursuant to the program, stockholders of record on August 7, 2007, received a dividend of one right to purchase for $10 one one-hundredth of a share of a newly created Series A Junior Participating Preferred Stock. The rights are attached to the Company’s Common Stock and will also become attached to shares issued subsequent to August 7, 2007. The rights will not be traded separately and will not become exercisable until the occurrence of a triggering event, defined as an accumulation by a single person or group of 20% or more of the Company’s Common Stock. The rights will expire on August 6, 2017 and are redeemable at $0.0001 per right.   After a triggering event, the rights will detach from the Common Stock. If the Company is then merged into, or is acquired by, another corporation, the Company has the opportunity to either (i) redeem the rights or (ii) permit the rights holder to receive in the merger stock of the Company or the acquiring company equal to two times the exercise price of the right (i.e., $20). In the latter instance, the rights attached to the acquirer’s stock become null and void. The effect of the rights program is to make a potential acquisition of the Company more expensive for the acquirer if, in the opinion of the Company’s Board of Directors, the offer is inadequate.   No triggering events occurred in the nine months ended March 31, 2012. </div> 31000

3268000

9258000

212000

0.02

216000

212000

18000

0.02

-655000

1083000

3221000

10763166

684000

10763166

5990000

2840000

8497000

-327000

-0.03

199000

-327000

-0.03

-205000

77000

3045000

10513166

5657000

0001398797 2012-01-01 2012-03-31 0001398797 2011-01-01 2011-03-31 0001398797 2011-07-01 2012-03-31 0001398797 2010-07-01 2011-03-31 0001398797 2011-06-30 0001398797 2010-06-30 0001398797 2012-03-31 0001398797 2011-03-31 iso4217:USD shares iso4217:USD shares Amounts derived from audited financial statements

EX-101.SCH 7 ptsx-20120331.xsd XBRL TAXONOMY EXTENSION SCHEMA 101 - Document - Document and Entity Information link:calculationLink link:presentationLink link:definitionLink 103 - Statement - CONDENSED CONSOLIDATED BALANCE SHEETS link:calculationLink link:presentationLink link:definitionLink 104 - Statement - CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) link:calculationLink link:presentationLink link:definitionLink 105 - Statement - CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS link:calculationLink link:presentationLink link:definitionLink 106 - Statement - CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS link:calculationLink link:presentationLink link:definitionLink 107 - Disclosure - THE COMPANY link:calculationLink link:presentationLink link:definitionLink 108 - Disclosure - LONG TERM DEBT AND NOTES PAYABLE link:calculationLink link:presentationLink link:definitionLink 109 - Disclosure - PROPERTY AND EQUIPMENT link:calculationLink link:presentationLink link:definitionLink 110 - Disclosure - COMMITMENTS AND CONTINGENCIES link:calculationLink link:presentationLink link:definitionLink 111 - Disclosure - INCOME TAXES link:calculationLink link:presentationLink link:definitionLink 112 - Disclosure - STOCK OPTION PLAN, STOCK-BASED COMPENSATION link:calculationLink link:presentationLink link:definitionLink 113 - Disclosure - STOCK RIGHTS PLAN link:calculationLink link:presentationLink link:definitionLink 114 - Disclosure - SHAREHOLDER'S EQUITY link:calculationLink link:presentationLink link:definitionLink 115 - Disclosure - STOCK REPURCHASE PLAN link:calculationLink link:presentationLink link:definitionLink 116 - Disclosure - SEGMENT INFORMATION link:calculationLink link:presentationLink link:definitionLink EX-101.CAL 8 ptsx-20120331_cal.xml XBRL TAXONOMY EXTENSION CALCULATION LINKBASE EX-101.DEF 9 ptsx-20120331_def.xml XBRL TAXONOMY EXTENSION DEFINITION LINKBASE EX-101.LAB 10 ptsx-20120331_lab.xml XBRL TAXONOMY EXTENSION LABEL LINKBASE Accounts Payable Current Accounts payable Accounts Receivable Net Current Accounts receivable, net of allowances for doubtful accounts of $320 and $351, respectively Additional Paid In Capital Additional paid-in capital Adjustments To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities [Abstract] Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: Allowance For Doubtful Accounts Receivable Current Accounts receivable, allowances for doubtful accounts Amendment Flag Amendment Flag Amortization Of Intangible Assets Amortization of non-compete agreement Assets Total assets Assets [Abstract] Assets Assets Current Total current assets Assets Current [Abstract] Current assets: Capital Expenditures Incurred But Not Yet Paid Assets acquired through capital lease obligations Capital Lease Obligations Current Current portion of capital lease obligations Capital Lease Obligations Noncurrent Capital lease obligations, less current portion Cash And Cash Equivalents At Carrying Value Cash and cash equivalents at end of period Cash and cash equivalents at beginning of period Cash and cash equivalents Cash And Cash Equivalents Period Increase Decrease Net increase (decrease) in cash and cash equivalents Commitments And Contingencies Commitments and contingencies (Note 4) Commitments And Contingencies Disclosure [Text Block] COMMITMENTS AND CONTINGENCIES Common Stock No Par Value Common stock, no par value Common Stock Shares Authorized Common stock, shares authorized Common Stock Shares Issued Common stock, shares issued Common Stock Shares Outstanding Common stock, shares outstanding Common Stock Value Common stock - no par value; 50,000,000 shares authorized; 10,513,166 shares issued and outstanding on March 31, 2012 and June 30, 2011 Cost Of Services Cost of services sold Current Fiscal Year End Date Current Fiscal Year End Date Debt Disclosure [Text Block] LONG TERM DEBT AND NOTES PAYABLE Deferred Gain On Sale Of Real Estate, Current Deferred Gain On Sale Of Real Estate Current Current portion of deferred gain on sale of real estate Deferred Gain On Sale Of Real Estate, Noncurrent Deferred Gain On Sale Of Real Estate Noncurrent Deferred gain on sale of real estate, less current portion Deferred Rent Credit Current Current portion of deferred lease incentive Deferred Rent Credit Noncurrent Deferred lease incentive, less current portion Depreciation Depletion And Amortization Depreciation and amortization Disclosure Of Compensation Related Costs Share Based Payments [Text Block] STOCK OPTION PLAN, STOCK-BASED COMPENSATION Document - Document and Entity Information [Abstract] Document Documentand Entity Information [Abstract] Document - Document and Entity Information [Abstract] Document Fiscal Period Focus Document Fiscal Period Focus Document Fiscal Year Focus Document Fiscal Year Focus Document Information [Line Items] Document Information [Line Items] Document Period End Date Document Period End Date Document Type Document Type Earnings Per Share [Abstract] Income (loss) per share: Earnings Per Share Basic Net income (loss) Earnings Per Share Basic [Abstract] Basic: Earnings Per Share Diluted Net income (loss) Earnings Per Share Diluted [Abstract] Diluted: Employee Related Liabilities Current Accrued wages and benefits Entities [Table] Entities [Table] Entity Central Index Key Entity Central Index Key Entity Common Stock Shares Outstanding Entity Common Stock, Shares Outstanding Entity [Domain] Entity [Domain] Entity Filer Category Entity Filer Category Entity Registrant Name Entity Registrant Name Gain Loss On Disposition Of Assets (Gain) loss on sale of fixed assets Gross Profit Gross profit Impairment Of Long Lived Assets Held For Use Impairment of long lived assets Impairment of long lived assets Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments Income (loss) before income taxes Income Statement [Abstract] Income Statement [Abstract] Income Tax Disclosure [Text Block] INCOME TAXES Income Taxes Paid Net Cash payments for income taxes (net of refunds) Income Tax Expense Benefit Provision for income taxes Increase Decrease In Accounts Payable Increase (decrease) in accounts payable Increase Decrease In Accounts Receivable (Increase) decrease in accounts receivable Increase Decrease In Deferred Income Taxes Decrease in prepaid income taxes Increase Decrease In Deferred Leasing Fees Increase in deferred lease incentive Increase Decrease In Employee Related Liabilities Increase (decrease) in accrued wages and benefits Increase Decrease In Inventories Decrease in inventories Increase Decrease In Operating Capital [Abstract] Changes in operating assets and liabilities: Increase Decrease In Other Accrued Liabilities (Decrease) in other accrued expenses Increase Decrease In Other Operating Assets (Increase) Decrease in other assets Increase Decrease In Prepaid Deferred Expense And Other Assets (Increase) in prepaid expenses and other current assets Interest Expense Interest expense Interest Paid Cash payments for interest Inventory Net Inventories, net Investment Income Interest Interest income Legal Entity [Axis] Legal Entity [Axis] Liabilities Total liabilities Liabilities And Stockholders Equity Total liabilities and shareholders' equity Liabilities And Stockholders Equity [Abstract] Liabilities and Shareholders' Equity Liabilities Current Total current liabilities Liabilities Current [Abstract] Current liabilities: Liabilities Noncurrent Total long-term liabilities Long Term Notes Payable Notes payable, less current portion Net Cash Provided By Used In Financing Activities Net cash provided by (used in) financing activities Net Cash Provided By Used In Financing Activities [Abstract] Cash flows from financing activities: Net Cash Provided By Used In Investing Activities Net cash (used in) investing activities Net Cash Provided By Used In Investing Activities [Abstract] Cash flows from investing activities: Net Cash Provided By Used In Operating Activities Net cash provided by (used in) operating activities Net Cash Provided By Used In Operating Activities [Abstract] Cash flows from operating activities: Net Income Loss Net income (loss) Net income (loss) Notes Payable Current Current portion of notes payable Notes to Financial Statements [Abstract] Notes To Financial Statements [Abstract] Notes to Financial Statements [Abstract] Operating Income Loss Operating Income (loss) Organization Consolidation And Presentation Of Financial Statements Disclosure [Text Block] THE COMPANY Other Accrued Liabilities Current Other accrued expenses Other Assets Noncurrent Other assets, net Other Liabilities Noncurrent Other long-term liabilities Other Noncash Income Expense Amortization of deferred gain on real estate Other Nonoperating Income Other income Payments To Acquire Property Plant And Equipment Capital expenditures Preferred Stock No Par Value Preferred stock, no par value Preferred Stock Shares Authorized Preferred stock, shares authorized Preferred Stock Shares Outstanding Preferred stock, outstanding Preferred Stock Value Preferred stock - no par value; 5,000,000 shares authorized; none outstanding Prepaid Expense And Other Assets Current Prepaid expenses and other current assets Prepaid Taxes Prepaid income taxes Proceeds From Issuance Of Common Stock Issuance of common stock Proceeds From Repayments Of Lines Of Credit Proceeds from line of credit, net Proceeds From Sale Of Property Plant And Equipment Proceeds from sale of property and equipment Property Plant And Equipment Disclosure [Text Block] PROPERTY AND EQUIPMENT Property Plant And Equipment Net Property and equipment, net Provision For Reduction Of Doubtful Accounts Provision For Reduction Of Doubtful Accounts Provision for (recovery of) doubtful accounts Recognition Of Deferred Revenue Amortization of deferred lease credit The cash outflow for the obligation for lease meeting the criteria for capitalization (includes both long and short term portions). Repayments Of Capital Lease Obligations Repayment of capital lease obligations Repayments Of Notes Payable Repayment of notes payable Research And Development Expense Research and development expense Retained Earnings Accumulated Deficit Accumulated deficit Revenues Revenues Segment Reporting Disclosure [Text Block] SEGMENT INFORMATION Selling General And Administrative Expense Selling, general and administrative expense Share Based Compensation Stock compensation expense Share Repurchase Program Disclosure Share Repurchase Program Disclosure [Text Block] STOCK REPURCHASE PLAN Statement [Line Items] Statement [Line Items] Statement Of Cash Flows [Abstract] Statement of Cash Flows [Abstract] Statement Of Financial Position [Abstract] Statement of Financial Position [Abstract] Statement [Table] Statement [Table] Stockholder Rights Plan Disclosure Stockholder Rights Plan STOCK RIGHTS PLAN Stockholders Equity Total shareholders' equity Stockholders Equity [Abstract] Shareholders' equity: Stockholders Equity Note Disclosure [Text Block] SHAREHOLDER'S EQUITY Stock Issued 1 Settlement of a lawsuit for common stock Trading Symbol Trading Symbol Weighted Average Number Of Diluted Shares Outstanding Weighted average number of shares including the dilutive effect of stock options Weighted Average Number Of Shares Outstanding Basic Weighted average number of shares EX-101.PRE 11 ptsx-20120331_pre.xml XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE XML 12 report.css IDEA: XBRL DOCUMENT /* Updated 2009-11-04 */ /* v2.2.0.24 */ /* DefRef Styles */ ..report table.authRefData{ background-color: #def; border: 2px solid #2F4497; font-size: 1em; position: absolute; } ..report table.authRefData a { display: block; font-weight: bold; } ..report table.authRefData p { margin-top: 0px; } ..report table.authRefData .hide { background-color: #2F4497; padding: 1px 3px 0px 0px; text-align: right; } ..report table.authRefData .hide a:hover { background-color: #2F4497; } ..report table.authRefData .body { height: 150px; overflow: auto; width: 400px; } ..report table.authRefData table{ font-size: 1em; } /* Report Styles */ ..pl a, .pl a:visited { color: black; text-decoration: none; } /* table */ ..report { background-color: white; border: 2px solid #acf; clear: both; color: black; font: normal 8pt Helvetica, Arial, san-serif; margin-bottom: 2em; } ..report hr { border: 1px solid #acf; } /* Top labels */ ..report th { background-color: #acf; color: black; font-weight: bold; text-align: center; } ..report th.void { background-color: transparent; color: #000000; font: bold 10pt Helvetica, Arial, san-serif; text-align: left; } ..report .pl { text-align: left; vertical-align: top; white-space: normal; width: 200px; word-wrap: break-word; } ..report td.pl a.a { cursor: pointer; display: block; width: 200px; } ..report td.pl div.a { width: 200px; } ..report td.pl a:hover { background-color: #ffc; } /* Header rows... */ ..report tr.rh { background-color: #acf; color: black; font-weight: bold; } /* Calendars... */ ..report .rc { background-color: #f0f0f0; } /* Even rows... */ ..report .re, .report .reu { background-color: #def; } ..report .reu td { border-bottom: 1px solid black; } /* Odd rows... */ ..report .ro, .report .rou { background-color: white; } ..report .rou td { border-bottom: 1px solid black; } ..report .rou table td, .report .reu table td { border-bottom: 0px solid black; } /* styles for footnote marker */ ..report .fn { white-space: nowrap; } /* styles for numeric types */ ..report .num, .report .nump { text-align: right; white-space: nowrap; } ..report .nump { padding-left: 2em; } ..report .nump { padding: 0px 0.4em 0px 2em; } /* styles for text types */ ..report .text { text-align: left; white-space: normal; } ..report .text .big { margin-bottom: 1em; width: 17em; } ..report .text .more { display: none; } ..report .text .note { font-style: italic; font-weight: bold; } ..report .text .small { width: 10em; } ..report sup { font-style: italic; } ..report .outerFootnotes { font-size: 1em; } XML 13 R9.htm IDEA: XBRL DOCUMENT

COMMITMENTS AND CONTINGENCIES

9 Months Ended

Mar. 31, 2012

COMMITMENTS AND CONTINGENCIES

NOTE 4- COMMITMENTS AND CONTINGENCIES

- Definition

The entire disclosure for commitments and contingencies.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 450

-SubTopic 20

-Section 50

-Paragraph 4

-URI http://asc.fasb.org/extlink&oid=6952336&loc=d3e14435-108349

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 460

-SubTopic 10

-Section 50

-Paragraph 8

-URI http://asc.fasb.org/extlink&oid=6398077&loc=d3e12565-110249

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name FASB Interpretation (FIN)

-Number 14

-Paragraph 3

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 440

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6394976&loc=d3e25287-109308

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 5

-Paragraph 9, 10, 11, 12

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.25)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 825

-SubTopic 20

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6449706&loc=d3e16207-108621

+ Details

EXCEL 14 Financial_Report.xls IDEA: XBRL DOCUMENT begin 644 Financial_Report.xls M[[N_34E-12U697)S:6]N.B`Q+C`-"E@M1&]C=6UE;G0M5'EP93H@5V]R:V)O M;VL-"D-O;G1E;G0M5'EP93H@;75L=&EP87)T+W)E;&%T960[(&)O=6YD87)Y M/2(M+2TM/5].97AT4&%R=%\V8S'!L;W)E&UL;G,Z=CTS1")U&UL;G,Z;STS1")U&UL/@T*(#QX.D5X8V5L5V]R:V)O;VL^#0H@(#QX M.D5X8V5L5V]R:W-H965T5]);F9O#I%>&-E;%=O#I%>&-E;%=O#I.86UE/@T*("`@(#QX.E=O#I%>&-E;%=O#I.86UE/D-/3D1%3E-%1%]#3TY33TQ)1$%4141?4U1!5$5- M13$\+W@Z3F%M93X-"B`@("`\>#I7;W)K#I.86UE/@T*("`@(#QX.E=O#I%>&-E;%=O#I.86UE M/DQ/3D=?5$5235]$14)47T%.1%].3U1%4U]005E!0CPO>#I.86UE/@T*("`@ M(#QX.E=O#I%>&-E M;%=O#I.86UE/E!23U!%4E197T%.1%]%455)4$U% M3E0\+W@Z3F%M93X-"B`@("`\>#I7;W)K#I.86UE/@T*("`@(#QX.E=O M#I%>&-E;%=O#I.86UE/DE.0T]-15]405A%4SPO>#I.86UE/@T*("`@ M(#QX.E=O#I%>&-E M;%=O#I.86UE/E-43T-+7T]05$E/3E]03$%.7U-4 M3T-+0D%3141?0SPO>#I.86UE/@T*("`@(#QX.E=O#I%>&-E;%=O#I. M86UE/E-43T-+7U))1TA44U]03$%./"]X.DYA;64^#0H@("`@/'@Z5V]R:W-H M965T4V]U#I%>&-E;%=O#I.86UE/@T* M("`@(#QX.E=O#I% M>&-E;%=O#I.86UE/E-43T-+7U)%4%520TA!4T5? M4$Q!3CPO>#I.86UE/@T*("`@(#QX.E=O#I%>&-E;%=O#I.86UE/E-% M1TU%3E1?24Y&3U)-051)3TX\+W@Z3F%M93X-"B`@("`\>#I7;W)K#I3='EL97-H965T($A2968],T0B5V]R:W-H965T3X-"CPO:'1M;#X-"@T*+2TM+2TM/5].97AT4&%R=%\V8S'0O:'1M;#L@8VAA2!) M;F9O'0^/'-P M86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S M/3-$'0^9F%L'0^36%R(#,Q+`T*"0DR,#$R/'-P86X^ M/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$ M'0^,C`Q,CQS<&%N/CPO'0^43,\2!#96YT3PO=&0^ M#0H@("`@("`@(#QT9"!C;&%S'0^,#`P,3,Y.#'0^+2TP-BTS,#QS<&%N/CPO'1087)T7S9C-S(T M.#!E7S0S-F5?-&(P-%]A,3)E7S,P830S,3DS.64W90T*0V]N=&5N="U,;V-A M=&EO;CH@9FEL93HO+R]#.B\V8S'0O:F%V87-C3X-"B`@("`\=&%B;&4@8VQA'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^)FYB'0^ M)FYBF5D.R!N;VYE M(&]U='-T86YD:6YG/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#XF M;F)S<#LF;F)S<#L\F5D.R`Q,"PU,3,L M,38V('-H87)E3PO=&0^#0H@("`@("`@(#QT9"!C;&%S3X-"CPO:'1M;#X-"@T*+2TM+2TM/5]. M97AT4&%R=%\V8S'0O:'1M;#L@8VAA7!E(&-O;G1E;G0],T0G=&5X="]H=&UL.R!C:&%RF5D/"]T9#X-"B`@("`@ M("`@/'1D(&-L87-S/3-$;G5M<#XU+#`P,"PP,#`\'0^)FYB'0^)FYB7!E.B!T97AT+VAT;6P[(&-H87)S970](G5S+6%S8VEI(@T* M#0H\:'1M;#X-"B`@/&AE860^#0H@("`@/$U%5$$@:'1T<"UE<75I=CTS1$-O M;G1E;G0M5'EP92!C;VYT96YT/3-$)W1E>'0O:'1M;#L@8VAA'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@ M("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C M;&%S'0^)FYB M'0^)FYB'0^)FYB'0^)FYB'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT M9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT M9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT M9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R M/@T*("`@("`@/'1R(&-L87-S/3-$'0O:F%V87-C3X-"B`@("`\=&%B;&4@8VQA2`H=7-E9"!I;BD@;W!EF%T:6]N(&]F(&1E9F5R M'!E;G-E/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XR M-3(L,#`P/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@ M(#QT9"!C;&%SF%T:6]N(&]F(&YO;BUC;VUP971E(&%G'0^/'-P86X^/"]S M<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@ M("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$2`H=7-E9"!I;BD@;W!E'!E;F1I='5R97,\+W1D/@T*("`@ M("`@("`\=&0@8VQA6UE;G0@;V8@8V%P:71A;"!L96%S M92!O8FQI9V%T:6]N&5S("AN970@;V8@'1087)T7S9C M-S(T.#!E7S0S-F5?-&(P-%]A,3)E7S,P830S,3DS.64W90T*0V]N=&5N="U, M;V-A=&EO;CH@9FEL93HO+R]#.B\V8S'0O:F%V87-C3X-"B`@("`\=&%B;&4@8VQA$$P.SPO8CX\+W`^#0H\<"!S='EL93TS1"=415A4+4%,24=. M.B!J=7-T:69Y.R!415A4+4E.1$5.5#H@,"XU:6X[($U!4D=)3CH@,'!T(#!P M>#L@1D].5#H@,3!P="!4:6UE2!T M;R!C;VYS=6UE3L@5$585"U)3D1%3E0Z(#`N-6EN.R!-05)'24XZ(#!P="`P<'@[($9/ M3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE3L@5$58 M5"U)3D1%3E0Z(#`N-6EN.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@ M5&EM97,@3F5W(%)O;6%N+"!4:6UEF4L('1H92!P2X@16%C:"!L;V-A=&EO;B!E;7!L;WES('!E M#L@1D].5#H@,3!P="!4:6UE#L@1D].5#H@,3!P="!4:6UE7!I8V%L;'DL(&$@9F5A='5R92!F:6QM(&]R('1E;&5V:7-I;VX@2P@;W(@8V]R<&]R M871I;VX@9F]R#0IP2!C87!A8FEL:71I M97,N/"]P/@T*/'`@3L@5$58 M5"U)3D1%3E0Z(#`N-6EN.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@ M5&EM97,@3F5W(%)O;6%N+"!4:6UE3L@5$585"U)3D1%3E0Z M(#`N-6EN.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W M(%)O;6%N+"!4:6UE2!O9B!T:&4@1%9$(&%N9"!V:61E M;R!G86UE(')E;G1A;"!B=7-I;F5S"DL('9E;F1I;F<@;6%C:&EN97,@*%)E9&)O>"D@86YD(&]T:&5R('9I M9&5O#0IS=&]R97,N/"]P/@T*/'`@3L@5$585"U)3D1%3E0Z(#`N-6EN.R!-05)'24XZ(#!P="`P<'@[($9/ M3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE3L@5$58 M5"U)3D1%3E0Z(#`N-6EN.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@ M5&EM97,@3F5W(%)O;6%N+"!4:6UE2!A M;B!A=71O;6%T960@:6YV96YT;W)Y(&UA;F%G96UE;G0@*"8C>#(P,4,[04E- M)B-X,C`Q1#LI#0IS>7-T96T@:6X@82`Q+#(P,"TQ+#8P,"!S<75A"!S=&]R97,@=&\@8F4@=6YC M;VUP971I=&EV90T*=VET:"!L;W=E'!E`T*=F5N9&EN9R!M86-H M:6YE*2X\+W`^#0H\<"!S='EL93TS1"=415A4+4%,24=..B!J=7-T:69Y.R!4 M15A4+4E.1$5.5#H@,"XU:6X[($U!4D=)3CH@,'!T(#!P>#L@1D].5#H@,3!P M="!4:6UE#L@1D].5#H@,3!P="!4:6UE7-T96TN#0I-;W9I929G M=#M1('!R;W9I9&5S('1H92!#;VUP86YY('=I=&@@82!C;VYT96YT(&1I2!C;VUP;&EM96YT87)Y('1O('1H92!#;VUP M86YY)B-X,C`Q.3MS('!O3L@5$585"U)3D1%3E0Z M(#`N-6EN.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W M(%)O;6%N+"!4:6UE3L@5$585"U)3D1%3E0Z(#`N-6EN.R!- M05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4 M:6UE6EN9R!U;F%U9&ET960@0V]N M9&5N2P-"FEN8VQU9&EN9R!T:&]S92!O9B!T:&4@0V]M<&%N>28C>#(P,3D[ M#(P,3D[2!F;W(@82!F86ER M('!R97-E;G1A=&EO;@T*:&%V92!B965N(&EN8VQU9&5D+B!!;&P@:6YT97)C M;VUP86YY(&)A;&%N8V5S(&%N9"!T6QE/3-$)U1%6%0M04Q)1TXZ(&IU#L@1D].5#H@,3!P="!4:6UE6QE/3-$)U1%6%0M04Q)1TXZ(&IU#L@1D].5#H@,3!P="!4:6UE6QE/3-$ M)U1%6%0M04Q)1TXZ(&IU3L@5$585"U)3D1%3E0Z(#`N-6EN.R!-05)'24XZ M(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE6QE/3-$)U=)1%1(.B`Q M,#`E.R!"3U)$15(M0T],3$%04T4Z(&-O;&QA<'-E.R!&3TY4.B`Q,'!T(%1I M;65S($YE=R!2;VUA;BP@5&EM97,L(%-E6QE/3-$)U9%4E1)0T%,+4%,24=. M.B!B;W1T;VTG/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&IU6QE/3-$)T9/ M3E0Z(&)O;&0@.'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E$$P.SPO=&0^#0H\=&0@6QE/3-$)T9/3E0Z(&)O;&0@.'!T(%1I;65S($YE=R!2;VUA M;BP@5&EM97,L(%-E$$P.SPO=&0^#0H\=&0@6QE/3-$)T9/3E0Z(&)O;&0@ M.'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E$$P.SPO M=&0^#0H\=&0@6QE/3-$)T9/3E0Z(&)O;&0@.'!T(%1I;65S($YE M=R!2;VUA;BP@5&EM97,L(%-E$$P.SPO=&0^#0H\=&0@3L@ M1D].5"U325I%.B`X<'0G/B8C>$$P.SPO=&0^#0H\=&0@$$P.SPO=&0^#0H\=&0@$$P.SPO M=&0^#0H\=&0@$$P.SPO=&0^#0H\ M=&0@$$P.SPO=&0^#0H\=&0@$$P.SPO=&0^#0H\=&0@$$P.SPO=&0^ M#0H\=&0@$$P.SPO=&0^#0H\=&0@ M$$P.SPO=&0^#0H\+W1R/@T*/'1R('-T>6QE/3-$)T)! M0TM'4D]53D0M0T],3U(Z(')G8B@R,#0L,C4U+#(P-"D[(%9%4E1)0T%,+4%, M24=..B!B;W1T;VTG/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&IU6QE/3-$)T9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O M;6%N+"!4:6UE$$P.SPO=&0^#0H\=&0@6QE/3-$)U1% M6%0M04Q)1TXZ(')I9VAT.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@ M5&EM97,L(%-E6QE/3-$)U1%6%0M04Q)1TXZ(&IU#L@1D].5#H@,3!P="!4:6UE6QE/3-$)U1%6%0M04Q) M1TXZ(&IU#L@1D].5#H@,3!P="!4:6UE M6QE/3-$)T9/3E0M4TE:13H@.'!T)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE M/3-$)U1%6%0M04Q)1TXZ(&QE9G0[($9/3E0M4TE:13H@.'!T)SXF(WA!,#L\ M+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT.R!&3TY4+5-) M6D4Z(#AP="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=. M.B!L969T.R!&3TY4+5-)6D4Z(#AP="<^)B-X03`[/"]T9#X-"CQT9"!S='EL M93TS1"=&3TY4+5-)6D4Z(#AP="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS M1"=415A4+4%,24=..B!L969T.R!&3TY4+5-)6D4Z(#AP="<^)B-X03`[/"]T M9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!R:6=H=#L@1D].5"U325I% M.B`X<'0G/B8C>$$P.SPO=&0^#0H\=&0@$$P.SPO=&0^#0H\=&0@$$P.SPO=&0^#0H\=&0@3L@34%21TE..B`P<'0@,'!X M.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E6QE/3-$)T9/3E0M4TE:13H@.'!T)SXF(WA!,#L\+V9O;G0^ M/"]P/@T*/'`@3L@34%21TE. M.B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L M(%-E6QE/3-$)T9/3E0M4TE:13H@.'!T)SXF(WA! M,#L\+V9O;G0^/"]P/@T*/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=. M.B!L969T.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E M$$P.SPO=&0^#0H\+W1R/@T*/'1R('-T>6QE/3-$)T)!0TM' M4D]53D0M0T],3U(Z('=H:71E.R!615)424-!3"U!3$E'3CH@8F]T=&]M)SX- M"CQT9"!S='EL93TS1"=415A4+4%,24=..B!J=7-T:69Y.R!415A4+4E.1$5. M5#H@+3`N,3)I;CL@4$%$1$E.1RU,1494.B`P+C$R:6X[(%=)1%1(.B`T,"4[ M($9/3E0Z(#AP="!4:6UE6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT.R!724142#H@,3(E.R!&3TY4 M+5-)6D4Z(#AP="<^#0HQ,"PU,3,\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M M04Q)1TXZ(&QE9G0[(%=)1%1(.B`Q)3L@1D].5"U325I%.B`X<'0G/B8C>$$P M.SPO=&0^#0H\=&0@6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT.R!724142#H@ M,3(E.R!&3TY4.B`X<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE6QE/3-$)U=)1%1(.B`Q M)3L@1D].5#H@.'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E$$P.SPO=&0^#0H\=&0@6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%=)1%1(.B`Q)3L@ M1D].5"U325I%.B`X<'0G/B8C>$$P.SPO=&0^#0H\=&0@3L@4$%$1$E.1RU"3U143TTZ(#%P=#L@1D]. M5"U325I%.B`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`N,3)I M;CL@4$%$1$E.1RU,1494.B`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`N-6EN.R!-05)'24XZ(#!P M="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE28C>#(P,3D[6QE/3-$)U1%6%0M04Q)1TXZ(&IU#L@1D].5#H@,3!P="!4:6UE3L@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S M($YE=R!2;VUA;BP@5&EM97,L(%-E6QE/3-$)U1%6%0M04Q)1TXZ(&IU M#L@1D].5#H@,3!P="!4:6UE#L@1D].5#H@,3!P="!4:6UE2!F;VQL;W=S(&$@9G)A;65W;W)K M(&9O2!A8V-E<'1E9"!A8V-O=6YT:6YG('!R:6YC:7!L97,L(&%N M9"!T:&4-"F1I3L@34%21TE..B`P<'0@,'!X.R!&3TY4 M.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E$$P M.R!4:&4@9F%I3L@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q M,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E$$P.SPO M<#X-"CQP('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&IU"`P<'0@,"XU:6X[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N M+"!4:6UE$$P.SPO<#X- M"CQP('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&IU"`P<'0@,"XU:6X[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4 M:6UE2P@2!T:&4@9G5L;"!T97)M(&]F('1H90T*87-S971S(&]R(&QI86)I;&ET M:65S+CPO<#X-"CQP('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&IU"`P<'0@,"XU:6X[($9/3E0Z(#$P<'0@5&EM97,@3F5W M(%)O;6%N+"!4:6UE3L@34%21TE..B`P<'0@,'!X M(#!P="`P+C5I;CL@1D].5#H@,3!P="!4:6UE#(P,3,[(%5N;V)S97)V86)L92!I;G!U M=',@=&AA="!A#L@1D].5#H@,3!P="!4:6UE#L@1D].5#H@,3!P="!4:6UE2!,979E;"`Q(&EN<'5T(&%P M<&QI8V%B;&4@=&\@=&AE($-O;7!A;GD@*'1H97)E(&%R90T*;F\@3&5V96P@ M,B!O#L@1D]. M5#H@,3!P="!4:6UE'!E;G-E$$P.SPO<#X-"CQP('-T M>6QE/3-$)TU!4D=)3CH@,'!T(#!P>#L@1D].5#H@,3!P="!4:6UE3L@5$585"U)3D1%3E0Z(#`N-6EN M.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N M+"!4:6UE#L@1D].5#H@,3!P="!4:6UE#L@1D].5#H@,3!P="!4:6UE#(P M,40[("@B05-5($YO+B`R,#$Q+3`T(BDL('=H:6-H(&%M96YD#(P,40[*2X-"D%352!.;RX@,C`Q,2TQ-"!C:&%N9V5S('1H92!W;W)D:6YG M('5S960@=&\@9&5S8W)I8F4@;6%N>0T*2X@5V4@861O<'1E9"!T:&ES(&=U:61A M;F-E(&%T('1H90T*8F5G:6YN:6YG(&]F(&]U3X-"CPO:'1M;#X- M"@T*+2TM+2TM/5].97AT4&%R=%\V8S'0O:'1M;#L@8VAA6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N M+"!4:6UE3L@=&5X M="UI;F1E;G0Z(#`N-6EN)SX-"DEN($IA;G5A2!A9W)E96UE;G0@<')O=FED960-"F9O2!P M86ED(&$@;6]N=&AL>2`F(W@R,#%#.VUA:6YT96YA;F-E)B-X,C`Q1#L-"F9E M92!O9B`P+C8E(&]F('1H92!O=71S=&%N9&EN9R!D86EL>2!L;V%N(&)A;&%N M8V4@*&%N(&5Q=6EV86QE;G0-"F%N;G5A;"!F964@;V8@-RXR)2DL(&%N9"!A M;B!A;FYU86P@8V]M;6ET;65N="!F964@;V8@,24@;V8@=&AE#0IA;6]U;G0@ M;V8@=&AE(&-R961I="!F86-I;&ET>2X@06UO=6YT2!A;&P@;V8@=&AE M($-O;7!A;GDF(W@R,#$Y.W,@87-S971S(&]T:&5R#0IT:&%N(')E86P@97-T M871E(&%N9"!A6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE M'0M86QI9VXZ(&IU'0M:6YD96YT.B`P+C5I;B<^#0HF(WA!,#L\+W`^#0H\<"!S='EL93TS M1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E2`R,#`X+"!T:&4@0V]M<&%N>2!E;G1E2`D."XQ(&UI;&QI;VXI+B!0=7)S=6%N="!T M;PT*=&AE(&YO=&4L('1H92!C;VUP86YY(&)O6%B;&4@:6X-"FUO;G1H;'D@:6YS=&%L;&UE;G1S(&]F M('!R:6YC:7!A;"!A;F0@:6YT97)E2!A;6]R=&EZ960- M"F)A65A2!T:&4@;&%N9"!A;F0-"F)U:6QD:6YG+CPO<#X-"CQP('-T M>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE'0M86QI9VXZ(&IU'0M M:6YD96YT.B`P+C5I;B<^#0HF(WA!,#L\+W`^#0H\<"!S='EL93TS1"=F;VYT M.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E2!E;G1E2!A($1E960@;V8@5')U6%B;&4@;VX@2G5N92`Q,BP@,C`Q M.2X@5&AE#0IN;W1E(&ES('-E8W5R960@8GD@=&AE('!R;W!E6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE M'0M86QI9VXZ(&IU3L@=&5X="UI;F1E;G0Z(#`N-6EN)SX-"DEN($YO=F5M M8F5R(#(P,3`L('1H92!#;VUP86YY(&-O;G9E6%B;&4@:6YT;R!A(&YO=&4@ M2!A(&QI96X@;V8@86QL('1H90T*0V]M<&%N>28C>#(P,3D[ M2!I;G-T86QL;65N=',@;V8@)#(P M+#`P,"!P;'5S#0II;G1E7!E.B!T97AT+VAT;6P[(&-H M87)S970](G5S+6%S8VEI(@T*#0H\:'1M;#X-"B`@/&AE860^#0H@("`@/$U% M5$$@:'1T<"UE<75I=CTS1$-O;G1E;G0M5'EP92!C;VYT96YT/3-$)W1E>'0O M:'1M;#L@8VAA$$P.SPO<#X-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@ M3F5W(%)O;6%N+"!4:6UE'0M M86QI9VXZ(&IU'0M:6YD96YT.B`P+C5I;B<^#0H\9F]N="!S M='EL93TS1"=F;VYT+7=E:6=H=#H@;F]R;6%L)SY);B!-87)C:"`R,#`V+"!T M:&4@0V]M<&%N>0T*96YT97)E9"!I;G1O(&$@2`D,30N,"!M:6QL:6]N(')E2P@=&AE($-O;7!A;GD@65A0T*)#$S M+C@@;6EL;&EO;BD@=V5R92!U2!O9F8@=&AE(&UO2!D97!O6QE/3-$)V9O;G0Z(#$P<'0@ M5&EM97,@3F5W(%)O;6%N+"!4:6UE'0M86QI9VXZ(&IU'0M:6YD96YT.B`P+C5I;B<^#0HF M(WA!,#L\+W`^#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2 M;VUA;BP@5&EM97,L(%-E65A6UE;G1S(&9O M65A3L@=&5X="UI;F1E;G0Z(#`N-6EN)SX- M"B8C>$$P.SPO<#X-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W M(%)O;6%N+"!4:6UE'0M86QI M9VXZ(&IU'0M:6YD96YT.B`P+C5I;B<^#0I);B!*=6YE(#(P M,3$L('1H92!#;VUP86YY(&5N=&5R960@:6YT;R!A(&QE87-E(&%M96YD;65N M="!W:71H#0IR97-P96-T('1O('1H92!#;VUP86YY)B-X,C`Q.3MS($UE9&EA M($-E;G1E2X@5&AE(&%M96YD;65N=`T*<')O=FED97,@=&AA M="!T:&4@;&%N9&QO&5D(&%S28C>#(P,3D[2!A M<'!R;WAI;6%T96QY#0HD,30L,#`P(&]N($IU;'D@,2P@,C`Q,2P@86YD(&)Y M(&%N(&%D9&ET:6]N86P@)#$S+#`P,"!T;PT*87!P2`D,C2!T:&4@;&%N9&QO'0M86QI9VXZ(&QE9G0G/@T*)B-X03`[/"]P/@T* M/'`@'0M86QI9VXZ(&QE9G0G/@T*/"]P/@T*/'`@'0M86QI9VXZ(&QE9G0G M/@T*)B-X03`[/"]P/@T*/'`@3L@=&5X="UI;F1E;G0Z(#`N-6EN)SX-"E1H92!#;VUP M86YY('9A8V%T960@;VYE(&]F(&ET'!I2!O<&5R871I;F<@97AP96YS M97,@8GD-"F%P<')O>&EM871E;'D@)#$P,"PP,#`N(%1O=&%L(&%N;G5A;"!S M879I;F=S(&)E9VEN;FEN9R!I;B!-87)C:`T*,C`Q,B!A2`D,2XR(&UI;&QI;VXN/"]P/@T*/'`@2<^#0H\9F]N M="!S='EL93TS1"=F;VYT+7=E:6=H=#H@;F]R;6%L)SXF(WA!,#L\+V9O;G0^ M/"]P/@T*/'`@6QE/3-$)W9E6QE/3-$)V9O;G0M6QE/3-$)V9O;G0M$$P.SPO=&0^#0H\=&0@F4Z(#$P<'0[('1E>'0M:6YD96YT.B`P+CEP=#L@<&%D9&EN9RUL969T M.B`P)SX-"DQA;F0\+W1D/@T*/'1D('-T>6QE/3-$)W=I9'1H.B`Q)3L@9F]N M="US:7IE.B`Q,'!T)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)W=I9'1H M.B`Q)3L@9F]N="US:7IE.B`Q,'!T.R!T97AT+6%L:6=N.B!L969T)SXD/"]T M9#X-"CQT9"!S='EL93TS1"=W:61T:#H@,CF4Z(#$P<'0[ M('1E>'0M86QI9VXZ(')I9VAT)SX-"C,L.3@U+#`P,#PO=&0^#0H\=&0@F4Z(#$P<'0[('1E>'0M86QI9VXZ M(&QE9G0G/@T*)B-X03`[/"]T9#X-"CPO='(^#0H\='(@6QE/3-$)V9O;G0M$$P.SPO=&0^#0H\=&0@ M6QE/3-$)V9O;G0MF4Z(#$P<'0[('1E>'0M86QI9VXZ(&QE9G0[('1E M>'0M:6YD96YT.B`P+CEP=#L@<&%D9&EN9RUL969T.B`P)SX-"DUA8VAI;F5R M>2!A;F0@97%U:7!M96YT/"]T9#X-"CQT9"!S='EL93TS1"=F;VYT+7-I>F4Z M(#$P<'0G/B8C>$$P.SPO=&0^#0H\=&0@6QE M/3-$)V9O;G0M6QE/3-$)V9O;G0M6QE/3-$)V9O;G0M'0M86QI9VXZ M(')I9VAT)SXV+#DR,2PP,#`\+W1D/@T*/'1D('-T>6QE/3-$)V9O;G0M6QE/3-$)V9O;G0M'0M86QI M9VXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0@'0M86QI9VXZ(&QE9G0G M/B8C>$$P.SPO=&0^#0H\+W1R/@T*/'1R('-T>6QE/3-$)W9E'0M86QI9VXZ(&QE9G0[('1E M>'0M:6YD96YT.B`P+CEP=#L@<&%D9&EN9RUL969T.B`P)SX-"D5Q=6EP;65N M="!U;F1E$$P.SPO=&0^#0H\=&0@6QE/3-$)V9O;G0M6QE/3-$)V9O;G0M6QE/3-$)V9O;G0M'0M86QI9VXZ(&QE M9G0G/B8C>$$P.SPO=&0^#0H\=&0@F4Z(#$P<'0[('1E>'0M86QI9VXZ(&QE9G0G/B8C>$$P M.SPO=&0^#0H\+W1R/@T*/'1R('-T>6QE/3-$)W9E6QE/3-$)V)O$$P.SPO=&0^#0H\=&0@F4Z(#$P<'0[('1E M>'0M86QI9VXZ(')I9VAT)SX-"B@U,"PY,CF4Z(#$P<'0[('1E M>'0M86QI9VXZ(&QE9G0G/@T**3PO=&0^#0H\+W1R/@T*/'1R('-T>6QE/3-$ M)W9E6QE/3-$)V9O;G0M3L@<&%D9&EN9RUB;W1T;VTZ(#(N-7!T M.R!P861D:6YG+6QE9G0Z(#`G/@T*)B-X03`[)B-X03`[)B-X03`[)B-X03`[ M)B-X03`[)B-X03`[4')O<&5R='D@86YD(&5Q=6EP;65N="P-"FYE=#PO=&0^ M#0H\=&0@$$P.SPO=&0^#0H\=&0@F4Z(#$P<'0[('1E M>'0M86QI9VXZ(&QE9G0G/@T*)#PO=&0^#0H\=&0@F4Z(#$P<'0[ M('1E>'0M86QI9VXZ(')I9VAT)SX-"C$X+#`U-2PP,#`\+W1D/@T*/'1D('-T M>6QE/3-$)W!A9&1I;F$$P.SPO=&0^#0H\+W1R/@T*/"]T M86)L93X-"CPO9&EV/CQS<&%N/CPO7!E.B!T97AT+VAT;6P[(&-H87)S970](G5S+6%S8VEI M(@T*#0H\:'1M;#X-"B`@/&AE860^#0H@("`@/$U%5$$@:'1T<"UE<75I=CTS M1$-O;G1E;G0M5'EP92!C;VYT96YT/3-$)W1E>'0O:'1M;#L@8VAA7!E/3-$=&5X="]J879A'0^/&1I=B!S='EL93TS M1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE M'0M86QI9VXZ(&IU$$P.SPO<#X-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@ M5&EM97,@3F5W(%)O;6%N+"!4:6UE'0M86QI9VXZ(&IU'0M:6YD96YT.B`P+C5I;B<^#0I/ M;B!/8W1O8F5R(#8L(#(P,#DL($1'($9A2!V:6]L871E M9"!C97)T86EN('!R;W9I2`D-#$R+#4P,"!R96QA=&5D('1O('1H870@<&]R=&EO;B!O9B!T:&4@ M=')A;G-A8W1I;VX[#0HH:6DI('1H92!#;VUP86YY('9I;VQA=&5D('1H92!N M;VYC;VUP971I=&EO;B!A9W)E96UE;G0@8F5T=V5E;B!$1T9##0IA;F0@=&AE M($-O;7!A;GD@8GD@9&ES=')I8G5T:6YG(&%D=F5R=&ES:6YG(&-O;G1E;G0@ M869T97(@=&AE#0IT#(P,3D[('!H>7-I8V%L(&5L96UE;G1S(&%T#0IT:&4@0V]M<&%N>28C>#(P M,3D[2!M=7-T(')E='5R;B!A;&P@;V8@1$=&0R8C>#(P M,3D[3L@=&5X="UI M;F1E;G0Z(#`N-6EN)SX-"B8C>$$P.SPO<#X-"CQP('-T>6QE/3-$)V9O;G0Z M(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE'0M86QI9VXZ(&IU'0M:6YD96YT.B`P+C5I M;B<^#0I);B!397!T96UB97(@,C`Q,"P@82!S971T;&5M96YT(&)E='=E96X@ M=&AE('!A2!W:6QL(&)E('-U8FIE8W0@=&\@82!P97)M86YE;G0-"FEN:G5N M8W1I;VX@*'5N=&EL($%U9W5S="`Q,RP@,C`Q,BD@9G)O;2!C;VUP971I;F<@ M:6X@=&AE(&-O;6UE2`D,"XY(&UI;&QI;VXL("@S*0T*=&AE($-O;7!A;GD@ M=VEL;"!N;W0@8F4@96YT:71L960@=&\@)#0Q,BPU,#`@*')E;&%T:6YG('1O M('1H90T*=V]R:VEN9R!C87!I=&%L(')E8V]N8VEL:6%T:6]N*2P@*#0I('1H M92!#;VUP86YY('=I;&P@:7-S=64@,C4P+#`P,`T*"UM;VYT:"!A;FYI=F5R2!D871E(&]F('1H92!A9W)E96UE;G0N/"]P/@T*/'`@3L@=&5X="UI;F1E;G0Z(#`N M-6EN)SX-"B8C>$$P.SPO<#X-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM M97,@3F5W(%)O;6%N+"!4:6UE'0M86QI9VXZ(&IU'0M:6YD96YT.B`P+C5I;B<^#0I);B!C M;VYN96-T:6]N('=I=&@@=&AE('-E='1L96UE;G0L('1H92!#;VUP86YY(&EN M9&5M;FEF:65D(&ET&5C=71I=F4@ M3V9F:6-E&5C=71I=F4@3V9F:6-E2!F;W(@)#4P,"PP,#`N M($EN#0I!<')I;"`R,#$Q+"!T:&4@0VAI968@17AE8W5T:79E($]F9FEC97(@ M<'5R8VAA&5C=71I=F4@3V9F:6-E0T*8V%N8V5L960@=&AE('-H87)E'!E;G-E('=A3L@=&5X="UI;F1E;G0Z(#`N-6EN M)SX-"DEN($YO=F5M8F5R(#(P,3`L($1'1D,@9FEL960@86X@/&D^97@@<&%R M=&4\+VD^(&%P<&QI8V%T:6]N(&9O<@T*96YF;W)C96UE;G0@;V8@=&AE('-E M='1L96UE;G0@86=R965M96YT(&%N9"!R96QA=&5D('-T:7!U;&%T960-"FEN M:G5N8W1I;VX@86QL96=I;F<@=&AA="!T:&4@0V]M<&%N>2!V:6]L871E9"!T M:&4@=&5R;7,@=&AE2!T;R!T:&4@52Y3+@T*071T;W)N97DF M(W@R,#$Y.W,@3V9F:6-E+B!);B!397!T96UB97(@,C`Q,2P@=&AE($-O=7)T M(&1E;FEE9"!T:&4-"CQI/F5X('!A$$P.SPO<#X-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@ M3F5W(%)O;6%N+"!4:6UE'0M M86QI9VXZ(&IU'0M:6YD96YT.B`P+C5I;B<^#0I&3X-"CPO:'1M;#X-"@T*+2TM M+2TM/5].97AT4&%R=%\V8S'0O:'1M;#L@8VAA7!E(&-O;G1E;G0],T0G=&5X="]H=&UL.R!C:&%R M6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4 M:6UE'0M86QI9VXZ(&IU6QE/3-$)V9O;G0Z(#$P M<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE'0M86QI9VXZ(&IU'0M:6YD96YT.B`P+C5I;B<^ M#0I4:&4@0V]M<&%N>2!R979I97=E9"!I=',@05-#(#6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE$$P.SPO<#X-"CQP('-T>6QE/3-$)V9O;G0Z M(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O M;6%N+"!4:6UE$$P.SPO<#X-"CQP M('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE'0M86QI9VXZ(&IU'0M:6YD96YT.B`P+C5I;B<^#0I!"!B96YE9FET('=AF%B:6QI='D@;V8-"G-U8V@@ M8F5N969I="!W87,@;F]T(&-O;G-I9&5R960@=&\@8F4@;6]R92!L:6ME;'D@ M=&AA;B!N;W0N)B-X03`[#0I!="!-87)C:"`S,2P@,C`Q,BP@=&AE($-O;7!A M;GD@:&%D(&$@9W)O2!H860@82!G2<^#0H\8CXF(WA!,#L\+V(^/"]P M/@T*/'`@3L@=&5X="UI;F1E;G0Z(#`N-6EN)SX-"E1H92!!4T,@<')E"!P;W-I=&EO M;@T*=&%K96X@;W(@97AP96-T960@=&\@8F4@=&%K96X@:6X@82!T87@@$$P.SPO<#X-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@ M5&EM97,@3F5W(%)O;6%N+"!4:6UE'0M86QI9VXZ(&IU'0M:6YD96YT.B`P+C5I;B<^#0I4 M:&4@0V]M<&%N>2!F:6QE&-E<'1I;VYS+`T*=&AE($-O;7!A M;GD@:7,@;F\@;&]N9V5R('-U8FIE8W0@=&\@52Y3+B!F961E2!T87@@875T M:&]R:71I97,@9F]R('EE87)S(&)E9F]R92`R,#`R+@T*5&AE($-O;7!A;GD@ M:&%S(&%N86QY>F5D(&ET2!W87,@;&%S="!A=61I=&5D(&)Y($YE=R!9;W)K('1A>&EN9PT* M875T:&]R:71I97,@9F]R('1H92!Y96%R3L@=&5X="UI;F1E;G0Z(#`N-6EN)SX-"E1H92!#;VUP86YY('=A2!T:&4@25)3(&EN(%-E<'1E;6)E6QE/3-$)V9O;G0Z(#$P M<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE'0M86QI9VXZ(&IU3L@=&5X="UI M;F1E;G0Z(#`N-6EN)SX-"D1U"!R969U;F0@;V8-"F%P<')O>&EM M871E;'D@)#`N-"!M:6QL:6]N(')E;&%T960@=&\@"!Y96%R#0HR,#`U+B!);B!*=6QY(#(P,3`L('1H92!#;VUP86YY(')E M8V5I=F5D(&$@65A6QE/3-$)V9O;G0Z(#$P<'0@5&EM M97,@3F5W(%)O;6%N+"!4:6UE'0M86QI9VXZ(&IU3L@=&5X="UI;F1E;G0Z M(#`N-6EN)SX-"E1H92!#;VUP86YY('=A XML 15 R8.htm IDEA: XBRL DOCUMENT

PROPERTY AND EQUIPMENT

9 Months Ended

Mar. 31, 2012

PROPERTY AND EQUIPMENT

NOTE 3- PROPERTY AND EQUIPMENT

Property and equipment consist of the following as of March 31, 2012:


Land	$	3,985,000
Buildings		9,268,000
Machinery and equipment		37,467,000
Leasehold improvements		6,921,000
Computer equipment		7,742,000
Equipment under capital lease		856,000
Office equipment, CIP		2,743,000
Less accumulated depreciation and amortization		(50,927,000	)
Property and equipment, net	$	18,055,000

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

+ References+ Details

ZIP 16 0001144204-12-027904-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0001144204-12-027904-xbrl.zip M4$L#!!0````(`%MCJT"1YG=K160``#',`P`1`!P`<'1S>"TR,#$R,#,S,2YX M;6Q55`D``\T]K4_-/:U/=7@+``$$)0X```0Y`0``[%WK4^/&EO].%?]#KS$W1F8`+DWV2^4++5-)[+DJP>/_/5[3DLVEBS;,EA&#*Y* M98PMM<[OO/OT4?=/_WP<.>2>^@'SW)]KTI%8(]2U/)NYPY]K42"8@<58C02A MZ=JFX[GTY]H3#6K__+2_]]-_"0+I=CZWKLBEZS"7DG/A*PU]]DA^MZA#?3.$ MKUR\U:*DXUG1B+IAG?3-@-K$<\GO9U=?B'PD$7(7AN.3X^.'AX6-SHF@C!YV+]B.D\(:1Q)ZI$Q\].5%[GV"=$-W59%21(D2Z>"VNPW!%/N M:X)E&V)?;^B*J/9G[FK[U`QA1&(#K2=$%B59$#5!-&YDY4253Q3Y_V:O]L9/ M/AO>A>3`.H2+X4JX0TKQH`Z(K2/2R1\14.MH MZ-T?)S\>(SL%41(4:7*;35G^+?!#SN7,O:=!F']'_%O.3:[GNM$HGP%VZ!^' M3V-Z#!<)_DO.34BVG>%R(M#&$J=X(D_%P+V&CLH&+P[TS?\CV'%E-N?L>=3P<_UY"9PH1G1X^! M_0+=+VY6QS&LA/4G;3.X:[DV_M/]3\3N30=<6]`*VZ;O/X'O_)?I1)18GAO2 MQ_`*R:6><_NMVU050Q,%09(E4?A5%$7Y]OJFHE@0R"TXX,AE\3V)X=W^ M=MVI$9M:;&0Z(%M!J1%FP\_VK2SK1O-6EWMGBM'3!%W5FH*JRFWAK-=2A9ZF MZHK>4L2SGGHKX<,4M?9)UAKPX)^.U\(2PP>C.^FZ(0N?VMYHY+G7H6?]=7UG M^C2XC$(>)."&-7'+<[@#/N(LY/.+7@9S2]5EI:F="6>&W!#4-L`U6IHNB*V6 MT8.?VAU#0<=L5%7,#8HVJI%`70)%Q3,_Q]\+[ M9OHO29F6`KT=4_]VDDK`I.7$99#KA1`G7@9::%$Z>GW<\&\W& MR=^(DD'\EJ5&-H)GJ$YC.H=YN1MZ_A/H7M7P`!Q%3=O,++GSPF'AB,^>8#X% M2,#]4]>"J+Y97!O0+=F8TZV9)*3""7$3$D19,8Q%^=.B/'@^"ZDP2,R"&YJZ M(HU:F/*_]=R\J+,P9F?F1:A?YM/CBUM1>.?Y[&]J5PHI!%]TB=F,:0GY>>&W MHID%3,IU16_FQ.#<5((GAN_#V4">*Z?3W,7$K];-,LQP$VF&.A<*DF3^QGS< M=.AZO5`@`#3G#&E*;?EEVO*UKO9)3=?QUJC03NW/A@#!/-=TO@%KSMVDB%(U MK*J((4!I9IQ'/O$9A([C/>`*4\_S.U[4#P>1,S^?J:C+5"&OE--:O!:>A9D; MJ`GW.'>>8U,_0'4)GRJ'7LF;MJU"LU34/IO;ATS?'=$/03>3`&.=Y%9RQ8DZMBYJ6B9"+ M`:P09$43ZN8TH"$-OIE/%8YU$@0[ M22,*\DC/`VM M.QH[WA.E5Y2O>51_24["FI*62<=6HHA!8Q?*M#3SV63NI7L-Z?GEX(J:3A>F M>V%E51NBJ.HC#J"L_JT1^IB;C70E+^Y%(4&XI87@\0]NCQ8I2LI@NH M+YAA;J(K1GHYW"*REI.NF#36;7?%E`\2NV*,/)!OTQ53.F#LBI$R1:"W;(LI M7\*XK*9DV_:VV!93ODBEVB>U(>F+LM[MM(R4#C-I&8$(5[&6D=*1-_C"\-NW MC"P%NMD5?+GDEI'2909NMJ%DV@]+;ADIWY5BRXBF9#H42FP9V:[";;QEI'PE MVV[+2.EX`(XFI6UF&RTC*W!M0+=*:ADI/[7`Z;TDZPMSBRWT4?E MXUOJHRA?ZVJ?%"W[*LD;-5*4/['DC122G$EKW[J1HGS<*.3T9+HZC13EHU?R M)C/;;J0H/_4LHY&B?.'@\IFJI^NRVVFD*#<)JT0C1>GBX\MCDI9]RVG[C13E M"O.M&BG*#_^HIIHA-A;YQDTW4I1?NN(+E\VW:*0H'QLV4LC9%[FVTTA1OBKR MECHU\\[OUALIRA=BDT>&]*SBK1LIRD==T4:*\M4:_9&6O*;TBD:*S[X7!!!9 M!^NLUX&O6&O3%#&#L2.+[8ZF2T*KIS0%M=,]$UI&1Q/2Z-8D1?F?M7C@LS?+S"RJ6M10)G, MB(98,(&K[YE-[;.GWP+DVSG?3HNYPY85LOLU4\"M,0+5H2&G(U)Q0/.K3@%? MK(FUYAS`0FYT'GU!;R%(OQ[@78]4M%3MCM&:CB*7F`,ID%)!_?($@?>EV M6##V`EX$O1RLVY&PM"+N:XMU%*Z=P.J['I2-$/NF9"6G2GO:-^OSR#G.B<)UZ5A%\J9:8 M9ZCR"Q4$H`KBD2S/3$CS4>09%5<-7#I9JSZY-;>Q*-?-4)Y%%FMXTG97.9/& M=4DI:\\IDN>"WK.E5@X-3T[F'%2*YFP>$E#3MW"9L@-!WO%X1EY58?'E-SF3 MFBP!D-V39>P#!=S3P&>'X@>XKS7R_)#]75'GB5NH-C.@BR#)S"_-)QY`;KR6 M!:'%I^]I>JGP5X33T\O">);'%`A!S*IT1-%61A2.(5.%GU&$RP$X--,=,IB$ M5#4EQ<0JTTNP%$&F-6F2H%?8,S=`C(J4:;?*(3RGZ0H+F3`MB:\IW36_5(0: M?^UVONLJC_JB=8"U%UBVIJ^8YQF9=I^5./)EZZ65H'*:B^L-!EN$T/&W>U=-> M18XWJUK5@9B/)\V)?U,\3X3:K7L0_9!>1*,^]2\'&;$6G%7A*>E&N9JF5GGY]8,`;4@4RM=1'VV@SR`8'=-_7MF M5;`O`<6IJWKVM>U9F@NE9,^+^55-TR%2JQE/5@S+3(_GK,@7[-Q2/>2*R!O. MG_L["Z"8P.L^]D50_WY)V(!'5!',]'Y$W..NVQP#*= M>'+?@^_6@JJE-D-+6ZAFG+7;[:Z@:&U)3>&L(;>$7E=M&&);;K6ZS7B3 MX5^5^,B[A10]$WWCFQAPKI]&?6^-UQN7$EKLD#YL9?3V5X/"^79Y?W!PI#7'V(,$T3<\4MX#A-F>Z8ZZ5F+Q>\D#J M`"R`QF2F",ERM,<P,7P!$X;(L[(I1?,DWSR--Z6\!>GDKP<+OZ;I1#+FB8N] M0]>U.WB`\U:IE&-N"J(B*%*:UA15625NPP6^Z9R[-GW\7[IE-0:B83Q),?2F MT4R=,)JFZIGHY!609S79++,+THUS=$%L"$KBS191M9&7-=+DEI*2*B@)0Y'2 M98>%+VML_`6']2"^\!#?N/U@565EY=L-\Z\AXSRD`Z)WO"#RZ0U@/G/67!%< MHI)*0SI3NIHD&+($]J\U%:$E@W*V>DT9`';$KM:.O=2/3GAJLWL2A$]X*/0` M'G]")'$KWOO*1F9_I"Y M)P0O%4\)`A9,2&GAJS^C(&2#IYGQ^_CQXO*F2W2!7/_2NNK^4##SC=_Z M'_C>B/Q/Y%*BB'6"TP,2>N0KMJ`11>+?R.2`N3"V%P6F:P>')Q]+&"\A)):+ M11UG;-J8CW.GC'\'8].:_+TVL7W/!T$*%LC?'`?TA$P^G9('9H=W)\30_C'! M)#ATD%$>3IH_>>X]A9P1@M4$;]\+0V\T>ZD]2Z(0L+]I3.B9\=B%>#-Y4HP"Z!R'A9X&+`29N+RA[65/G@5N45R$ MF$IJ0LR98T(P`))(X#G,+LW=QH_/:FSAW[QY!3$#F(>^E[DVI@&>_X)^?<="VENUIKDQ(K\CR1AGI$6%&/LZX=Z MEKOP)M14F2/Z,K_[,5FR4Y+M*DF)>>UZ'C&5O.>[2=R?@?'%KG4XLF@^6$A& MRZ=O&\Z(7O6PV?BZS(@63I8V!F,G@9T$WEX"DK@LP]S)X/N50?7S_6FEYIJ. M0XKO!A0IU[RCG&5E3>9CIG*26)6#%NPAB++\JMI6E8X>4?L,.H-7?D0 M.?\+VRW>B1S?F*PJT+!CS8XU[XTUU4\?=^7BCZG_DOCZ'.E[X\E.2[:L)95) M'G<%XUVY!G00V)0%M6>UM)X+O5@35S_>GY>(.M9)JL?36U>)E/4$?KTB\ M`6Y(8EV1OH_\?@/L6;'FH_` MFNIGAKM*\,?4_\;WD3;OE.3]*DEE4L>"=6#'"X)=^657@]Q)8">!)1(X4.1F M64)8HQBQXWWIO*]^=C^M^Z;WN7K7):U=T3=;]&TNT_D/Q0TL^JJ&_FI2WGO1 M5VNJ6\O<#-_V^P>_YHYC:SH+I*%3C&(3]5^\2D&V]E^4];XL9%-K<@Q M!CF(LGN03@X2CW?JG!P`4[F=5?'`\.P.^/FD%SU)\HI:E-VO>V;#EO98E6N? M=%%?LNB`W]?W)Q??.Y>M,^[U]S%\LOYIVUM"IH.!F^X+^RE2RZMT,,> MA@9FLZ)1)YW/I&<&8?O.=%WJU`D8X1$Y2&@&_6F?=C[WVL]_=TX/R8`YU-[? M,XGEF&Q$^,:OE/P&ID1M`F]4.^7>V=&?+QDFWJR3WS^'YMQ(+)@0D/&T\.BPCV][P!,8<^I=Q^ MR-"#"83+1_%--S"M^-0//SX`"C>MQ8%;T1!8122%\Z"YOQ>8X")AI)FG/@,V M3@-BVGQB$N#(-D?0CWBEOQ\%>+!2`$/O[R&CC@C^/T:#3T0P!^PP!OXI4]A4.QHP5LFU'@/=']OELP?5$FN0Q!.LP_P M\',$8+B$8S-/P&DDRZ"=B@^_=#TW(3TF:"(ZTJ?A`Z4N)PDTR[538_2?9MB. MH&?DP1TBC&`.(#KB78!BAB+@/E)D1W3"D9B@&0!IHN#I$ZHXLP`N*`OH7'(J M"0DFQP4]4\_9XE-^*+N=B`*>9G%G'C_YWHR<$$5-+%`^B.;I3>#(^.XIP)DO MH4ZBS&:8DD=:([]2FYG`\BG MF)/V@9)\F'4KB4^'+T!3+5`!\))C\!*SEC=U?@=F`"G3`/ZP#^OD0$X[`"1N M?\^F#KM'`XTU::IB4W5_N&/678P$O!\W%O18\)\;X>/]R;%`J++\;J3!GV2` M&`C&8*6/#)76`?`;13/DG!B#S?U>@?<[?%8 MXL4">/#\O[C'B?>,A6>#@5O,8=R;(')U'CEA00`>0-;$.J1FP$5^_!R2:_$= MET$-,:V;L(4;K7:84@,^3&SIS,5`,T!#'T5AQ(EP,%<.^)W\2O"4(Q;PC=Z9 MC[P$\\23J^-HC<.%=_M[8Y_^&=G@QZ81*\"P@WEVXJOYI!@)"RB,BM\DM$_X MD>N8VG>,#DCWD5H1?^CE8``/\3&,D1^`K\@%XKGQ"`%[%(`'X1U*&=4CB)U' M.`W'4Q^[- MN&H'*(([+W+L)#331_0'`>6A;*HBXRC.V:;*S`GX__:^M#EM+6GX.U7\!Y7? MW+>2*B!(8KU+JC"V,YY);#^Q,_>9]TM*@+`U5TB,%CN>7__V_?:17@+%!ZS*8?%.E$`*W_,@-%/",X+\EC`'Q%Z8`V\AP"PWXN M+8)?>3"$1IZ6$"'F:4F)=B(I`Q7PM(N%SM@#98S%Q(M?.0Z]_@,5FI">9@># M08]42G+UDC+I0DVL$+VL6)A^VPQ,4N*+:UM@&,`%055;+/0Q4VX+O<%/('[T MSR$-NU&>30.<6`>M6:I#:HE)B0SDCI/5,\H36)5W:ETC:KVVS.5*^J\@S$GX M$<0-%).AO428+/RI^9,L")DMV`]HCW\F39S(^,9`R&(K-#W!>K1'O&^XU:""RGS`;CYZ.J"/T2! MEL?^K/!Y@2>``VA27^CY9"6DIXNFR\8A-_*$'V>>I7C::VD?71O^) M7-=G\,?!I8V"*`'%F$*^',MP#\9[:X^FC@?42AQ/# MJ.>%3R$;(@[,Q5X.C\U#* MT8,%`X/^(T>9$/:`;H!?H\52>H9OT>$!_$%))'*F4:C=%'(47) MY.,(?"WX;0#6V$9'YSH$*_3D2E!0H9C*C0OPX!Q3MG%?74",M@>(\C\5BMY3 MST#4U@]]GW5'$!^,4[L0OA@.8K7?(DGT>$]-V3&6%M/PLZ#@AQB*HLL$EH MHX'P1#GTJM&-(RO\`(:4?NC`)B@<@XUI_J,OO+2H[*%8H/E>^&,T7N@J@WX0 MIA$7C`@/((+*Q-38$_KV(V,0O1&#[]5?J4R\\0X72)-04@[3C_V_(HY1#!YQ M[>,VDW=P$PHRF@C&/^*@H>2Y*JB)8!G M/?0:8-UD_)+:Z!ZZ[)Z)P"YX_2';>/%6$H'G,2=#HJ3J6!SP8L[7-(`=Y'[@ MKOGA"):W_HMLW3-M]RG;,7.Y<84BA1_S3>QZZ@GE3WIFFK<%D7WE`2)8S,V! MFK7D$0&&V\[`\`9*XO.!=4\YKY'AHS?CW)P(E##3C[#O\E9:(C@)< MSZ=S),J-H4!%;YEQ0%!)T"'"G[-0\HV."?^E%!2\&SRTH"3P+2ET9`+6IZ0P MPAB!@++"J)GT.Z8C1>(Q`H]S)'W;0KE/)?N9/)BI)XH)"$L83TF[!DN9?,J% MT`)UP-F#CX>F$8"71BOX0M.#6D0MB".<_0K+E=CH=#Q"VDQDCC`/8&#NDC*, M@AZ2]K@M@"-L&V62,=EH_!O4(1E&"OO%,!G4?XR>S%7S+XN%D4ML,[;Z!*X? M`%8N`XP,/3:)J^.-/61]MXH@3QBW!=(\QPQZ['F@A.$$R6+A[)]G?H+'[@W$ M8F"!X<-(A4^G0)^B4$41#1Z5@AQALA^=!Y_]%/Z[.(&DE#R(WLA@7^01WHMC MS6,Q+Q92Q\>=RZ_ITV/_&42*3HT-12UIU6I9+34PT_2?$'7\T,6C4>;-9V#G M4PBCC$=R]<9&GST(Z7G_A2@@_/A8IX_C,_Y M0&[)UP,;@NDU#[@>?4(;71,B&C`HOG,$)@@^0XOM!)06B-*$P`(3>]''C`)F M,)5PC!16.5V&-2:H96Q3Q)]T/"./`14C4))@B1>A\P+T3[^!@D?67`)6=$:\ M1W9&*"EB.65"&@-*<%CB"VF>A7G5$KK4'AX!AHY0'8@N9#O>A5JWD;*B4_I2C(,!,G"T(RSU"X)%OOM%#@8OAA?[&,] MP>N-%9Y+L[5&]RX?R-NJ_B)'IJV5[WCQF-[5"+5*L?RKS=C+`WN_GHIZW6S/ M)""BL'$^%`N*J;.<+=G(?+;D'24]OF*N@^X_]CSE(W]SCAF/]$=1^N/U2?9F M-N@*G:@]VY^U[DZM?R\*-?LV>\/,'`2_Y3FQRU[W8OY8Q_$NHEZ[I"X"1?`O)URBIS;<]UWB%9CSI?/(ZIOT-ML10]>,4PU??@]HB>WS< M@RSVH+9P/-QQ#[+9@[ULS[[M/G-:I3[?N'5=A\A*1]->(BG]0K:BEVW(6+2& M,G##GFVNOB6+O*--7Y..=VKM=;H^"?)G*]V'OPUM\`+7,7/';=C)-D`(4:T> M]R$/^]"H+DHD[&X?%K9GRLVI[K'^X%A_\'IO78=3,P'D.BHJXGESRGLL+OHP M'ZHW>]Q]K$?(^08=ZQ&.]0C',]]#/_,]6&H>>7/O>?-8CY";0\WW"\^?UH9N M46?F0R"7VEJ4RCR>GL^G7*-ZK#MX:=W!>[54KR[2U%N0TX,H-E#BQ`'\Q0\I M'G^O,K;BGQ,A^_$X<#[7-1:)['%2RBYIWZKM[#S\2/LEM*]7]2/M7TOGE!K5 M##E_OXH/%B6ACR=]\UA*JRX:1[31.=^1](M)WZ@?2?\ZI%?7LF''(H/=\+]> MVN$^++%F65<6Y+-U[I;+&.I9ES&L=V2U1JD"1C0WTQ$G'Q=O+@*XCV MUA+>4WRPZL'EQBCDEQS8`[M8T*NEC!`XGM$>S\'VEIH'>@Y6?\OG8-K2U2;N M1C86.FMO[8QB3?+I0+[L[C4?Q''%,1FX.(8MU9NO<2/IN`OI76@N//0^W@O# M%Z3NA1EQ0'7,CV=9VM4E/+<7878-R.PJ!:ID MP#?.855:X)(;8OO*-T($_W^&X]-HN-743-J)4HFQY^(@1WHI+CX+]QG#XI=/ M=4F/@3DS>\$.ATS7S[NU\V:KW.GB*/"&6BN?ZA?M\7>WF9?3+ M)/-=X90732DK7ZZO/BMWY]^^*F?GIW5P+M<'VL-%^8M08]?).-+I^I\HIGC0TDW_>HTEV M\%&K_@N-_J01+91.%D-:?&S9+:?&EY1X0BGW-+==0PP[,/NA9P7/"0CD"`H< MN2IF@)A^@'VZQQZ.G\+6W,K8#GU%^X6[B%/?;?&SH>W"4P!3O:+5?ZD0-5!+ M\^":U$@^P\).VS0)Q7Y.]'SO_C;"R50FCKXQD\W3`2*3!E)5*XU?Y"`=-PQH M8@,-IS8L6(F0ZQDVC7QY#W_'R<2/ADW-V7F>JB(6:E:T7SY$X]#$=_UHLI3\ MF2K?!L^/D+SRY6(_HG[M2H>^]E-0@=\G1S,G1LKA6``D/L_Z$+.(YX_@YO[0 M-,,%A\D`M)Z)XY)IN`\CX.',U&?B`AQ980)?#VC\&B><$^,&!=BV!7C2]!;+ M@8^(J7`&K!ZQ7,QHU0E&H[E`C.L\1IL8U2<$(?EN9-(13X(!]HK?6U(>W"?S M4QW/.]$JS_LL'R?LXMF*2^>D7\11*R>,)OB;6@E>*R;[\SFJE]LL$ MQRIIAJU56K]\`#:CJ3$3,XK2X@4$'(#VJ,2;&?'AE-8YSI=,*>_01LU=;2W4 MW#>>BW.&0I&L=`SG+^4]_A@4J,Y\)/T'`@KGN`832=5;-9$`UHH MM.Q!-%$2IZ[V<**2V^^'8XNU1A(\WT*N4MOM%KT=AS[@`5JT-`UY(":?&!3= MJD0F!CCK)O3\T,#!4BY/C$;(2W(:-H^C)WE$[FJ0,.&0!S&^&E:7*@C'ETF^ MQ_&1H.%X`A0PKA@?9MAB(HH0'QI*AM.=01^.T(?C24<(/0YD4?0JS5'%V?!L M<\"JH&A8CV:9!JQ&*WEBOFVSHOZ2F+=K#`.>.&$HCX9G$9ST4Y`W'O/^Y?+T M^AM+O8Y&YGT#11+%-)J6*^B)X?0'MJ8(ZSV.BQF`0XEC$1.*'9^1NQKOZ5'@ MT@+GF"AP[84"]TXOU1L\G/Q&;L)7US&?BX5)64P:5N7,1!,V5.X\'/DN1\!% M^PC?V+0W//@CVB':661^$#ODN:0CU/P%F.XG#A'"U4`HB2W%\*$$+#UG&'O[)25A/*+7.F(4U`=^F&/)ZH&PETA;2Y8 M(N%I304"\=A>G!DL9EVQGL&19;T@P:'XHD&(^"BUEC)/Z[[36%>C=DLX+0". M_@M-#D=78R3&P^+(\Y[)`R.M`6O<9YH[*_A4S"UA%L>7Q^Y%!!,@CW$\3_Q1 M-72C0&`:H))QWB,]:0UY`HHM`@(THX"&JC$:/CZ@"IQP`"V`/,9Q/#BGG%S, MJ1GB@B?8]R,?*"(RVJ3$/&7<8*5O&]:(736)[#M=UXE28IMH)&UB'192IC\[ ML#2_>2$I:&%`[+H?N#WTX1EBLD5,&4F2%6;?SDE0#:BQ,>."")GK)\MZ:IS1_?;\].P`SV00)M_X^3LCZ1%&EI M%Z=Z^Z)>;M4P*5+3NN73BTZM?%&OM?161Z^>7M1^J#\T]>237JN!NUZ-L5X= MH30A/L,&?7%]_]H!FHU=GV+1ZR&7%N4/=_WD4[F90GPA`FE<+ZGX&G^,\Z)Y M*G((M+F6\V?]4QSE9_+O[HR?IO_5O9O#@PC>/ M\!-6*3NCW-009:W:/:NWU'+G0@?"G9V?ECOMLU995<]:S7JM>:8VJC_T'VH5 M**ZP4;49NBD% M\A3/44+NS.0_+YTS;3;:A/1;#=JDZRX')G)HQEPQOH6 M*1[XNVWB7T`1=S@OD%-=6@,AU!K5%/*K8)+&_<9X)GMRYW;Z8&D\\T;$?C<0 MJ*(U0OLS)@\V=Q30P'O1U68]18+5$5IL8\`D6?U<6YCZ4@M#.*313'+"]1"4 MG.'<6Q">YM5!13\K+>"+,4AC&[GK.=;6C9-/:C4=?,P`>P(OC-6O7*6]:4;"%RJZND=G`O],K/4$3F5&Y%2R1VRZ/6I376)09I`8V)KO7O#$>P= M%U.Q&K_!$<3`\,SZ%Q8>[EB&?8O'_WUIG/UKQ7J"C:#Y*65-G?G_WM7[GRY_'R52%O2AY=79^<( M`*4M?U.V`5ZRR`8?+]]>_K_S1)'-7?(X758,/%CW#WP(2WD"3FS38;3A#1)? M*`/KWL(EZ>F\Q-"R1YSR3$P[YR("=_Q@^5CZ MR!'@:!SB.Y M2LK]!X;ER)<`#`.JKT1_D07($2G0*0I@XBUZI6/"?WTLQL#L*R992P+CDN)A MZ#\RX!.102XI>*2*<\@1J-`.9"8Y@@^X%@?%]S%#'/C)?+`@4#1R7L!8PL-U M.^23/-,V'RV?=@6@!0*-1OCYT#2"$(>_PPJ^2/7B;/+`,RP;2)3",Y6#%GG< M/HZ#[R/U12D"9O4$/20I`"!`$8^I,!UKX[[_V_6*A>^5VXHR`L(8XF8*O*[+ MZ`G03?XI`$5\,[;Z!*T?`%:NS]R!27LP&`-10<);F]X?4.,NS7?W1>F);?O* MV3_/Q`I,-1S%[@.YP6?&H_:`Z.B'(V24X,%S0V!NW(")BC'/!&:Q@=-HXGUE M8>78*\CR\G.4S&!)[@B/(S=QGY7@R55Z(4@7%DKX7$KG*T//'2E#-_24L8N5 M$KRUQ`9\JLH-=5-[`2:.,VL5Y=SH/]"32OQ@L2!_@,=<(!']P',=K)O&_;;B MHD`Z_9"\XCU*P08&*1;Z0")P4CPJ":DH9\1[*$JNPT>N\A58EEB2)V@1!&8R M@O)!MDGI!,;85`;AV+;XX5(DF"R.I(:P.@@$#@^>C8&"^H0TIPE.TX#^)E6M MGU*DT7%.L3`"H@"9O6=!GPA63Q!*/T]96BH4_'RRLE@%5$&T951$Y;J"8 M/PT60$%RQ$`4+$0G*P8PA.LDB#TRGO'0:!C:H,ELKNK!'Y#N\-(5$4AUTYLH M[XJ5%^`7^GB\X@/S]06+TED[,%.$.5HBH.3\0]&W*>+/8Q:G$M93)&R+0L?5 MT@8I_H/[A!_)8ERT=1XP=K'P!-N'.^F'O9$5B$)=(ZISXT/2F>:@A!9IVA0` M)`GS#4;(Z0-T\.Z^ZXU=SL3C:3II&]+.D8P`_J"@=*LY#T`T;R``/]-$X M>7]AH#S_H+9OC(T>0XXG]LCQ,:M5E&NLG(G8VXIJ)\U!*5(F=BQ%TIYZF-D1 MSO\C%G_@02WJ3X:$.+4/_RD#N_*1I?)DD$D#`4?'(^VHD"8:D"-6+-R;KG"? M#)3.>W*O6!=&FQ!A94F+=Y2`N%Q@"'&78<\H%I"5'_(N3%2#9*,I"I']9;$% MR5#8ZWQX,/+2_`S4)E8*\3*5P2/5.]'5N@SL"\8CX]_BY/S\DJA5$Q)!TQ(YL*6"9*-M4IJLVL
`\K8F?Y5A$Z9$*!_=QA&?X' M>XG%KTECJO`&H-F\=4/<&4?I&K8%'.U8AJCA$+]AOX,JH"$`&Y$ML,!U<0*L MJ$H$>^^3;^]N#FM,7I35](Z3:9"P&MNX5X#B)'DA>#^LM,.@T`PN5+%JO M`+VJ)^!&JGH<"*9F$4SSL)0*PP:9<4B38YG)A$O;1^L`6MQ3PC&^4^5*&LQ9 M81QC]MEYXI)^:2?0/4K`)=]$'G=EQI47#EX%J*ASO$=VRDH8(`%9RX0T:"!@ M44>XC#^!8N`)]<%!&UH>ECZ")QBYJZQJX/U@+66%FVUX]^8$Z,I[`]X\!D^= M37T-]JX)"++^8R$'M98FW8>C=*=@.97%\F36PSZZ,=(`3(IJ6NK1;_9-\R]R MZ\'L6P/0Q;"ULG[<":GP39J`F&N$%#R1(S\,/0XPP&,RC9'-94GX/'",=>^( M&J$AT(#BX@!]30F7FB+GWKF?6BS2N;+49Z\:L@UG]8( M=+"@=P)=]MK!^&$QH$]%BP2(.P8)93F,;6R)HA-C@'S$3[\7GAIE-X80G'LC MW$X/T?#(9XQ__"&*(H`,<>:3U?C0L-`@QN<5R7T0+#&`&`O>+Y**HMZ?KU+- MX!!\'(05GS?Q0H]C)#9C&4(/:IB0;I441)#4L"B:M@!I74>([Z5+Z**7$Y=\`U53J2*UXLX@NX7 M"/M'9=MZE5]&S.V;\(7L7P"+89K'\C[C@ER)6$7UU3Q6[C6,.:<>IBK9^IW08H M;Q9Q>NV-YQ*S&(HL4U#>X\GV!^4&W`VJ5WAU&#($4L5+5R?G,K3L;X]_)ZU8P'!J*4;*MY?[N[[':^2,(LZ/PWDWZ)T]C6.ETX&"D:2-=Z&5EGKYL$ M4O:76^M=R<9V?+2\Y5&)N\+\2-$W2]%M3XL\$C37!)W3=>NU5/E-Y^SL\NIS M^?3Z[N[ZJV@NEEY,_/O/\\O/?[M;OX^I,([R!;W)/FGS]G\Q`).;OJ1?Z^[1 M/"!"+FH)>"3DD2/?!D?.4=2GG>X_/G^[_GYUAO[^];?I1J>_*=M0YK^N:&P@ M^J4T'H2_W!L9CX1%B1PFVJ*D.]\/6&KG5JV!7=>TGT(L&/SYOY)*N]:KE94#3.OTA'[O*1;^G'1G M8E]&UD^22Y-L4YB.[JG>ADZKXOPS/!WELA=LE\SO_K)-!;7E187,RU6UV66'W?MT/<';YO#MU7?R-L2+.QT89L&;OC7BW:JPV%9[=[ MM>^:J=%:-`-[BY"^8CR_0HJ"%J/&+53\R<7V5,FU0W\[ MJPTX;O26-WK=(/BXT7NZT4>)?B,;O6XTO]L-R%O(OSLGZ3S*%PQ$#D&F"13S M)]^)D9@E4G34E6]@E[<4)Q[W M.,=[?/1NW\`FZXN*/%_5X9D[\/4M7#"?JH5#E4_#^ M'D39`+=S8C?)HAZSV``*/22:/D.K*GRK;?5;O[*/BLJ7S/GTASRR**]%[1N% M:^?'E[_EU=BI]7GYQ`T'6A_H`N!%+B$UQIMP"I78#RP63'FC,L:M9U(CDXDQ M-7B%'*D=^8O1W,#D81;=SZ:N74_R1K$!V)4CS-Y;%;.2;#;IAW@G.H$P/\BW MGKE)"_=(2>_`AXIR/9;M3(J%:$Z65JJU&R5-J\OM)WHD><`()EK;5.(\X!13 MS>`A0=OD9]2B)CZX4YZH[X#Y$QOP13/M+.IR`T\G^FV(UV`K)_S)PDX%]`;Z MG;S++5\'(.*-\,DMCV<0)7??3VP_[67$X]CQT)_#")8G>';.OLJI8)$,SF9K MIN;4#A`GT:2A8@%%5"W5:]52M5VC+QIUM=1HUDM*:JC2>EHH1_=\MP;*!39* M^*=A0QCWU32P^Q;=QW\UN')F(*3JDC>1#9`,T/I/KO<7*571KX(;4XZ(@-3D M%JA:+#P267E`UHQ&'C-;?B04XB#JIDWB1BTM>,E18J?8%L1016UL#.PQ&3WR M8,'K05RXS:QM^#[0C;OW4-/):.BOY7"?8.Q!F-B-%^[+:_'#]M[+Y)U%2-#% MT:*JE M:7I)#"^G..+,;DEZ8EKD]P0G@Z=AT2^CYM``U[Z-H)]X7$,,01FSCA,IJPGE?6R@F3Z6DF^Y[0AE,;YH=C M$5[`O@`E`YO]4<>56V/PT,1GH6/E<]:]8PU!U&D0-&]4K$MQEBHYV5O8J4./ MJ'%B)3?[:D`:*-P6BWV&L>=2[?'HQ'>L`\4@,!F2?4"I-;%)G\HT93@ M@+I#N8M:;F%G0NK@I=P^F-3P-DCLYFK[Q2D8)D;Y[OJ&"+(Z,:)'9?*F.J\\ MYQ4!>75>F=4>EN0RU;!+#&,W/(]:`$J15'!T#_?XQ+]1)WCX#MWA4MSDCQM; ML^(J%?YKZ=,U"R85IBP#&/.$@\)C[! M_GD/:;B5?(E4X<6]UXK@-_[Q\#VT3'\%L, M0>6$<2%F%YW;4]"S/@I%@GZWT8R'[V/4L?V>VJI#W*XN,4#Z"GO"3P*#A]8#@A6[^6J5K0B MB""_LJ*<.X%(_8E^_@;&/+R$[$%O@'=H@&@97#Z/-MWW>3RV,VMY?#9J=0_0 MF22J$%C#,O@Z6D=)+&,E9O#(F=F/%AJI:"@1MMR/F^13MTK'";$KLU0_UF@V M+("I3UVC$1?1M3'1L1';JM];#L_G'N)0HC,`A?98K2?RQCA=B)-^U#7TMHN[ MH(A-8.J!ATQOQG1LZ"4:?!TK_%JO/V`_%?3?5^-YGN9CM20$HI96P?[K47=8B@3PG(38IWQ]%H*$IB MFC]%6^;Y[TXS$0V\DG:.6TA+ZT:]^=GHR5/.I::K)$:O^1'[`+XSS&@(^;DJV/X[:'2L):SE!44!R8%&[ M8NH.C6."Q%2AR'HZ:0,*YEM:4&6F`>55[G[$&O M;GHB;.Z&V+9//NFUYLPIKQ.@3XR?GC><>7>33,\ZG6ZS65?+S;-SK5SK=K1R MI][JE,]UK='5&Z>-:K4QPOCK5T`M]S; MV.9;Q8<6S0$3;LJ;X]+%5*=*KG1NOBE!N-DH5NQE>:>=FEE4![X[1/:C\/JLJDO)J, M5J(/J,S%QW:69(\2*07[67FGUBI5902Q`KZ1-1F;*H#OG5K1H^]8G0?&3W`* M#,N9,%$3Y2%BUMX[(&"T@*Q$B,LS/#Z@&:&[(8W/Y?1$!9KW$7DH-!-"&/VN M.Z"$+T^#`>?I@]*J5*?J ME9:DS@>N3)'^Q]C`L59#,3S0"^ZQ^B0QC3%9@3(P>P$.F7NGU7G`CZB>>89O MR$A%[?A%EHNPQ#$*/D]1P*;@WH!&B\&FRX>`=$F7BATV3IZ7L%(DZ5Z1][M@ M?,)D*G=&RI"]@AE-_I?V!\I*_O=.$]W)O49G"Z?K!&*/T1&,)E?P+S@%(1WL M>$0(B"K.5T*OD.4_EIIB(1:7R7E@/H]?'8(68,ERH^JL1"0B5J@H7V')43B2 MOJ1'8^J,9S'-U4T+*RXJ\B3R3(Y4;JKVZ!+K_%"$":RY"`\#'/X^<.1L24-XDP7%`+EEBPO*) M#9-!..EYRD1)6S>W\"UE_^*Y;.3?R^5H%J(<`24TM8U394'-106%UJ@7>A-U MC3PG[1THH\AH">8C@!_0B";-E9CD-C(&IIC4$RTE1R6,(:RR?#E.:,XR3_&\ ME80JAEC+^BDG/G*L)6V8$IDP6-X0,[/B\VBIXM^CR;0C?T13/U24&\`Z3!R1 M3FQ%:<%$4JHW!2'B1WC6G1`RCNJG+%R-#)*+;`'/J?(L2$PVPME]D1,!HJO3 MKY%R$TZ*UI3K=,8>("1+-96YLPDC#&@X(0")QR;@D&@);X=J@WVA8;"&)_!X ME%>)%`LG9L`':D9/X%K"9`KVD1.:(O[B?1;3AR#Z#\VX!#/B07CS.[W:)J1F M&4-%VF::F,0<88FQ4];$01<;9G$L%)UNBVE-`@[%1\/+=$<+/S2)&L(X.'C0 M@DIUVB,@CY$JFUV:-\@ETO.QGS40BW):Z)9IU800)%YK17-$%[!WTMJP$4,' M"04CX/GL\Y/1ZRJ_$7`G)P='BA-4J6?3X: M?5%S0+E/S%6>AE[/"!I M,O5F.7*Z6#19+!H1QB9K45V]&=#$2BL\ MF&@C__)%7O;@G(OGLPGWFX*9GGL/3.D`-]/UIB^DSR2NV.2FW.04H2<8MSV/ M^,7"%^#@!:B+MZC3+UF=?//7F&,VWBU?3&LN6XWN\\EK>J5VJXZZV:UI-JE;?[-/0LO'C1??YMR4E%6?YF90CB,G6Z4VIJ:^XW.7KR[ M=&$3XH@#D^QFJ5G3QWZUZ(_>[G;UT7P^' M>.00R79)Z5[>',:&:R#@>NZW?+&`KQ9+3S.`W&R9-%-G<(!H_I7B%=$H+#+W MOH\IU7`4SI9)^5+0146WI9 M,BI\7Z^"A[',E9RY<:LB]"&/&BG*E4ZBIE7J\_72S%N$*_YM=KJL5"Q@Y<`& M3$H`;\BFM(8R<,.>;:Z^L8M2%)N^)LFC*L2W]66IBSG[N.TTQF1+H>FJQ77J M[M(5>[>F;0,*G[F=`CS:&8PLQ_(#CRYCG',:/'<%BOK)I[96;:&3_%MZ?P\-`*MHWO3]_ZU;'L/TX"+S1?AK&JGB@?T\#C_5!`$_\XCV_L MW5`)\*4X$#XS^<_=[6!9GT"HI5VKE5JP-"-:U;/KWHU,H7]5I+;W7T MZNE%[8?Z0]=./I5U54_MX3HHI8DA&Y9WN'O/%36]N1[>4G>;Z[A0ZY3Z26U. M#6Z;LP565ALGG]1J7=751B,FQ%KH3/%TBDZ7S@V?6)^)$V?!ZT!G*NKM\&%U M[AA$K9U\JFOI*N27X9:FSS>S[]X[%E=QR^>^F8^F$^903(@[TD*R"(%EK,!4 MX:NZ7Q(W8W.'MU8%]="J+=G].>C,4?*[JT)7.]TSK5/3RLUN6RO7.NUVN575 MZ^7NZ6GK3.\TU7:]E<\J](F2A;@$O5Y6+J^ZUU_/E;O._Y[S*(;L"\\E2!.^ M4G:`K%C9@/=23;P>BS4->`FT6:N6U2HXGGVZK\Z!HJQC$]=TL*@'8HS[A\G" M(ZS.\_O@T6'IM#54\`WRHE1\\0L+WHJ%R?KTP/@9W2OUL5CIT7)#'XLNC;], MATN[1;G71(U6"@?1@0Y7B^M09X-;P2X1HG'3S(HU7EA6?*0!3)S0%PMQ\9B# M/;"?%+QGSE1(/T7W@[A.WH30TP&Z8MD4/)+JN(7=\A"+Q"5]K$3D0C]15@I< M`08V?8D/@"X6_AT.[J.RR#4HO#6VS$WES[$":B,],;<\,I86OC6(G1^CLD#D M,E%'B)<2(&:W[$0'.>6*&;$G(I8GNBHA"@8'?!%RNAEJL;"T&ZH6M9@#;[/=RI5_B4CCL M@9%2S&!;41OC!=")HCO^G*Y6L74#+A?CK&2]NKSL6BS`JY"GXQ=CB5DL=MBA M@9L_ROM/HG@Q*CT6-;]11QEZC^D8-OJII6332C3UXD:O$,]2LFFEZ&2)-].L M('-FR8TR3741M6QSPE/!O?3ET`VZ(#XT!Y@/0GON6?[`$K7E2,Q'PT/+S9VP ME.3W?D7Y$ZW^$'#`[L!\;Z8D+ZGPZ[$[B4N=ADQJ3_=OX1\D7RO6IF;5U/TP M`:WYTQA9CKBHC"78##9]X5^ MB#O@8QD]%^WW4>QM.W[[Y;=;\B"Q$P!#_QOV<``P/,%/O$X_OGWB@H+`&R>! M7"#IF2JH$@".S%3`7MQYFF2'21[`7;#2?9JJ[?3>4_\QW@LIO$F=0M=3)$.( MG@;51M1?EE5VL4#73/YN.%BYCMTZ7:43W@/XBJJC;U%MOE&]?29Z[I,J&[`&>E_X#=]N^`6J>NP5>3^/88^MG4 M"F66]NT"#+![CF5,R2`W?H[;=.%]?@QB$@Y\M26:UU?;XDXB+4IF(FKW1=T. M76[K/!!IE-C`3))V^LQM459Q,O_(OM\-WAK+7:)5;YQ\JKL\BJ?O*IK#:U)6GD!`YI=..]O1XBIYN.3_[:-U8$7;RX2&EMYU=KI\WJ^>UQD7YK-MIE&MJJUMN=<\[Y4ZUVU2;:N.\JW?RF5U>U..D M459N[ZZ[_U"N;^XNKZ^4FR^=JQ)_5#[MW)Z?*=WKKS?G5[<=_/J8?YYUSYO[ MKE6;;,E8PX)*/:/&WZXG6I?2A;@'BA^:"IZK!L_XM+SYB54#U#4XU6J"?HQ? MI3MXD3Z-ODO<\9:ZV7@20"2:#4238/AJ-Q6;XO\Q/#;$/`8Y(`A'JI0([JB^ MB@HS^)XM:B7/HFB>?@EN`;YO0>OH-^<*?Z>ZU2"Y3
R7DX8OY-/%<&MT_L M6+%P#X:;1BWY<;_.R*K/XC)N)988WX"91NX2OGR*3G+G9?Z$.J.BUT>@<+AN M&OT'"3YV0^-1/I36%XWK8D=CD@CT^8@`/`'Q)FY5C[-\ M>'+00$'5+YKR@]CD!3/"SK`@VE=(0#RYYQ'20Y=!E6`JP94.-(R\G M5=P57JX0G76%QTX>KMII4 M;3P;0XV9!Z@4X?_DOQ M51R"R!8%W//:MH4O56;.%'V;6&?YW!L'NSZ-QK;[;(J5!Q%7QUV8L/_WB)(< M<6=2G]N!VKZKR*^GYWHD523Q%?`MIFY%OB9Y"$/LP(@E.@-1REH MWPIP_"+G:^71I<6]0.?-K8B[$HD^8T$AEU*CXR<@=F#8KF12_46&*Z"4;!Q^KL)_EIWD/M1[+TVJ\-T_% M8SG-S.Y[`+2A2W^YK-]Y,0L'XXZ,;U4D[//!O/53^24 M22PF^"!I+1-6(SE*1KG`&4])2HAG11_Q^:Q42CZ6@A',(4ZL`:^J%XJ]EU`S MH[&KX!G(\F4;Z8$?VW**)QAV,WAP!]3A:MY+YF_2VJPP71\6C7BE%0&;"YR[ M@)FCE!,B2#7)Y"7J$STTK8"-B3>AQ*,C)O@GB11O#1L=FK-04JPAWA81,QCP M')L&<8%D4'=`*0]#'`:%77"2[QM8PR&VAP-W`:63QJ^*-_N\WPE<1?.I^0B7 M6$()OTFLK)'L%#UQ',D]?LH\4D)X2**5]#"URFP,9%LUA(:K86A6!3:X3LOM M/(Z(C@LD[RKLN?E MI6%Y:#BT[X5MV;H2<]#/4?>D:D5;KWW2IEV`&C.[`,U@YT4$O2,A)]F>+=,+ MKJ#)[CFKPK'.A<]%G7F6HKCBG3W95JCUHI=D-Y;7XZ"JN(5Y;5;TM-M+J M:[=4R0L?[4H)+6.>HPZ*F$?/!?-,7CS/TJO\YJ=:O6H%\E&S5KO MYIU!R$,!(QI&E<[CKI'/BT-9?^(T(\KGB>%8U(RA?-M_<+%DF])YHA$O)VEH MLE5\3#$3<(Z6^9#%P%LQ$-QCX@ZB^W`4Q=#W!@\1,Q2'+DV+$[BQ;?ZDV%@4 M:N,1!-9_(X?[7$_L)SZ122^>Q";&G"NV-;(XH.=CIB@A(4X^&+9'%\)^<5M& MYA+CU$RB/SQ35=P7H>P#UV6//???_.LH;9#.%,@#&J5G/AB/ENOYHB0Y:O0O M\RSQBQ-0/47)HCAGECQ,]8TA]BSW(+)+#R.A M\U-?W)&CH]1H>V_/NZ\PO.&-*0!1<ANYPT2*6LTRD[(E?[%/G=JW[6FMX!E&?:MK\_I6KP<]+AOB M7[`(JUB@:A-\;1A)P2[160-??>OXJM6E^*X5HQP,:\UMB;XN]->L9;<:'^R& M/`O><2Z*T]W[GR.#+"AHR0Z=@/O9:3`[_=G?>U-SZ**R]_B?[+ZMG:C0[N MUF=G^3I]\_>M0(@=;F3S!31^V7EV"FFMMJRU[_YNZ+MJI5W?GQ.7O3[V30T2 MTMJEUDR>RLJYS^(=P%VMQL&$0YJF@3G=[B%63K;D>%2?H>A7YUB3@Y)\M5)M M'H[D+_4`]F%+]LO4[W-Q14K)O]'DF\3@%5.U^]\,1O!QOX_*-0^RA&/JRP((Z;HB2";Z/[B^:0;TB M17HX9W)'UT&U56ZF'BL3EI21O,0BX:YF>!3%KWMQ%CYN!_16\)4]0EX'WRQP MO',#PWZEY(:\^+/1>05X=U@UW7>K) MQL9',5&KK>5O:ZU_7+"'!*GME"!:U@1YV;VY5.#3F$N1/"8[UA;YVU1=:L(9 MWSB4W*EJ7\;':JE=;Y0:]0PR):^*9UUOE^K-Z43<_F.93J'(:'#?SAI>;(+C MF3S8[(`*RO=O#U.92[6D'[PXZJ5:HUJJS>#3_<](OYR>"^0YU,ON+"'XBU*5ISS$%2MS4N.! M5SB7R7$[QK5>]K+CV?0)I*;KI=K,%/ZKHI;C+5JA8^86=D:MZ(MNFQPWY34V MI5IIO+*DY-F77:2MMW-#^E!L_J*KI_F`/"-*+Q+;(X&/!,YOQ3?4>5 M=Y3(@Y7((X'SKO(RUNLI96P1\;B0[!\X+#G$?22 M,ZTCC;=`XR5'5+G5D%DZDL?#J!6[N.4+@3V7S"UTD3O2>*GVJ[\&C??5/SP> M4KU^BC^7E#ZD,Y0C@?.N_7;G^QU/IG)V,J65FC.OX1\/IO;M&$.M-&J9;N3Q M8&KG!U--/2\[NJ\>];[Y(8>>N3\2/?=('(F>#XV9908V<3!U9O;%N53^>^%G M?BY5:Y>:,]LYY0N'/0^:C^=2QW.IG/F1QR.J"5VX@ZDU1RF=(:4SQNH<:7P\ MHSK>GCH>3.6!TH=T;G(D<-Y5WO'V5-;9[SR<4=6/5Z<.XCQC2<'5\81J[W:T M6JDM&LRX7R=4QZM3;S=9?R1Z[I$X$CT?:O+UKT[MS63VK(^GYDW%R1L.>QXZ MXV39(XUWG91=6,V6B79<,JYF&\VZ6>L)S?K-',R&/M;W,T*"^:^GC/1]TTF5O\D&8KX;^#&:L5"YXY,BP'QT[U`0K/Z`>A M82NV-313"R=GN\^<\TVSX`]Q.-6N073IG59_BL=<%1/=F[M MQ1MFFO[IO"HV[_3HDL5N4X[L M9'FU:/6U]R/EN(+;NOG-[4S=UKT!5JMH>P+K/AO&M`3N;0!YE,.C'.Y$#E_= M*.Y?O*AI^I)&J*\-[:0P[D]HJU74/&X&I M6/)\7'G$HVGX=[%`->1<@=IS'^$SG\I0_7"$)73X5V,$ZB_PE=ZS\O1@]1_H MP_^$;H`UXX#&7V:@4*$K/N"&GM)W1R/7`=#<_E^*^;-OF@.3BUME96S\>_BT M6)`EK%.WCTI4X1H\N/"(_!%^L@0.+&2W''JU[TLTTN_.I$9]CUAOL]L)8+1P M)/J/R1+E:,]GE&HB$\9URL7">Y_J_W!/@1=" M'Y;P/ZQ5OKR-^E)!FYFRNK0@YE7KAE]<(@SO!?" M`LB@9B\']%CD_:WEVRXH!L\<&T(E+O>E:DWEF^'<+_-P#Z].<[,*Z$.CAJQ: M31-#E+"F/XSJ6=,?3Q:W'DDXGX0SRJ7?$J4BT5..TC;-*HMT=9;93ND!-5Y4 M,C<9Z#<7==B97$T/XY><4NWB$6[MJB)^'[@4*VT%;ITL/>8''EJ*SC4=[43 M>/U6P+UR@UO>F#'HV5??%0=#VQ#:H>U)XJU?J>Z@5]H0)]L0RS*-I MOOV#/7&^M(7=C',$J+J7_L&><(':VA.5-8^J^^(?[(W=W1/&U?%@>K0,6TXJ[J%[<&2";(B:8_=@ M"S-0,\L?[(D)JU>J^Z8*]H<+-IVL^,HTW0_WH%II[4D+BGIM3_A6W[^DXOYP M@:KO":#SJ)IK!Z&Y)R*V+W#6*NK^J8)](>X^^0;_PF!;HH%S-T/%!0">$/T;GJPZSIT*X1@N`W@CY'I MT*MQ+KO_H%S@M5QYKQJ@4]8!#DC!(\B"!R-0@+-3UX+#L8L"RK>#<3U![<7L M_W%@/>*_?O\8^N5[PQC_>@9":+M^Z)G7PV[B[=^8M%V9Q;P*'^'R=E_42Q!O#UX(>FM=K-'RWMXE1O7]3+K5J] M6:[5M&[Y]*)3*U_4:RV]U=&KIQ>U'^H/M7WRJ=8`]5:-R;,.1FE:W'@N7NCW M+SQW],T<"$=#[\`E\$?7<\$/L\?$;3FR:=V+46#E3!)(R\O2(DK47QA['IX M9MDA?,JWQA(7EK=`!K8W20I4)PAPIE6[9_666NYLRI4.CJR:\7TSR"'C MJ@U@7'V),I^%"J,_#OR?J1WOLA/R!1^\[H'_9/#-_-PAKE=QB^N$^:I8)'`F M70:/A%[_`7X$,G[O&:/838A,_\LQ3V%5/:TWJ_!-N5[K7I1KC5/`KU%OE*NG MW=-.I]MLG'?/?N!CG]"!`?]E7;?X)#OOOX=_O;J^.U?:9>7V[KK[#^7;^V0$R%8S$O6`@T+PP>UYH>,\86[92467< M`+S]FZ^KQ@A!!Z>]5_L;62(`-.+N%<9,_M6E._P9I[" M.^\W)?;]93@[,IZ5Z"=)SSN.;"W2>XD>3APE8)\FTU%$IR7PW?T0FS`1"3%L M$,-.HYACP/UZ3+QB#@\/0-0\4[KU0&WP-U!Z*\J5*U_.$TK[_PF!#@,$TP\- M)Q!Q$+82FD1.!-T!(\:V=`N007I)3>AXM'DHUIE7=J5<%OX?_EA]`9@#8`68:7&*PIZ*_%@F,^ M`6;H]%"F`L@*].Y@NLV"16X,/#RQQIR=N?',H>EYE-$`P"O*'6D41A>7-(+` MZ#_$69>9FKK+:I&6(%7S9-DV:&C;Q^'HH#33Z\B^99Q"3*1?X+LTE2K%`O;J M$_#@JK")`0Y<#SP#$T\^>#L>3V67[Q6_P+<6"\E9TJ$36#8AX?;[(2`M$E$& M+&;=WYND,LU'`*0$ZGI(NMKP`0T'E&\_'%%&"]#L/2/!X<>P)BA2'U6WI^#! MTQB7TZJ_X+]'KA>GN992C0B?PM/\.;9PA8AQ&CRPNDF(XM;`KIGFB)L4!I@8 M!76I4FJ4UCFF1G>M1#I#L.DSV2=(2!'M)J9.P<0./7P`:!T`WK/F,]T,:0!.^J-74\D.5/*#'0'<_P8?A!@$/*, M4F9:]-Q[ZX/@(OJ1`-C%+^";,3HL`??"%%^Q8L,5A/:2S@Q!ZDG'*(V.Z_$: M##HG@/@;$'O#)LWRY`J7:4$_3%:*[ZV*62DI[[3J!R`D=Y?:&=(/(.2FXR,=N:-G#)UB#4N2N.[8`"X,@Y M8-@<4)E`\6!7IR9K#--\@RX'^/.3BL*7EF@0-9V-G73AG2NSG//E&?_Y7G?" M*Z>4G@^L=>%ZW\Q!V$=.O1Z>N6$O&(9VI]_G'K>YRWHT3S[I:ISS6!&/=*KK ML^?Z/CPY7"YDFA58*5PG^9@-$A!OM;5Z M:R*IRK!.)1U!ZWX!_/#0`5L36DX(0B)2=:[CGYJ@'TW^W9WQT_2_6B!98,PN ML73`](..,TBO<@YJ-'C^2@>5E\XC_(1/ZW)&)!6HI*E3IU!9D2.]#^>&AX>T M_HWI48POSCNV2K,?@,2/Z>,;[87D:YU\`K]7BXDW!X=)AF,RG9/Y7>-`(ANF M:")/-"9X(@7QU(E3O-MY0T;5ICD\!?"D-O---'C`P6>@+&QWC(R:TXVJG7Q2 M)Q7<`O`72]NI@2WH*'Y0IE43Y2/*Q5C3!4M;$G= M;*D20Z,37+7:;*Q4B3$;FXE-A"#9\E#]7@^_N,[]%TRV\J'OWTQ[`*'"]_QQ M,.C81BM=D+,2'AD5Y.R>"]IK<,%J]3@O+='(R#TZ^51OM].E)XL*-%X6M:J[ M+S91,6K5B'=W%+5F@@3$8ZU:N[FW46LF1,*HM:QKS4,)6Y<3;9NNM$IA:QE\ M:3VSN#43MH"X525=MN.X-1L>UV;P^(+`==-P+G,>K"_EP:W'"X3W,`[:C9S$,UE@BQ&<]5:/0?1W"KH;AS-J5E&7;) M/4*T&GHU!\3A\J9`X-PHZZ!?Y6?;QKF:/YRKN\8Y+SHB@7,D^KO".2^"G^;M M=7%&1X9=E80C(Y\;F0;>2O@DOOL5OOO]H_R0%\/G)U82[M_D(OSQ"L_/B=OE M>ESQ'>./SX$/B#&FX$"/-6W@61O&:TP___C$!>Q+U MGSW/MG\=NF[@N('YQ7+^4GY"K/;7KYYKI]D&?UEQO?N/6K6J?\2O/^(/3\3O M@^)&+&`;/=-.UIZMNP`#"A`A>4X^;AM0=5-`U8P`K6T* M:"TC0.N;`EK/"-#&IH`V,@*TN2F@S8P`;6T*:"LC0-N;`MK.!E!M0SBUC,#< M5(MJ&6E1;6."9D51?5-`]8P`W=0N:1G9)6U3=:]EI.ZU3=6]EI&ZUS95]UI& MZE[;5-UK&:G[384^(YG7-U7W>D;J7M]4W>L9J7M]XYW/:NLW5?=Z1NI>WS0, MT3,*0_1-[9*>D5W2-[5+>D9V2=_4+ND9V25]4[ND9V27-A7ZC&2^MFG6J991 MUJFVJ0&M961`:YL:T%I&!K2VJ0&M961`-S5+&5FE38U21C9I4Y.4D47:U"!E M9(\V-4>K62-Y>)%^E_ST1[U>5ZMJ.^+S50XVY,/I]WNF[X9>'S\=`74,Y_Z/ M$],I?[\]^=09\9W[@>E1=R!J&6*$`PM+FH?<<].P%3]J0/S[QS3PLU'J>'(' M<,&-3CW2NV#0TD[/(P.SRQI![A+^N&A='C.@W9XEE8[/$NK M'9ZEU0[/TAZ>PM,/S]+JAV=I]0-DO,.SM/KAA>GZX3D/^N$Y#_KA.0_ZX3D/ MAZ?P:H>7$*\=GC]4.SQ_J'9X_M#A^0Z'YSH([#J_L-DV?17^!'\`5_ M#'_Y_U!+`P04````"`!;8ZM`;AWBX9\+```!E@``%0`<`'!T`L``00E#@``!#D!``#M75]3XS@2 M?]^J_0Z^[,M=U88DP,P"->P6!)A+%3.A`K,U=2]3CMU)5.M(6MK[< MML]N^X-!ZX_??_[IP[_:;>ORXN/9R!I2CU"P!NU/X'/R:'UUP`-N^V#=V8^, MLOG2ZMN>$WBVC\-:UX3^-;8%_&K)?UT+O_IZ/KJV]O=ZEC7S_<5)I_/P\+`' M[M3F;18.ON>P><=JMU<3_QF)>&*]W^L=[AVG?C-B`75/K*/C(_>PV^NU>\X1 MM`]_&[]OV_OC=VW'/>Z.C]X?'70/QRFN/H=(.!?%/K'VN[W]=O==NWM\MW]P M=9(TDJK!$(X/?@ M[L4C>;$>+-0Y%:>M%/3',??V&)]V<.R#SHJP]?-/5D1\\BA(AN'A8$7>ZWS] M='WKS&!NMPD5ODV=#*,<+(^U=WQ\W`E_&U$+I>4I_XRP&=,#X/I6]9 M?L)\083C,1%PN(-'_]QCSE^5T;^B:+O6Y06,_=VJ1#7#KI'=<+8`[B]O/)OZ MJ/[+OP.R".WS3N%6FG;7.NBS^9SXX7]1%%R0/KIEZ)X1V/%[4''B7>LA,J3H M6^X6=>$T.W^3UW.B36;S!5`1FIH1H!<-^`R$+VYGN.6=2Q_ZQEZ&7#MYXS>4 M9->:NO5QEAGS7."1HRW?U2WBSQ__%5$):73\I:3=[8+7GW/GZ.5Z&L$BX,X, M5Q5:X2FWYSM&KSWGSM'#5'ZB+(Q+2[MCW!JSQ8B=)(J707P&.=("=668$GTK M9]UJK!6)T'DBPVX%TPRA0B%0#-159FI/ALZ,9Y=#/',8'T]L,0Z#Y$"TI[:] MZ,@T0@<\7ZR^"1,+[6XOCI5_B;_^=N8X+)`.BKVTQQ[T`RZCG]5,GCT&[[15 M0MPQ*/<('"#W4IK/X.M)G\MB!(/KABL`UX)-W`'MVPOB8\RI$%]!;41R(<`7 M*D&C7YJ3JV099&A,2!D_N6O`[6$X]L@T-#@E8INB?SF MVP5,`!^H^]$F=$AO42O#R0AL[U+(_3!_O5=@?`49E6NY&J^))[\2;H0"]/&3 ME&R/:OIZ2%]J5@I93&"X1!^>+0'B"/>:V&/BX1X.)::^G,\$F@&]QZD97Z+7 MI!`\0V)"QI2J%"*F*0Q+B!O&\TBY7.Q\-L-8BA=T359P2HQ28Y)/:T1J1J=W MP.=AY!U'7BJA\TA-R)P6H'AIY%&:D'CHSX!CA,B#"H:ZA,DA8PF)#_AL>^1ZFCG4=I2.*%3=S+1YF'!]Q34HNA>-'KWB0_S%?^$L_FS/-MJ,J9* M<5F,H\AA%][[;K=E/8`L/X4_XT\+3AA'+*>M_985"!2.+:(T8UW1%;]$"=C? MW@)8Q7Z>H#QJ&LHGNTL:K&8*+@'?>T/@BRL:">;]-X0YFU-(,!Z\(8Q:GE8" M_?#M08]=L@3CN^9@S,DHI1'FA8IKG+T&;;?Z.'.WH?T&627=%)P"?QIU@^S4 M2U#G427@&^1YJ#,Z:;BY6:O$:AV_-;QE=>C$D'7?&G15VTL"N4&NI1YDC6I4 M@KZ9YKP`?5E^-X'>3)N>`[U*"3Z!WR#_4^_)%]3!$]3-]$B?I\DS/DMNX2C! MW*#\B#9FC9:D1`'-=&#R%5"QER510C.]FN)54-P\DGBPS71KBK$7E=(2Y`WR M;O1"E=P*7(*W0;N:'M[G?7T)V`9M9GI@E8W2">8&I5KT,.N4V1+X+]G+:WD& M(GOZVK"<\4EK(VV[`N>_!7Y/'&4Y^PF1B>+I1\Z$/-PZ459]TQ1&VA;G"YOP MZ'E*C_B:W(,;9:[_"YY[Q?@7H6K6T.,UTXPI5^8UJO8*;4MTDC9`,S%J3<612EQELI42W'TC"/]K612BJP@-]+B"'ZR>%7- MC1D:(XUUT=M(IZ6RYE$::P7$H(5EY2GJ`\RA-M,8)0#]0-G!<`'WX+&P*:7X M+2SF,8/B'FB@]#G6OS;2J@4>CCG]B,:5VQ[J[,R=$TJ$+Y_]/12K6I/9:&B0 MXTYE8X+5LVED"TP)NJ<^KZ+EI5UOD`8\LTSZ)\_@-[(GSK`BGWE1BI:['\NQ M6(LJ#Z^1=773+[?*-VIDI3[7@\XNGE?4=B,K_YHJS(EB%:7^FENS@G`FC3KC M:#2RJU03J*Y#K&@O?1M/NR3N4K2=O@WLFME-Q0D071V8R\`_OT;4Q*TR:_4E(P]*+X%IYBI/C>>J&2O6_H-US!"U"E M>>N!2MVUK`VN8(AZ8%R=@JL"*LU3#Q2*#FMM1"K^&J%;.^6%6Z\FL/9/<&@Y'R)[@*:\+@/"1^)@^%RT7*M,$"-\$4) MK@WPY0U0(WS)*_5"?'D#_&@F*"O-.ZC)2)3BBJN:WLC=*ZL;Y=F9@Z$K!^4] M$@HX%08P=+>,`^"&6>Z!$('\@TWA3?NK/F$5K%(^TVA&N*M$JL?HCU#`CZBK M7P.1FM@1LX42+A@@5C?Q)XJR#OB;B5 M6,VTN3AL2N.L2')>).RO4+:^%+!L1=?IQ:HXR92G9QTV,SI.Y-*XO5!);J35 M:/V72-)_JT356I1/;+2`\))D;^8P?`67JY&GR7:DH%R?NY'W9.Q(0;E!UV8G M6EJV?*GFS9^7W#WXT&2FKMS>Q)WTPE M>BT5C6RSVTPQ!?G09C;<;::.XI1*,]OP7J:1:HFS#9OS&J69LO1*(T^J;*:* MRBV<#;JV:#/-E/5=-O((R8:+1:M!2W$5V"2JNB?S.5)/?#*6X0_([TTUN&Z;BHLGO3#7/.J,;>5/ZMK52U.':R,LZ M=V)M\AI+-[O)\Y4/-84I^SNVOOIL?$P$'.Y0NG-/5D?J!>\"QG[]I53F@>LONBR,D>@8LRS7AL>DIX!$ MT(#5L?:NZB]J(F%8C%QG+6+#+:\O$4E>8UV*J2F:U"V4(VDWA5SY]94QOBE3 MTM9_I82K8`2+@#LS7`MH6Z;`L``00E#@``!#D!``#M7>%WXC82_W[O]7_P MT2]W[Y4`R>YVD[=I7Q*2/=ZE21Y)>^U]V6=L`;H:B\HF&_K7W\@VV`;+EL!& M,G4_E`V,Y/F-9,V,-#/Z]./;S#%>$?4P<2];O9-NRT"N16SL3BY;/S^WKYYO M!H/6CS]\\[=/?V^WC=O^YZNA\>@ZV$7&H/T3\BE^,WZUD(.HZ2/CQ7PC+IDM MC3X:8Q?[T*MQC]W?1Z:'OC/8_VT#OOKU>GAOG)[T#&/J^_.+3N?KUZ\GR)Z8 MM$V"OD\L,NL8[?;JN;^$'%X8'TYZ[T[.$[\,R<*U+XR/YQ_M=]U>K]VS/J+V MN^]'']KFZ>A]V[+/NZ./'SZ>==^-$JUN*#(#YFS@^L(X[?9.V]WW[>[YR^G9 MQ;O3B[/3_R:IR7Q)\63J&_^P_@G$0`DM>BEI?&<,7.O$N'(<8\A(/6.(/$1? MD7T2]>1$/)QJ\/5L1=[K M_/K3_;,U13.SC5W/-UTKU9!UEM6T=WY^W@E^35(#'[:_)D^R];X3_AA2>_C" M"YYY3ZQ`D`)P#"X%^ZN](FNSK]HP'F>]DS?/;OW`'OB)$@<-T=@(.+[PEW-T MV?+P;.Z@5O3=E*+Q96ON>V]L<$Z[9V'[;_O$6LR0ZZ\^3=>^=7WL+P?NF-!9 MP'W+8/W_/!RD8,P)=OVS#]U@,OK1S.XPRHY0IYU]61]"RR_//DQ1]HS'\1UV M87BQZ3P1+WBW;AS3\_`8(UL:@6"WA\3P9%(D/Q02??M3Y&/+=,I'!>\^F:%] M>(]Z*)VS&].;WCGDJS=P;4R1Y>_#Y'9GY?#[0'SDO9#U^*T?Z3W2B>GB/X,7 MZH:X'G&P'?QQY=I/%%98>/?8GXG!CQOWL6_&N'6+]+HS\@:U7+ MLH]&?K4BX3VA:F1/E,P1]9=/CNGZ(/[;/Q9X'JS/E<*5>FS5,K@ALQGV@W\" M*S`A?;#AP);#J.+W0/+!5YC*G^3U\^$-9G,YLCU@J5FB!P@ M@3'P?.]Y"BKOFEG<3^8R:%7)&[\G)U5+ZMF'ITR)8R,:FN7L72T1?W;_!T3E ML47'7S+::B>\^#,K1\_FTQ#-%]2:PJR"57A"S5G%Z(6?63EZ-&&?P`NA;*6M M&+?`TR+$)K5$07,\P96/R5S`]X$L3,=I&5''23SK5@"I8^-9)Z+IL`85\@./ M@A4.UK>VC<;FPO'EN-MN?AA>R.C7"'[8:Q?P3;8NUN+]J[^1:^^G(%C[;9X^\<<[+J MSC%'R+EL;?_>J9R?FP5E6P%WL)"9SF_(I+>NW8?E+H,U+FGU7*[&+'SV$Z*8 MV'?PG9?!)I_VT'PR&8EQ&5,>CL?$M(?W#`U`Q>4QFDE^.&[#<>1/SFRZP_'W M`MWFL!7\7#TWP8(&GN:+.7*RV$G_?B!^EC<@`&HZ`UBYW_Z-ECR^MN@.QA^X M[,0-+/K`L/4>%SX[.F#'/GQF\QH=BO-^9,IP>.PG;97JN;G##J(W\-Y-".6/ M=.$_H`Y,V@OFOR'[LN73!8J_)*X/MN:M$[A]8"N'?E_+F(-VH3`2EZW3 MEK'P``>9,R[,RN2PX0WL(Y&TKEH)Y*3;8^*H-;(-JSJ&=EI[:!P#*(9X=C00 MMZSF&.2[(P.96K8A$2/\_D@0;IGK,<2/M8?(W^^( M49[7'F6F/;X&V.L>"3YWT[G"E.\:"06$[^V-CTQL%0EYX[8EISD.G##F^M_IFTSN+ MOOYR95EDP4(NS"6;-M&BMN&J%1#O[D?NS_<060B_,FX>D"_&?683)1AL&X=S M\LG$]L"],>?8-S?]Y")J)9Q['O(WMQ@V?E3'U]6(F546=QZDB=3Q63!=4S3* MN102ZB:M"JZC]^(>F1YZ'#EX$NC_`F$7--((QP-QK5V@)-JI0>--610;?+`@ MEU?3">+:_!N3TB486;^8SF)S,U6NK1)4_!`]'I:<%JH01(9O[A!LDLGQNAV, MP[[YTD=C!%/2_@P6W*/[#./Z.!XBL/D\9B]EO[$2#0_`(_=ME&NK8N17S`V! M@1OXQ`7F$Y]>#^X+%\;<)BHPW,[F#EDB%,5TWF-SA)W`A)VQW)JN+ML M!^XK"(+0)=CX'#&F2([K?&YWN24F$T=L20K%'((&W8Z>+68[NYF.6`J,;N'F MBK'E+V>EKE]E\BLN?1W\G@0[A:HPFU8)U\2=O"`Z"R*EHWTE'M-9I"IX3C*0 M/[6S*%5P_.A/$;VR++J0,#,*&JG#$6PU%,[Q;%IE7,N\GCD-5/#_1"/+N=!- MS*)4Q/'&X3%1B& MR`>7!=FW)G6Q._%@_5O,%H&?Q4IO6)B'1*"A"CSKDZ>M`]`-_C,(E?*;%7C, M(5+#IZ#?H8FG(>U;B'@3!SO4SS_?80?"!6<6Z]/A4_T"3\3!Y2^P,4;]PD[$ M,7),O#6X,_U"3F1G9Q*-?A&S0J=_25""1SLQ9OU"::4QYX M28VAZ1=(*PU-R$V($>L74[LKXLB-B*'I%U,K_TKRADU5-*W:^#858R6[G9T< MOKSM5YVS,$K!GKD)JG-B1AFH!0)<=$[;V$<$DI$%.J=UE#$3\@_S=<[\*`-] MWO:PSCDA):_ZV;#U===+@JUWND@IZWQ>D)S.J21E@,^C5IY6H:V&'"8QS3M1S#+86=I@`V-R)?*K(X-HJQU)\5)TV MJ-('Q$=8C45.()NG3O$`ZVM5BB$3MSUCS(KLR,($[?SX!HVSM$4&4\8IR`PF MB\=/7P-9WNE-YU7%&/4UB>4P)%&*&<(: MUEE(WUFC(K':< M,RW2PJ6*2ZZ>=\$%JZ"1+CB*7_ZB5DW`?<4!]Y5%3*TN`4G:L#4,F2HS!`Q6 M;/6(FLV[DC?OY#R!.@3"B0'G*]TZA+WM@G%;.=PRZ(\R5EUR'V+,=(7)>247'G;J;J,#BCYV M%CYW.X1'K1'GDB.PV4JKG4N%1]SZS[Q M*XQ@$-OQ+^38X!_^[/&V9\3:JBG#QW3;A>6YIWL)3R)_0F"5VBPYU0MCRWFR.2`'ZB0,?$=9 MK-?(1?Q9SJ-6PWDHWH@5+L=I*E7%),,Q#N6WXHG+,H>\.7$)!?2`_/B%X@@Q M3:.D;%>X0KB30EZS*)45&GL`;R/-#X]K#K6:LDL>`K^0U9'HHU?DD*"L2?[* MD-]I7Y"ZX'M7Z9R7G/,B!/B>?8<&GI@,RN[)GX.`R"]$'222" M>V4"DUR#K*ACJQ;4!(J4>Y87NQ;'=-*-O3RBO/?)7#\9C MUL/V_1;1DO9`A`C_6PD%E\?AU>"&,4W`M7C&`OEZ" M508KW=J8N;+`$`\K9A3-TH0)C'\UA,<3!BP+_=E"@;\#Q3[Q`'&Q"39O(1%:!C:VV MCVX?>_.H5L7C.'?YRF_31"^6'EO'2GIB.^\JX2U"1?RFEHR!NU&UDL]^03N] MT,29D=*`$DWUP+0J2)B80L*@LMKJA8H5B`4E?8=V0)5LJPB! M<77=CPRH9!L]4*R]E,@N+O"&)#K0!%]VN5IQ>)SV&J&+''"D:I$!WKC*UBM=^A( M([SAN<0>XYG5@=[X=AO/O(XTPINQ(2J',ZL#O?'M-IZZ[1S7)`LI.@FV0*(A M*_FI&GQZ)77=S&5TQG!E_;'`%'&O,.;`D>A`3=TZ8B%D!X?/K(`(*^7T.$X4 MWN#!*FRG<0K,M0](]C=J@)'^%]"0*(^&U5HPIONI">A!(]R"%DEW$POD^[ M9Q'7P?4V&%&[R;%<(VV)5JJB8_SB(3-]JMCF_B"");.:+/ M;5**K).3E7.M49:<19JID7',5_H^48Y\.>1*^1*'N,E! M/)XEPN$R3JXG^JC-Q(!9;GGQ8JOP=%(U&)'5W7X>:10TDLQ]6H MP^4EAQ)3OA53A[M/JI:4G`U;AWM3#C6W>!:0[*TKQRPCV5254WW#A@\ELJ(@ MR5A6^B9L'6QZ21PFK^5VIF_^E_SA>+XTLH)PZI`:7[8<4H$2=4C*+5L`8J?9 M=4CJ+5LRF3%==4@#+EL0V8$<=4@/KFI*I`+BZI`^7)7Z6&]+UB&EN&PAY`42 MUB$'N9)U(BN<37W6\I'591$8W-WC=-)7@@B=)=8A9;M\@7".BNN0W%V.,/BG M5'7(U-Y/!N*GCG5(Z2YG/LC$/M8A'WSWV+C4DB$1/5.'S'.#5;)>JKY-XP(DC'.VKO%IF4VVQ]`HTN[\: M9_KN8^R%/ECU-3_V0I]KT,;H];4R!&MR2A6UB''K:T?L@WNK1$D,6%\/ M7;*.6**V08Q.7W]3KOQAF(,8X]+78Q35U,F(R!B7OM:LZ.LG6OUHC?F=(@OT M+UDI+=BC>R&1$C2=-3;OD4Y,-PHMN2&N1QQLFU&HY1,,(]!$82<9C?O88S8E M#/<+<'?ML%W0(ZD(=%RYR:6/ESW3Z.A&1S7P?U) M$P1$J-QM]3TN2)#C,'NIE.RD<;=U-%0:)=XH\4:)5W2)KMPBVZAQO=3X.@[G MB+WN$FY@$3<8.[;:^-X-WJ^T?.-GO_+Z/F]E^'&%-#+%`AR*Z;$`>:' M>#+U/78N*/6:JO6]KG<('M.IY^?0]BHUD:U'E"UYDW91EMJJRT]%CC@ M+QGM$6]B-QKTN#5HB5>6"+T6/`BB[1O=W.AF51GH8A.\4=F:J6RV&S%$\P6U MIJ;'BLE-J#EK5';E*IOGG`F/1Y;#)MRX,2^:?>=&`==>`-.&KU;%U=98.`X"D.@9:.=&^W<:.?::V>IQ:)1S7S5_*G#'C$"XP;^ M^#]02P,$%`````@`6V.K0%=_F,%B(P``:<`!`!4`'`!P='-X+3(P,3(P,S,Q M7VQA8BYX;6Q55`D``\T]K4_-/:U/=7@+``$$)0X```0Y`0``U5UK<^,X=OV^ M5?L?$"=5VUUEMT7JW3.S*=E6SSAK2XZMWLQD*M5%BY#,+$5J2CXWD]GQJ?.&8#>TK<=;_W3 MV=>GB\G3]>WMV;__]<]_^O%?+B[`].;GR2.8>Z[C07![<0^CP'D#ORZA"P,K M@F!AO?F>OWD'=]8S=$-PYWC_>+9">`[P_VW@>^#7J\<[8'XR`'B)HNWGR\OO MW[]_@O;:"BY\8O?3TM]<@HN+Y)E_I]Y]!H-/1N_3./.71W_GV9_!:#RR>QW# MN#"6(WC1&SX/+BSSN7^QM,>=Y]%@U.WTGC.UK@-H1<@@L)''GX'9,(WT,E5 M^-Y-BAN7O][?/2U?X,:Z<+PPLKQEKB(V5E;5&(_'E^2OM'3H?`Z)E3M_24(C MX"!@EL"_723%+O!'%RC"7>/36VB?_14_\,?`=^$C7`'BP^?H?0M_.@N=S=:% M9_%G+P%@A]PK_&'Y\!7.CKXVUJA5C8A9>[ M\&)M65MJQ,4\34R=75+WR(>8NCD'X5L$/1M;II_B^IQ`4?,XQL0H-NLO[ M((!>E#R)X/OIK*+P9>HW+I[S/("AOPN6L%8HL)5:'GQSGW&%C8N*X^8(>A=? MG\Z`8_]TYMC?3',T'G[K]?OC_O";\ M0NBO@.6Z_G><($.P\@-@^[OG:+5S@974067^K6MV@.79Z(>^<8ZLA%NXC)Q7 MZ+[KH#L>?`O_50=W0J_>O:$1UZ\VW>.B%QFL3 MW%0A3#"T4CY*JS/;]%^/_H&>.$UFG/H"%#U(O2$*E?@#L"/XC M=@4DOH"K=X"]P0U!Z@_8.P1^3USZ'U4-A-+HFL7H1CY.YW%T<3)W:'0_N,B3 MC_C/^,,ECO$VB?'S._BPPT%VO(_`3Z-LI8Y]5MM*G4[J^2;N1-^DDO8QZ;]] M\8.;N/-VV-&IZ-37LB&S1:OCF&"J'G62IBHQ#I!UD)@'9:,!M2.!$P6!/32H M&A,H;22:\#VG_MKA;"[K$"X_K?W72QLZ5-'HAZ*0T4??)J@QLG&#],6UU@4: M'/Y=@@`/'BHVY.P,1OU87$EE@&O+%K6BU!X':2>21C"*&2U9_Q*,M,+UQ.QIM0P!IV$\GMK8+X">WN`&E24 M/MH":1Z`]%?`\[T+U&G:P@@":QU`N&'D26GY08B2N810'2`EVN)J2+Y6Q.F" M^=*--7%"XON1Y7*)7]?C`?9X@RK733SH]]@A-]P,;Y%X>H2U2+J MDUA_H=LSX_5!L5V0-0P2RP"9!L@V0,;)FUHUJCH!]DQ?"5C+?^X*DD<1FOK=LHK), M/?5"VSLC2,..,:S2VMZF5G)K!-7,0CV0USGZ*`S3T5:L2`U%=\A5`=T5`J9& M>N'+Q+/Q/U/4U7BU7+S\8!)=6T'P[GCKOUON#C)I(%)7J@0%'!+CYM@TTI07 MO@!DE2X+RM@%DP@DE@$Q?1(U;F'@^/;4L_F*;!=Y+T6.E]>2Q3HP@]R*`.JM MX<1(O3LA\*?("B*9T/N5T)_AVO$\_*V?-@`"[7"[T$TN=+6M;HUF*M_RBH9( MG];W@5`*C8("G"]N(/VW%@<8)I2WQ>5^B0V.S=%@6-4D4_L@>0!(GJ!FGOE$ M,2#3T#.ZLI+"_&#'5CX"LK#[_XV"^52O%C(GEDKT[&\V#EW!B7WU/;PH$WI+ M![)>F/-JR%0KVPVQ_#'H#GNQ./>FJ$:SQA3ER5;0F45T1&)98^##S(\@Z'U4 M*K1J#N9T51$;S61TXX1+UP]W`5S`M^@*.?&/^E]ZF1$]Q%;BF1A#N]WQ4$!_ M8/\`\#M^!"#/4/1*ZF2!H%*=W]_?+NZGL\43F,QNP/5\MKB=_3R=7=].GS15 M*(?>@J)E!4Z5CGWO*4(^S/P'*^!.)I26E:S*`P?$.-<;]09[\?D>(%;`S`?( MS@FG!H0$=@PF,X,IQ%;.@>>#+0+UR@(E4T1,;A6U4AX#Q9)X>K'0ES[912]^ MX/P!F6]\.374R*/HAMC0I3=*]N+E1$*-@;TUY4HY`EZ)7D**S^+B4R`:%OL8 MTBD-BA8"N@W#G;AXXM(JA4-=$%P0T.]UV**AEC013&U8;+$X3%S*A))G&5$CPD2_RVP5E5+)^"&X3+/7&;'UDC&GB6B:`60KQ^!%L!%;HSR`^AWSCL=\M]A M9^P'8'3.^T;WW!@,\MF'S.YEY(2/0KQ'$G@!7>.<'$)(2OS'SH.@VR&?&)I( M3F0HI'H4%$;SU1,,7ITE9VH\5TBJK+)/%CP,P^BDH@HCO,\RJ7^\J[I&542;/[@/`I]\A'R^=^^*$2\O]#5K!U+-OT+=2^%*X M127MFV<]7W`7^K`7[T5+ED=20P!;`L@4P+;D;ZAO`979!)6,G?95Y$HVW7-C MH*)]OX'/D?B;&E9IB2T^PP7!J5*C$[_[Q&;T>L5R/#"BCKOY[&>PF#[>@YOI MU8*\3IG-%],G\##Y;7)U-U69&2K(EDT1O&C4T\DV"M\P^\U.-^8^_@0]8`7Q MUH6?+<>;>T^6"^>K1VBY4]2-C!BG'=6HV+(B;'^YPR^1R&K4QEX)<6G0,X;= M;UTJ$FH48*M@CH8?R"[N,&'+@)H^/^E^@K*6X"1X#5&\:K9/G`0S:PN%G81A MC<.`1VLX#.@/`0X#)$]3T8S4URUN46J&3D+CPMPM4:^N7DU,S2T%F(&].JW, MB7=2-&QH&J$6;VM4;1\Y%7(SAYS3O.BSFZ21G@7;'0UVE20./B(GKM&_3L7I M[>SR4L<`#"<$%QYUAL.""+$E0$VIW1_9!K3*O$XW;SF(\QX^@UWMD*""?_E! M`2\X>LBGN]C2P#S.:L@'7WR5!U&\C6E15;: M!G#ID*XH^MF%^(>)9VYL@-4K6$&?-JI)= MJX#-`\#X99Y5`5.>VL2)FE>=8)"4J"^==YNOKO')G%Y(''J$+GZ+A=_>A.3E M_Q6^>>[!>J<'H5?-'1]I5:9FCW-5N'^8SIXF M^,]*FX9V5)1K-5H(=#OS6_%<4?(O:I*GJ#\4O=]Z*S_8$*<8)\?5KR]]GJN& M,S"8UXKBNV"2Y`^B/.9_0!(/.$4Y]"QY[P.@U$P<_8UP!]HIYK],$ MP&SU^Y"%*&(ZV)=4HH+T\:)K MAI)3Y(MD(8N&M%!`$TBE_.=#DL_^`U*5L M@3(?1%O-05$(N:[&';ET'MN3W.%J$9[9&)Y,;?!H5Q0(,R#R5/*0'&G&6"E; M7DZR+G(/%VU&S5%!$''_0=WZV&/AF'7AR.1]*9&*A#]$+H_I"V26\Z60/TOF M-7ZF\/=?;-]Q9742Z3+YFZ5"D:0I.Q>3\U`KP@8;X/"TRU5=Q00.S MN,3I=)8/@A._1C]>,I78P6U;/!>N^JJ&%J`1[M_F;M[=(GQDBYO2:QNJF):= MF>;&00>97%FALQ3\$FE9A0(A#@C>V33NL=5![.@AC+J0S,S)B7MEZ"2''*-X M6MA#UT8(-9-&OHYJ8=2[$6=@#`R^0+1+(DU1$LV0REKEC5+&50I&NPQRX[@[ M]AY>5FF%8HE=$-VA;[+S2&Q)#W74AZ5_+BEPBR>.+'R-9%$SHQ1KJ9=)S?:V M,QA7R46[O-(<*1V?T^I:Y18&^P0$I#Z_;+:N_PYAO'CGSK&>'=>)'%AQ855U M/9EBJG)&\#2+7C^14VPP7?F6,:EV9T:;4.G%<ZCH"ZU1/)^;5`:_D^H* M7L\U==\4=5_&M&XI,9)YW4.$DICZ?HVD$5CNK6?#M[_!=U;T#\K)9&[QX:+3 M^MU!AL'O(+8"B!F`["AB\A%PS+IPI#&;1:0*-JJ= M<4X2O]/:JCHY]9TW!9V7Q^8$?*\S<"3Q=`OC@N#:S0F6/L!NWN3+R65K[E' MB[9OXVZ.ML0&2(RH(F]3)&8M)/*87$J=/*$/(K21C"B'4B,+^.Q`E*KB."9ROV1O$;9')4$[:&SVO*V,/;=JE% M12<(MX62'"C\`5O["/!+LNSI3"OG#9^US80I:X)2B([9R@C\ ME<.:Z,^6D*F8_6,%&]JQ$2<-4A70NFKN<6WF_&#O_);IO#1^'Q(CQ^8"0A7< MO=UL+2?`2V'GJSO?6]\YK]"F>OH%NO87/_C*O`59K*Y$O@LY)'A9SK`;+Z+8 M&\6Y`9L%Q&Z<)@"V#)!I\/54-QY7OI;ESO/5\"P.R22J\@BL_@+3@L1%D/A(SLK*`Z%.(4C=XC>J<*M(UTJY'Z(W MA8[R@D'&]+IAI26,5#RSZ_G]%"PFOZJ]H5Z$2X<1`J6Y@^&`Y]@SRDTJN MH`J-I$\7;'+[R019KH.*;0!D1+$8FH"A)XQ;X0O8)L=0HMY-KC,(/G@PHJ?Z MKW:>K7:_!9M@I=K(AT2I(J9O^)1'>$57!E=]EX72*K21=T&L636'_>%!ZH@- M@=B2JKFCHW&1V:*'P']U0ORJJ*@3+611SK)2;93$09%``GP4^PVD_]YZD^72 MWZ&6Z,%Z+UG]+5Y/KFCXSHC1S!@..ZE\B"&06`2W'DAL@MBHLGS3&E8SA_6# M'9O\B(0%K`3MEHU6HK[$2%I0FD"@]-+<(UQ"Y[61[#)5M5#>WA^Q_I`Y[HU% MQ+>WJRZ3M0F9+A5(C'X$B0AS&@RXH-7+\)"W8DHL1$P/,28W>62ZL<)4**NK M5(XE#HF1TS`'/#VF%[EDAV+:*/(XU"-Z5<9>A]L`;O$@4Z/^ICAG^4ID14HO M*=ZA7QUO_04VD&*VKA92S#@D1DKT?R$IQH8!MJR=%)NA'N50(RGJ>/=:+=Z* MR;$8+3WDR-Z>+$P'C@FEXF3[)7@$W:C7YVB4MQU?EW%D*R&H&%)JN%&_"7&7O:),YF&`_ZK@X?FCJ5E1"0 M+ZMB0/304;PRQ5M?6ULGLMSJY1RB!I0JC.65Z(V#8X,CM]0XB*WKL!2D_0#0 MMWLOJ!A*=_B*[A0V7=M*4J"[SPY*3X2JSVR^6KGQTT2ZT0L,XM.#FO1E6?75 M"K?<*=%U&;T!3[?8-DC.6]*P"WL\>*+9#S?9;JM/4">=5TC?VVF63"NH7"%5 M3M0T4FK:HG!W3`I65J_1@D>"IYX9/=XK2BK0?7I5NIFR==S%5R79;FXL4O5[ M1FIQ5T"79>'20Y0/=%8\F;**%S1,/)NV)_5$*F1,J6A%/!1,-!W3Y(@X?M!^ M7C=9P8/W7<0I6"]=MQR:HLXS;V"2[$NZSE3S2WHRHI;:KR,1?EL@'&(U;0/= M>A%[Q>1-OI14-><>+;A"O]@$;NFUGWT<#[''CE".31^)`A>1H7 M<*JB,=W*2=>N)-KB?#>EQ273N\P'P>6"AMG?4YW:299?W7(:/SF\/Q*7F>=#9Y<\HN7RZ6D'1^7N&QPF0R:)$?EE0%5T:Q7OXA1]*JE_GJ8L1F_3#GYFY*J MTS":^4Y.JUA@V]FWE"I;Y8I7&SJ\O,CX,/%LUW!]T.4Q$ZY9CFZ.A+B$-Y*%W#64TWODYTRA0S!%5(0/2V=`(C/D+E'+@P M#--.U=8/\(FF2E7!H5=.%*Q0J-#$#$;X[3\Y"LJ&]M7[UQ#O7__B>):WQ`LE MEY'SRIM`KF%`HG[$O1(C8;\_BM^,(\N`K)=(;(.K=WQ@/CZ\`:3VP?X!:M+/ M20(P2`*P)`M&D@`\OX,/.QP!?$/+*@V!Q0V!+%76)WA6JS7#J+>"*X9+#0QI MJ>AZTUJ&V6^J;.6#KY/&9+\R;.7ZWT.`956J;J6CM.;L;R9SY:,ZAJMTV<01 M";O,@'IYEW@EN@XF.=Z6*^O4OJX)^[@`Y!/V/DD[*6RMDS2'U`+J985.;]4V M2](\0UJJN.;]`*-AKZ&:=4W2[<2D-$F7J5O')"W`_F8RUS5)[[N0L/?WG+%YD2DC5Z3[!PN> M]]D==O?ZN]W?+ZA,4HT0F`D")WO-G[+/%\P(Z;O:W!O:TRYWJ]3J46AR2WGBE[+XPB4O^^Y6*?G9K,I) M@!&%>D+81N$;IK?9Z<;DQI]0XPL_GEZVW/2R0%9G4K16RZ2W_>4./X!<%MK, M)3'J#(V.^:V[%T+D@]3F_B[(DW<-RT3>/LZ,X!=J<#+;@/;!FL=^J:=N%VH* M$K<1=:*D(G&F'>S*+FU928F)L^3Q@AR:WJ(!Z'9E"*1GUG MD4.F;+YD@5?"_V!M>2W[+DCT<7*2KFFYA2A5M).E1\5RQ_K5E22V89P/1%<:30PXJL$F,K&1/+SWY=AU)[.VP8V M&#[CT00#2JA"$>("B7$(^!!PIB1D>E@/S\-%#% MMULLK4`\!1<$#RGJ)8O+4^GXA9D[A9GF*%29-*/^W,@*5I5)H@RY"D$\Q*G]`7T$T\6Q\G,QVP^Z6U3`@43;B7HEQKC-,3AQ.+.-W M8K%MD!@'Q#J9&4SM*TI,)PG`B"X*H[>WD5D!VXEV@=I.77T&9_58,TY*)!K$ M?0%RRM/,?[""OUONCI6TF,5ERH_A@^`)7D8_GCI([=!SRU`"`\@4(+;49*X6 MD)EY9"$V=`X\'VP1M%<6-&ERJF!;3CR\8*B7"CGO+9SLHA<_F6) M=^P4]^G$.SU]R)K,+8@.J%P*13APGIC[@_/%9$O*_)%30#ZFL5"1UW<^I(=[&%;%0 M2"9^CB4E#-]C54-E?PFA'7Y!KM^&X/.T(TC(O*)'( MJ%;9(TPN\IRO[AP/#<96UZAOZ;#[;2)U%:F-Z9#PQ4N=,L7MS6+-$<-$?,2T M>MFU@=K,H2:G#*#'4A$26\K7U]4B+4N'_%"IUN*3Y:(6HO:;WQH6%.FRPBW! M$^HZ1K=,G=@XEN/IWOZV(=+V0E`BU1"'`$EUFX0`C[P@#[P*U0K2FZ5=D0@J M4G"Y1^);PVJ9D*MA8;^$[VLS4Q$SY:K77JT318'J^''^,'U<_`8FLQLP_<^O MMP_WT]E"L6)KT[D@V7K1TDJS[&O9N55TT*3HO>?]7K<[%M"@LIO<6T)HYA#F M,J(.G=E*_@F)JMDE\(QS1LC)6Z'C>U_\X!':NR7=%GGC[YZCU(0^]%.;Y"/*L0V$9#L.+K`,'-1)=2SRYR7U M)F'G!\=;NCL;AN#9CU[(WLKXHG%$84!V6<;'V(4?/\E-_>W&,&YZLC/?R98# M8A5DS*K(^.VB'>70DFGO&"REA\\'*R7-UY![FN)%HZ0FO>]]$[ACD5E<:EHO M]T'PQ,MQMU^FJQ;O6SPBG1^-[%!#VISB646U?.[F1$*-3D*(L+Z@<\^M(50S'$<$U-0.CD\B&&B,S51ESBG>?MX5QE,.(>Q5V!B-D8Y0G M(P$FYK54%1DU@HHLQX/VU`H\U.<+T4!WM]FY^!M&?75GR5S\(%!1JK2JO!'C M7G?<2?5%+8+$),C8!+%1-9/"K8(E4\-9:#8;FCQMB9(R+S"AL*A1&1GNLI:D MIG^6JACZ3$&J='OC1!>TGBKJU_;:K/):'JOS),AS-X-+!4.?X!JG(]3APR-V M;RW^PEZDID1>"[@C2)Z>$5^<%YL$J4V]WLFWBYC(Y6GZ,W[W#FYG7^:/]Y/% M[7RF4CDUR)D5E6A@U.C-13;7/T,/!I:+^H03>^-X#C[^/')>*\[0$JPL574B M'@FN"!F,^HGPB%40FR5#G;QAQ:.=UF&/,K#/P3K&C8<_5AZW!B.@>A3."U,X M;$JTB?=&7EDAM*_]#7:E;*J^HK!,[95Z('CZ1]],M(:M`&(&9.THRFG'8J)I MC&R"768L:*$;+KUR.F%'H9679L0^2H_HZWM!3WD(_'5@;:J[?C4KRWZ!)NR9 MV!*(OM'KT-=H5"-[RR`VG>D/RGW-=0JDAB!2A3W?DV&GK<9B?OTW\#A]^/IX M_[B9*NK_--)J^[ZH7("6)-KE;X,[QX"WZD35!4E)09H(]>+K@%H5Q M+]Z_FUH`OV,;@!A1-5P\!HU9#XVTE,HD4BZ=EB-7RGS\*CI\^8(OM*VX#9E; M184:2OP0/";!3.ZRV3.)+*D(7P`QI_P>XY8P%M3BU\`H73D<(I9JB!49Q6I* M[ZUY\$.RYDQ<5>RJ:M3%]$=P&&1V>R4JV]\'E9C526UM8#Y476W,"M1725R& M"OD14ZK&!6<%4Z&0"H4MA-?T](;=OGG0DR/U54NF+HAB!XX-0KH&%JQ52"5@ MVYG^P--#+[YKP^#16;]$(=Y25#K4+"TH?5JCS`O!P:W9Z\93&'LC@%HA&][4 MS6`<"%$\^\!2RGVA@@E:3?E)O0KPW,'IGMJ$' M!:6FH>+3!7>*[&?L,Q8`-:'F]MZCH)#+>Q?X$?1,RMC.7\@.U7)$\C(3BTGY M[%2*7@_J5XY^F!642J'>;>FFV1\Q):'!Z*8%=&8Z*5_0QV>]!,(?M'`#H8=@ M\"KW&FN?A.LKE1/#*<$[)H?=PVY6JBYL6H^70J>$3^7WR^1Q^LO\[F;Z^)\AH@_='ZK)&95EU#D@?Q9_VM"AU$8_ M%!F-/OJV""Q\IOK3^^;9+WXMAW^7P.6#APH283"([YN(*P-:6RZ1CW'>%'/^ MU%QED@(3M1R?BE;XOR`>T4-[\@H#:PUGN\TS#.:K&\?=H4]%;UVI:T5B6U[3 M-<$]H-UD=VMB'L3V`7T`.;R"/D*;BUI.%PDS%PDKCH1'(X&R2'P9!3U.(#EY MP,;/)4M=5RNX)-F&7FKA;Y7M/3]2%=D6:&SK,0QWSR2V@8D[H*+MCT'?('OH=_89^>+9" MB'[Y/U!+`P04````"`!;8ZM`9\@.AOD2``!'?@$`%0`<`'!T`L``00E#@``!#D!``#M76UWXC86 M_K[G]#]XTR^[YY20D.ETDC/3'O(VR]DTY)"TV^Z7.<86H*VQJ&0RH;]^)=M@ M&R1;`H,<1?U0,G`EW_M8+X^D>Z\^_O0R#9QG@`E$X:>CT^.3(P>$'O)A./YT M],MCJ_MXU>L=_?3C-W_[^/=6R[FY_MP=./TP@"%P>JV?083AB_.;!P*`W0@X M3^X+"M%TX3Q@0$`8N1&MU[F#X1]#EX#O'/9_WZ%?_78YN',ZQZ>.,XFBV46[ M_?7KUV/@CUW<0G'MQQZ:MIU6:_GD7Q,=+YSWQZ?OCL]SOPS0//0OG`_G'_QW M)Z>GK5/O`VB]^V'XON5VAM^W//_\9/CA_8>SDW?#7*DK#!+E?*KWA=,Y.>VT M3KYOG9P_=/3-WYQ$^.*% MP$*!KV=+\=/V;S_?/7H3,'5;,"21&WJ%@JPR7M'3\_/S=OQK(DW@!8EKN4-> M#(V$@HY0@OVKM11KL:]:%.&ST^,7XA_]R![X$:,`#,#(B76XB!8S\.F(P.DL M`$?I=Q,,1I^.9A%Y87!W3LZ2\M]>(V\^IF&_DT8P6C1"T<(3V/MCQQ6 M_R^#7L&,&8)A=/;^)&Y>4=I:VTRR+55I>U?5![3DET?:,0![1G]T"T/ZPJ`; M/"`"V2.N`I<0.(+`5[9`LMI#VO#@8J#^*A3JCB8@@IX;U&\5[T.K]K1Y)^GCLAO"ON$-=H9"@ M`/KQ/[JAGY\W(A<,.(PG_SYQS.XO%YK^8J/7;?&%RAZ11&\9]4%=H@(\K+*#^# M8,_]0/'!^\8A&4@IN=ROU:6/V7M/7CV3CLEH.@,AB8>:`0BH"'T')"*/$SKE M73(._>`NXE)[Z?$[:K)OI!XC^I0)"GR`$Z+-^FJ-]O/K/Z!5A`TZT8+)[K?! MRS]S[]:S]C0`LSGV)K15T5%XC-WIGJV7?N;>K0=C]DEU09B-M'NV6^)IJ<6S M'.=AJ_B"Z508A#Y;IR3?LL?6NMB*=:!:4(T*#P[8`A7A(NCI<^-5*`'>\1@] MMWT`VVR=SOZ(%^RMD]-T#?HM_>I+ES[:9X^_#=SQLKK`'8+@T]'F[^V]ZW,U MQVQ)E]B_ M3D_89:WX<3$=HH"C4?'WE3YYKMG%1=U<["TKHG]N$,WBT4,JT9[%^\,M;P*# M%4<=833=AJ,LM4&\@=!!F*Z@XN,S^M^10RT9`4K/_+O$:*&FL9H177R!6)*5 MA`A3%3X==8Z<.:%6HAG3P]6#D^Q\OX2E.)MEJ)R^:5365AD9+)TW#8N`FF7P MG%EX>&N!#*!W%B#^HBZ#Z/LW#=':3)S!\OY-P\*G=!DZ/UAT-A==&3P?WC0\ MXCVZ#*'S-XT0=S6W`N?T;5-DF2V##"OSB#-WBVD)SL9JUN2%52D2Y4UJ"@F.,P5"^O2L:*X% M&>U:2H&Z+JM#Z[1?W`&7@/XP@.-X.*\`NZ)0@^RX1Z&WC2FYP+E:/ M;TK*\#Y3_MJ%96QYM?*C>@"ES13UA! MG\3RS="^D,NNGW7*TVOU@3;:D@W=+%-=M6/IS5 M.G[5J:\\^DU8]^34J9P*^;):M$;A^`G@:>SCGNXKB93FB>K0.:]`>=/F2>K0 MN!]-`.YZ'IXKT(R*0OKLB+<:*MLX7U:;UBK=LZ2`#OT?ECOQE6,0;H'-CKC&4-WJ9DAHM>G)?A,2L(*)'1T'`K9B#EQ;18<,`1'3)`OP; M%X/T(,B2R0*ZK!G=?)T)XCL*!'4JB_GI*R"CTD5U6H3 M+QA#(*1'3\FU5$-63\KK)9D5T@%/R(MG)SP']8J3F-6)><_&2QFQ3ZH#T&BYK)- MU$-SI[(&.Y+J:2"JIT;Y-E-VRF%J.&,MN''/*4R-<*P#,0G_-5/C'W>!3]'I MR-3XR#I:8+F/D*DAE'4@5W9B96IP9?K;$/DFT^IQ/YHFR<;/$<7,VFZ'"KR9#[#R\R=?!4OP>)2 ML.B)9_I)$=_S\,WEZ*F&HZPCFINB1]Z1ZS&ETUW6U:#C3Q+&>ZD_0V^&S.I*;[ M0F^/$C^AOJ'^SG(P"9::IKLT*X-3ULW,=&[8$J+EDMG4JV%VA$BE3#@&VQ_4S M1H0\8#02)NO+2VC)3CZ=N1`G,P.+++^#S_0-QDZ/_P*!?XOP+T2TKRA75D_. M=3;'W5%H;RDS2"+4YK2I]F<`)X$>EV"$,$CDXFP>/\,PGK-[(9W)`6$IO(JU M)(?X/P.Z@O-9+AF21,")L#F@!OH07M&*BI%")*U/W"8`W8,H&PH$(!9EM&273L:V<%RI M*T]26S[L>[I.*NHCTEH@K2<[,`%T1U.K0N9M8M1M4B``NW\ M!2K%1F3ZT?TNK6QCM\;T$_P:VIEX6#;]7%]JK[5R4#,_$E9R3U2B8^X:2]U\ MK"IV@][BV:SU>-S*X2%;$5H7(MZ9J9S74*S3?$7D$TQB!MX.:9N,QZ17#4OA M8,7TI(9RD,CN5\@Y#1G?@BHVT.32&!J/DN3QH%SR0N/1XFZ`FYZ:4+(AK9]= MR:4C-+[)B$_*3,]`*-FE1"E&T^!W1TV"UYH3DCFG3%G61'+/>+V\NC=!P) M=Z<(1_"ON'&P$(/(#<>0-O#EY99\Z\L+:Q3]#B*6*$P4O"!;7(]M4O=J"@R3*6ND55\Z#;*+\@?(6+F'6>+Z:Y!\*IDG MJ$*'C=>`3BH>C`<`^G<`XHDX]/,#@\`VJ:(V`(&E"V>S2#^\AF26AD[V1Z7# M+K0Z2-*ZFB&38N+^%6,2I? MIAE6K%9?*=^OCGZ2K:`A]O'O99$W3U"^0=9E"^@R*B19N!EV/21WDR\'..Z- M[M)V2E6F,PBN9!5>$+$A9*MM>=Y&4II7);^1)$!5H8)FVU1311I3RN M42RO)9>RNTC/3KK>GW.(`6T4M!E$BX?`#9EC`]OVC/WZ!.8H5*`G5S3R`/!C MKPR6%X]E@NV/!*+Q%>`#\N9=L\*XG&%Y35ZFHGF!R#XW# M=+98GHPSO3*WS(MQ%<@KB60/`U>`SX= M"=FD57:^)!"V`?M*>?97_ASR^?4WB]BD`V5ZTMD\29E[*M0R)Z+3]6F??C6% MV*#R,T^Y&TE?L9OFH7"6.[TW_3K&0Z%=LE*3N]'1MNA*C,L9I-R-D!9F( M5IB?F1FUH>X"4HXDS]5,+N_0*Y[OZ@:QX$LDERW$HJ?H+6)\NI&Z8>4Z7,HE M*+$H5KAH&9^Y9%^-L>`G:WQFDWU-UJNC#KEL)Y;MR#@V[Y8=Y>UA*73-EM-I9PQ3$]"4S^8`C\=T]/5U`.DV+U`+O?,*V8MNP$H M[VMB?)::>EJBBKN\Z2ENMG?%+@R2"LZ:T]/0U]9@I2-Q=KL$H?E#@'3*O^W;XIF9 MFV@[(5ZF5>ZO@`Z@FE M*PHW6`%`^GCLAJD+\A4*"0J@[Z;13P\Y=?HC3N%K2+P`$3HT/5'M+@-V/&A( MGM*F9$P2Q&*+7Z@@/%6VE);,'76WP:+I>WN,C:#><_2Q][*]P\VI:AKR9T/%2NR& MHV7*ED5:%MFH^=ZSA;G!YQEI:Q#)" MRP@M([2,T#+"/47L6?YG^9_E?RH^AZL.$V?*6]U+D28)O4(D(MG-%:OD45I] M$W=4F3\_[EJKW7JT1-,234LT&S4E6J)9MZ_CKG./Y:*6BUHNRA^.XDP:$Q10 MXP=P/(D(QWG1?$'+[2RW:S)$:,%D#3Y'MA3.4CA]%*XN/64[K<@$V?*6'%IRV&2(U#;^%/J- MY8R6,UK.*.",;&]\`&9S[$U&F-W:CGC&^>,HNTIZ=;"V[*2+FSYK3WZ M-6YZL@RPUNU!^9'(TC]+_RS]$]`_,&:?M",AS(*V+/%[X\2O)G(BT:P$C$6B MI*6'EAX:-WU9>ECW!J',&&2YH>6&S>>&']M,SR%=Y]!__!]02P,$%`````@` M6V.K0#0V##]K!P``F#$``!$`'`!P='-X+3(P,3(P,S,Q+GAS9%54"0`#S3VM M3\T]K4]U>`L``00E#@``!#D!``#M6E%SXC@2?M^J_0\Z7FZW:HPQ)-E`);-% MP$FH)<`9S]W,ODP)6X!JC<3*<@+[Z[(PS=[M3QTMB2_VUNON36Q+J MFY]7BP`]$Q%2SFXK5K56081YW*=L=EOY,#;:XTZO5_GY_???W?S#,)#=?6@[ M:,@"R@CJ&4]$"KI"'ST2$($E02Y><<87:S3VYF2!WZ$)#HF/.$,?[YP^JEO M_8N:91F6=TV,BY\F5P:N3RX-SV_6)M=7UXW:Q22%Z@B")2A$/AC:0O6:53=J MET:MZ=8;K8MZJU'_-2W-EVM!9W.)?O!^!&&0!(2U$X!WJ,>\*FH'`7*4:(@< M$A+Q3/QJHBG444`08Q;>5E*.OS2J7,Q,T&N9'Y_Z<;0JWW^'8MG6:B("NH-0 M+1M,PZ0LE)AY)`4!BW[+0:AN149ZD`-(8I;5;#9-W9N2CD)CAO%R*S_%X41+ M)QVFBH]1LXR&M8N2ZR4),V&Z)QNWE.%JQ[0EITPVKFIZFBCR:HT=`..,18OL M`/A2F&HL$X0,D"*">FGHEW$'&"7CRRTL'>M+,^Y,27LP8Z58[XJ'Q*O.^+.9 M=&;'P2++IGB M*(`Q?X]P0*>4^!6$):2&223)CD#$7D7>*RTWF#$N]8>IWU7+OT*`F M8DOP@+C`!5(/'YS><2MEDH-,)6EVN1SRR90RJNVW:A8RT`:>?@15*-:%4LINS'T-^\HC2)Y#]EX_>SCPHD`# M^_">@!.)/.!20%9BL@3RU;+CN*1U0\]78FT,YNKI-9S>4P:9CN)@Q$-M2R?` M89C,,L6;`X#/!0'Y]#6`LZTB>.X,!UU[,+:[ZFD\[/>Z;1=>[MK]]J!CH_&C M;;OC,XMO9'&$!8C,B:00G),IU>@O\'I1AE?TPXYA/YYY+L(S[(CX@F2SF/3E M[`'P-+Q'PY'MM-T>")Q9*L)2!X?S^X"_A#WF4T$\F4W8H5@^ M=U=EN.NTQX_HOC_\SYF[X]P-N"2AR[=Y4%^_M)D_ M2GF:2J*OX"X-O8"'D2`N61NW! MI_.D*3%INF0BRW)_#)M/X?4^A?WAX`&YMO.$NO:=B]J#+AH,77N,1NU/[;N^ M?>:U!*\CP9=$R/4HP$S"MVC_'M&E/M.4)/LDA?DSH+D_`T:.6K;=3YI[^U\? M>B.U)IQY+\%[AR\65.I'(`DRLJ1L1D"(E$[Q)ZK,Y=ZJ[7,/R?NIY\9[`$4_ M[`_:Y_>W@`(MI';_GAFL]P"O8TF M[,+Y8DE8J#US",2&P.<8RG`\A_/IG?I]?837&G7B0O[&,?+G1'U_3HS=8><7 M.*FI8QH:P4G[7=QDW+7C$\+3",X*^A1WGC(EILQ8`BES'OA$Q+<1:LTN-!&R MD?GT-K+I=7H/CY#2%;UG$M]&8JCV6G*M9,NF].+:\LF^."#[L>W8C\-^UW;^ M.=9[-_=\$"O%M\JO#EE&PIM#EH7M]DS@16F^"VO+Y_ORR,=MCSXXG4=(U^J`9/M!;]C/@*BN%L%&1%*I1NF\ZD%*4?@.X2"HF']?SW=I+.`X`#(< M[V[5?"-^!WA"@H(N@VR&RWVEX1OQ=O\S+^`T0#*<3O_$G.7[C9FN(8"WW1J# M&W`=LB9BF14/1PIM4%S+T^>>5I0#46_&!F>H)L.J&PVKN@K]Q,13+'B-]&D6 M;'"G6I!9RE)T[`U`#7I9:+C<>J!CP^HA,PN03!+(<*O+>-5U>O0/JG\*!6$? MI2+15.&WKMYB0JIPZ40S.!N4LR2OP.L-Q*B64WGY4KU4KCE9N,W+FPS9*\$J M9,0&HQ[>-/AA*5>A\5.PY/F(%4EYES9#KZQ$".(_8,J&;(P#,IPZ!`=VJ':D MG4BH2HEXXZH2^.>"\O%2I(L=6PO.B,1BW8,=KMJG51">A%)@3]Y6ICC02XT6 MA"6(/Z@#/O1._3D&\B``7JXMJ)I>D@G`1+!P+:X$23%8;8A\,H^)%("OF^ M@K_'#UT97A81_AOY-A+\F:JRZGLN'.)'7GQ+W^711$ZCH.WIO!BF'"R,>/-4 M?G7TOS>7X;R<_(ZMJEN65.*@3V"3-)P$=*9'3_M>2/J;\/O$WYFT]R=@XAC$ M)=@MN6DO&86OX>[QW\)CU[+[_V(W;LQX!8?'/P%02P$"'@,4````"`!;8ZM` MD>9W:T5D```QS`,`$0`8```````!````I($`````<'1S>"TR,#$R,#,S,2YX M;6Q55`4``\T]K4]U>`L``00E#@``!#D!``!02P$"'@,4````"`!;8ZM`;AWB MX9\+```!E@``%0`8```````!````I(&09```<'1S>"TR,#$R,#,S,5]C86PN M>&UL550%``/-/:U/=7@+``$$)0X```0Y`0``4$L!`AX#%`````@`6V.K0,]Z MHK=7$@``1T$!`!4`&````````0```*2!?G```'!T`Q0````(`%MCJT!7 M?YC!8B,``&G``0`5`!@```````$```"D@22#``!P='-X+3(P,3(P,S,Q7VQA M8BYX;6Q55`4``\T]K4]U>`L``00E#@``!#D!``!02P$"'@,4````"`!;8ZM` M9\@.AOD2``!'?@$`%0`8```````!````I('5I@``<'1S>"TR,#$R,#,S,5]P M&UL550%``/-/:U/=7@+``$$)0X```0Y`0``4$L!`AX#%`````@`6V.K M0#0V##]K!P``F#$``!$`&````````0```*2!';H``'!T'-D550%``/-/:U/=7@+``$$)0X```0Y`0``4$L%!@`````&``8`&@(``-/! $```````` ` end XML 17 R2.htm IDEA: XBRL DOCUMENT v2.4.0.6

CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)
In Thousands, unless otherwise specified

Mar. 31, 2012

Jun. 30, 2011

Current assets:

Cash and cash equivalents $ 42 $ 355 ^[1]

Accounts receivable, net of allowances for doubtful accounts of $320 and $351, respectively 7,186 6,347 ^[1]

Inventories, net 346 517 ^[1]

Prepaid expenses and other current assets 743 216 ^[1]

Prepaid income taxes 70 68 ^[1]

Total current assets 8,387 7,503 ^[1]

Property and equipment, net 18,055 17,153 ^[1]

Other assets, net 732 739 ^[1]

Total assets 27,174 25,395 ^[1]

Current liabilities:

Current portion of notes payable 1,343 1,473 ^[1]

Current portion of capital lease obligations 195 236 ^[1]

Accounts payable 1,444 1,274 ^[1]

Accrued wages and benefits 1,520 1,058 ^[1]

Other accrued expenses 314 399 ^[1]

Current portion of deferred gain on sale of real estate 178 178 ^[1]

Current portion of deferred lease incentive 207

Total current liabilities 5,201 4,618 ^[1]

Notes payable, less current portion 9,255 9,541 ^[1]

Capital lease obligations, less current portion 47 170 ^[1]

Deferred gain on sale of real estate, less current portion 1,420 1,554 ^[1]

Deferred lease incentive, less current portion 1,654

Other long-term liabilities 23 23 ^[1]

Total long-term liabilities 12,399 11,288 ^[1]

Total liabilities 17,600 15,906 ^[1]

Commitments and contingencies (Note 4) ^[1]

Shareholders' equity:

Preferred stock - no par value; 5,000,000 shares authorized; none outstanding ^[1]

Common stock - no par value; 50,000,000 shares authorized; 10,513,166 shares issued and outstanding on March 31, 2012 and June 30, 2011 21,695 21,695 ^[1]

Additional paid-in capital 10,377 10,125 ^[1]

Accumulated deficit (22,498) (22,331) ^[1]

Total shareholders' equity 9,574 9,489 ^[1]

Total liabilities and shareholders' equity $ 27,174 $ 25,395 ^[1]

[1] Amounts derived from audited financial statements

X

- Definition

Deferred Gain On Sale Of Real Estate, Current

+ References

No definition available.

+ Details

Name: ptsx_DeferredGainOnSaleOfRealEstateCurrent

Namespace Prefix: ptsx_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition

Deferred Gain On Sale Of Real Estate, Noncurrent

+ References

No definition available.

+ Details

Name: ptsx_DeferredGainOnSaleOfRealEstateNoncurrent

Namespace Prefix: ptsx_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 19

-Subparagraph a

-Article 5

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.19(a))

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_AccountsPayableCurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition

Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 3

-Subparagraph a(1)

-Article 5

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 4

-Article 5

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.3-4)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_AccountsReceivableNetCurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition

Excess of issue price over par or stated value of the entity's capital stock and amounts received from other transactions involving the entity's stock or stockholders. Includes adjustments to additional paid in capital. Some examples of such adjustments include recording the issuance of debt with a beneficial conversion feature and certain tax consequences of equity instruments awarded to employees. Use this element for the aggregate amount of additional paid-in capital associated with common and preferred stock. For additional paid-in capital associated with only common stock, use the element additional paid in capital, common stock. For additional paid-in capital associated with only preferred stock, use the element additional paid in capital, preferred stock.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 31

-Article 5

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.30(a)(1))

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_AdditionalPaidInCapital

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition

Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 7

-Section 03

-Paragraph 12

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Topic 210

-SubTopic 10

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

-Section S99

-Name Accounting Standards Codification

-Publisher FASB

-Paragraph 1

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Concepts (CON)

-Number 6

-Paragraph 25

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 18

-Article 5

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.18)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_Assets

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition

Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section 45

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6361293&loc=d3e6801-107765

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Section 45

-SubTopic 10

-Topic 210

-URI http://asc.fasb.org/extlink&oid=6361293&loc=d3e6676-107765

-Publisher FASB

-Name Accounting Standards Codification

-Paragraph 1

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 9

-Article 5

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.9)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section 45

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6361293&loc=d3e6676-107765

+ Details

Name: us-gaap_AssetsCurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Details

Name: us-gaap_AssetsCurrentAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

Amount equal to the present value (the principal) at the beginning of the lease term of minimum lease payments during the lease term (excluding that portion of the payments representing executory costs such as insurance, maintenance, and taxes to be paid by the lessor, together with any profit thereon) net of payments or other amounts applied to the principal, through the balance sheet date and due to be paid within one year (or one operating cycle, if longer) of the balance sheet date.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 840

-SubTopic 30

-Section 50

-Paragraph 1

-Subparagraph (b)

-URI http://asc.fasb.org/extlink&oid=6455398&loc=d3e45280-112737

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 840

-SubTopic 30

-Section 45

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6455314&loc=d3e45023-112735

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 13

-Paragraph 7, 10, 13

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 19

-Article 5

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.20)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_CapitalLeaseObligationsCurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition

Amount equal to the present value (the principal) at the beginning of the lease term of minimum lease payments during the lease term (excluding that portion of the payments representing executory costs such as insurance, maintenance, and taxes to be paid by the lessor, together with any profit thereon) net of payments or other amounts applied to the principal, through the balance sheet date and due to be paid more than one year (or one operating cycle, if longer) after the balance sheet date.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 840

-SubTopic 30

-Section 45

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6455314&loc=d3e45023-112735

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.22)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 13

-Paragraph 7, 10, 13

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 22

-Article 5

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 840

-SubTopic 30

-Section 50

-Paragraph 1

-Subparagraph (b)

-URI http://asc.fasb.org/extlink&oid=6455398&loc=d3e45280-112737

+ Details

Name: us-gaap_CapitalLeaseObligationsNoncurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition

Includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the Entity may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Compensating balance arrangements that do not legally restrict the withdrawal or usage of cash amounts may be reported as Cash and Cash Equivalents, while legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits are not generally reported as cash and cash equivalents. Includes cash and cash equivalents associated with the entity's continuing operations. Excludes cash and cash equivalents associated with the disposal group (and discontinued operation).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.1)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 1

-Article 5

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 7

-Footnote 1

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 4

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3044-108585

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 8, 9

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section 45

-Paragraph 1

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=6361293&loc=d3e6676-107765

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Cash

-URI http://asc.fasb.org/extlink&oid=6506951

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 7, 26

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Cash Equivalents

-URI http://asc.fasb.org/extlink&oid=6507016

+ Details

Name: us-gaap_CashAndCashEquivalentsAtCarryingValue

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition

Represents the caption on the face of the balance sheet to indicate that the entity has entered into (1) purchase or supply arrangements that will require expending a portion of its resources to meet the terms thereof, and (2) is exposed to potential losses or, less frequently, gains, arising from (a) possible claims against a company's resources due to future performance under contract terms, and (b) possible losses or likely gains from uncertainties that will ultimately be resolved when one or more future events that are deemed likely to occur do occur or fail to occur.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 942

-SubTopic 210

-Section S99

-Paragraph 1

-Subparagraph (SX 210.9-03.17)

-URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 03

-Paragraph 17

-Article 9

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 7

-Section 03

-Paragraph 19

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 25

-Article 5

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 944

-SubTopic 210

-Section S99

-Paragraph 1

-Subparagraph (SX 210.7-03.(a),19)

-URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 450

-SubTopic 20

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6952336&loc=d3e14326-108349

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 5

-Paragraph 8, 9

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.25)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_CommitmentsAndContingencies

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition

Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 30

-Article 5

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.29)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_CommonStockValue

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition

For a classified balance sheet, the cumulative difference as of the balance sheet date between the payments required by a lease agreement and the rental income or expense recognized on a straight-line basis, or other systematic and rational basis more representative of the time pattern in which use or benefit is granted or derived from the leased property, expected to be recognized in income or expense, by the lessor or lessee, respectively, within one year of the balance sheet date.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 840

-SubTopic 20

-Section 25

-Paragraph 2

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=6453417&loc=d3e39927-112707

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name FASB Technical Bulletin (FTB)

-Number 85-3

-Paragraph 2

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 13

-Paragraph 19

-Subparagraph b

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.20)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_DeferredRentCreditCurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition

For a classified balance sheet, the cumulative difference between the rental income or payments required by a lease agreement and the rental income or expense recognized on a straight-line basis, or other systematic and rational basis more representative of the time pattern in which use or benefit is granted or derived from the leased property, expected to be recognized in income or expense, by the lessor or lessee, respectively, more than one year after the balance sheet date.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.26(c))

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name FASB Technical Bulletin (FTB)

-Number 85-3

-Paragraph 2

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 13

-Paragraph 19

-Subparagraph b

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 840

-SubTopic 20

-Section 25

-Paragraph 2

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=6453417&loc=d3e39927-112707

+ Details

Name: us-gaap_DeferredRentCreditNoncurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition

Total of the carrying values as of the balance sheet date of obligations incurred through that date and payable for obligations related to services received from employees, such as accrued salaries and bonuses, payroll taxes and fringe benefits. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 20

-Article 5

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.20)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_EmployeeRelatedLiabilitiesCurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition

Carrying amount (lower of cost or market) as of the balance sheet date of inventories less all valuation and other allowances. Excludes noncurrent inventory balances (expected to remain on hand past one year or one operating cycle, if longer).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.6(a))

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 330

-SubTopic 10

-Section 35

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6386567&loc=d3e3927-108312

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section 45

-Paragraph 1

-Subparagraph (b)

-URI http://asc.fasb.org/extlink&oid=6361293&loc=d3e6676-107765

+ Details

Name: us-gaap_InventoryNet

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition

Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.19-26)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_Liabilities

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition

Total of all Liabilities and Stockholders' Equity items (or Partners' Capital, as applicable), including the portion of equity attributable to noncontrolling interests, if any.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 32

-Article 5

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.32)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 7

-Section 03

-Paragraph 25

+ Details

Name: us-gaap_LiabilitiesAndStockholdersEquity

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition

Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 21

-Article 5

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.21)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_LiabilitiesCurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Details

Name: us-gaap_LiabilitiesCurrentAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

Total obligations incurred as part of normal operations that is expected to be repaid beyond the following twelve months or one business cycle.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 22, 23, 24, 25, 26, 27

-Article 5

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.22-26)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_LiabilitiesNoncurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition

Carrying value as of the balance sheet date of notes payable (with maturities initially due after one year or beyond the operating cycle if longer), excluding current portion.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 22

-Article 5

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.22)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_LongTermNotesPayable

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition

Sum of the carrying values as of the balance sheet date of the portions of long-term notes payable due within one year or the operating cycle if longer.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 19, 20

-Article 5

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.19,20)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_NotesPayableCurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition

Carrying value as of the balance sheet date of obligations incurred through that date and payable arising from transactions not otherwise specified in the taxonomy. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section 45

-Paragraph 8

-URI http://asc.fasb.org/extlink&oid=6361293&loc=d3e6935-107765

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.20)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 43

-Chapter 3

-Section A

-Paragraph 7

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section 45

-Paragraph 6

-URI http://asc.fasb.org/extlink&oid=6361293&loc=d3e6911-107765

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 20

-Article 5

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Current Liabilities

-URI http://asc.fasb.org/extlink&oid=6509677

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section 45

-Paragraph 9

-URI http://asc.fasb.org/extlink&oid=6361293&loc=d3e7018-107765

+ Details

Name: us-gaap_OtherAccruedLiabilitiesCurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition

Aggregate carrying amount, as of the balance sheet date, of noncurrent assets not separately disclosed in the balance sheet. Noncurrent assets are expected to be realized or consumed after one year (or the normal operating cycle, if longer).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 17

-Article 5

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.17)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_OtherAssetsNoncurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition

Aggregate carrying amount, as of the balance sheet date, of noncurrent obligations not separately disclosed in the balance sheet. Noncurrent liabilities are expected to be paid after one year (or the normal operating cycle, if longer).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 24

-Article 5

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.24)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_OtherLiabilitiesNoncurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition

Aggregate par or stated value of issued nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable preferred shares, par value and other disclosure concepts are in another section within stockholders' equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 129

-Paragraph 2, 3, 4, 5, 6, 7, 8

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.3-04)

-URI http://asc.fasb.org/extlink&oid=6959260&loc=d3e187085-122770

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Principles Board Opinion (APB)

-Number 12

-Paragraph 10

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.28)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 04

-Article 3

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 5

-Section 02

-Paragraph 29

+ Details

Name: us-gaap_PreferredStockValue

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition

The total of the amounts paid in advance for capitalized costs that will be expensed with the passage of time or the occurrence of a triggering event, and will be charged against earnings within one year or the normal operating cycle, if longer, and the aggregate carrying amount of current assets, as of the balance sheet date, not separately presented elsewhere in the balance sheet. Current assets are expected to be realized or consumed within one year (or the normal operating cycle, if longer).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 8

-Article 5

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 43

-Section A

-Paragraph 4

-Chapter 3

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Section 45

-SubTopic 10

-Topic 210

-URI http://asc.fasb.org/extlink&oid=6361293&loc=d3e6676-107765

-Publisher FASB

-Name Accounting Standards Codification

-Paragraph 1

+ Details

Name: us-gaap_PrepaidExpenseAndOtherAssetsCurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition

Carrying amount as of the balance sheet date of payments made in advance for income and other taxes, which will be charged against earnings within one year or the normal operating cycle, if longer.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 340

-SubTopic 10

-Section 05

-Paragraph 5

-URI http://asc.fasb.org/extlink&oid=6386993&loc=d3e5879-108316

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 340

-SubTopic 10

-Section 05

-Paragraph 4

-URI http://asc.fasb.org/extlink&oid=6386993&loc=d3e5865-108316

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 43

-Section A

-Paragraph 4

-Chapter 3

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section 45

-Paragraph 1

-Subparagraph (g)(4)

-URI http://asc.fasb.org/extlink&oid=6361293&loc=d3e6676-107765

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Current Assets

-URI http://asc.fasb.org/extlink&oid=6509628

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section 45

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6361293&loc=d3e6787-107765

+ Details

Name: us-gaap_PrepaidTaxes

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition

Tangible assets that are held by an entity for use in the production or supply of goods and services, for rental to others, or for administrative purposes and that are expected to provide economic benefit for more than one year; net of accumulated depreciation. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.13)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 7

-Section 03

-Paragraph 8

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 13

-Subparagraph a

-Article 5

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 12

-Paragraph 5

-Subparagraph b, c

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 360

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229

+ Details

Name: us-gaap_PropertyPlantAndEquipmentNet

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition

The cumulative amount of the reporting entity's undistributed earnings or deficit.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.31(a)(3))

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Principles Board Opinion (APB)

-Number 12

-Paragraph 10

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 31

-Article 5

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 04

-Article 3

+ Details

Name: us-gaap_RetainedEarningsAccumulatedDeficit

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.29-31)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph A3

-Appendix A

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 29, 30, 31

-Article 5

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Staff Accounting Bulletin (SAB)

-Number Topic 4

-Section E

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 310

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SAB TOPIC 4.E)

-URI http://asc.fasb.org/extlink&oid=6228006&loc=d3e74512-122707

+ Details

Name: us-gaap_StockholdersEquity

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Details

Name: us-gaap_StockholdersEquityAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

XML 18 R6.htm IDEA: XBRL DOCUMENT v2.4.0.6

THE COMPANY
9 Months Ended

Mar. 31, 2012

THE COMPANY

Note 1 – THE COMPANY

The Company provides high definition and standard definition digital mastering, data conversion, video and film asset management and sophisticated computer graphics services to owners, producers and distributors of entertainment and advertising content. The Company provides the services necessary to edit, master, reformat, convert, archive and ultimately distribute its clients’ film and video content, including television programming feature films and movie trailers. The Company’s interconnected facilities provide service coverage to all major U.S. media centers. Clients include major motion picture studios and independent producers. The Company also rents and sells DVDs and video games directly to consumers through its Movie>Q retail stores.

The Company operates in two business segments from four post production and three Movie>Q locations. Each post production location is electronically tied to the others and serves the same customer base. Depending on the location size, the production equipment consists of tape duplication, feature movie and commercial ad editing, encoding, standards conversion, and other machinery. Each location employs personnel with the skills required to efficiently run the equipment and handle customer requirements. While all locations are not exactly the same, an order received at one location may be fulfilled at one or more “sister” facilities to use resources in the most efficient manner.

Typically, a feature film or television show or related material will be submitted to a facility by a motion picture studio, independent producer, advertising agency, or corporation for processing and distribution. A common sales force markets the Company’s capability for all facilities. Once an order is received, the local customer service representative determines the most cost-effective way to perform the services considering geographical logistics and facility capabilities.

In fiscal 2010, the Company purchased assets and intellectual property for a research and development project to address the viability of the DVD and video game rental business being abandoned by the closure of Movie Gallery/Hollywood Video and Blockbuster stores. The DVD rental market consists principally of online services (Netflix), vending machines (Redbox) and other video stores.

As of March 31, 2012, the Company had opened three Movie>Q “proof-of-concept” stores in Southern California. The stores employ an automated inventory management (“AIM”) system in a 1,200-1,600 square foot facility. By saving space and personnel costs which caused the big box stores to be uncompetitive with lower priced online and vending machine rental alternatives, Movie>Q can offer up to 10,000 unit selections to a customer at competitive rental rates. Movie>Q provides online reservations, an in-store destination experience, first run movie and game titles and a large unit selection (as opposed to 400-700 for a Redbox vending machine).

Based on the success of the proof-of-concept, the Company may seek to rapidly expand the number of Movie>Q stores while further streamlining the design and production of the AIM system. Movie>Q provides the Company with a content distribution capability complimentary to the Company’s post production business.

The accompanying unaudited Condensed Consolidated Financial Statements include the accounts and transactions of the Company, including those of the Company’s subsidiaries. The statements have been prepared in accordance with accounting principles generally accepted in the United States of America and by the Securities and Exchange Commission’s rules and regulations for reporting interim financial statements and footnotes. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. All intercompany balances and transactions have been eliminated in the Condensed Consolidated Financial Statements. Operating results for the three and nine month periods ended March 31, 2012 are not necessarily indicative of the results that may be expected for the fiscal year ending June 30, 2012. These financial statements should be read in conjunction with the financial statements and related notes contained in the Company’s Form 10-K for the period ended June 30, 2011.

Pro Forma Earnings (Loss) Per Share

A reconciliation of the denominator of the basic EPS computation to the denominator of the diluted EPS computation is as follows (in thousands):

Three Months
Ended
March 31, Three Months
Ended
March 31, Nine Months
Ended
March 31, Nine Months
Ended
March 31,

2012 2011 2012 2011

Pro forma weighted average of number of shares

Weighted average number of common shares outstanding
used in computation of basic EPS 10,513 10,763 10,513 10,686

Dilutive effect of outstanding stock options - - - -

Weighted average number of common and potential
Common shares outstanding used in computation of
Diluted EPS 10,513 10,763 10,513 10,686

Effect of dilutive options excluded in the computation
of diluted EPS due to net loss 113 - 63 32

The weighted average number of common shares outstanding was the same amount for both basic and diluted income or loss per share in the three and nine month periods ended March 31, 2011. The effect of potentially dilutive securities for the nine month period ended March 31, 2011 were excluded from the computation of diluted earnings per share because the Company reported a net loss, and the effect of inclusion would be anti-dilutive (i.e., including such securities would result in a lower loss per share). Options to purchase 2,496,225 shares were outstanding at March 31, 2012. Diluted weighted average shares outstanding exclude outstanding stock options whose exercise price is in excess of the average price of the Company’s stock price. These options are excluded from the respective computations of diluted net income or loss per share because their effect would be anti-dilutive. The number of potentially dilutive shares at March 31, 2012 and 2011, was 1,540,094 and 651,675, respectively.

Fair Value Measurements

The Company follows a framework for consistently measuring fair value under generally accepted accounting principles, and the disclosures of fair value measurements. The framework provides a fair value hierarchy to classify the source of the information.

The fair value hierarchy is based on three levels of inputs, of which the first two are considered observable and the last unobservable, that may be used to measure fair value and include the following:

Level 1 – Quoted prices in active markets for identical assets or liabilities.

Level 2 – Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.



Level 3 – Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

Cash, the only Level 1 input applicable to the Company (there are no Level 2 or 3 inputs), is stated on the Condensed Consolidated Balance Sheets at fair value.

As of March 31, 2012 and June 30, 2011, the carrying value of cash and cash equivalents, accounts receivable, accounts payable, accrued expenses and interest payable approximates fair value due to the short-term nature of such instruments. The carrying value of other long-term liabilities approximates fair value as the related interest rates approximate rates currently available to the Company.

Recent Accounting Pronouncements

In September 2011, the FASB issued Accounting Standards Update No. 2011-08, “Testing Goodwill for Impairment” (ASU No. 2011-08), which is intended to simplify goodwill impairment testing. Entities will be allowed to perform a qualitative assessment on goodwill impairment to determine whether a quantitative assessment is necessary. The revised standard is effective for annual and interim goodwill impairment tests performed for fiscal years beginning after December 15, 2011. The adoption of ASC No. 2011-08 will not impact our financial position, results of operations, cash flows, or presentation thereof.

In May 2011, the FASB issued ASU No. 2011-04, “Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRSs” ("ASU No. 2011-04"), which amends ASC Topic 820, “Fair Value Measurement”. ASU No. 2011-04 does not extend the use of fair value accounting, but provides guidance on how it should be applied where its use is already required or permitted by other standards within U.S. GAAP or International Financial Reporting Standards (“IFRSs”). ASU No. 2011-14 changes the wording used to describe many requirements in U.S. GAAP for measuring fair value and for disclosing information about fair value measurements. Additionally, ASU No. 2011-14 clarifies the FASB's intent about the application of existing fair value measurements. ASU No. 2011-04 is effective for interim and annual periods beginning after December 15, 2011, and is applied prospectively. We adopted this guidance at the beginning of our third quarter of fiscal year 2012. The adoption of ASU No. 2011-04 did not have a material impact on our financial position, results of operations or cash flows.

X

- Definition

The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 720

-SubTopic 15

-URI http://asc.fasb.org/subtopic&trid=2122524

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 810

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6921930&loc=d3e5614-111684

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 810

-SubTopic 10

-Section 50

-Paragraph 8

-URI http://asc.fasb.org/extlink&oid=6970148&loc=SL6228881-111685

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Name Statement of Position (SOP)

-Publisher AICPA

-Number 94-6

-Paragraph 10

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 272

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6373374&loc=d3e70478-108055

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 205

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6359566&loc=d3e326-107755

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name FASB Staff Position (FSP)

-Number FAS140-4/FIN46(R)-8

-Paragraph 8, C1, C7

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Name FASB Interpretation (FIN)

-Publisher FASB

-Number 46R

-Paragraph 4, 14, 15

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 852

-SubTopic 10

-URI http://asc.fasb.org/subtopic&trid=2209116

Reference 10: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 275

-SubTopic 10

-URI http://asc.fasb.org/subtopic&trid=2134480

Reference 11: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 2-6

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 12: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 915

-SubTopic 235

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6472506&loc=d3e38932-110933

Reference 13: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 205

-SubTopic 10

-URI http://asc.fasb.org/subtopic&trid=2122150

Reference 14: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 205

-SubTopic 10

-Section 45

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6359553&loc=d3e288-107754

Reference 15: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6367646&loc=d3e18780-107790

Reference 16: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 810

-SubTopic 10

-URI http://asc.fasb.org/subtopic&trid=2197480

+ Details

Name: us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

XML 19 Show.js IDEA: XBRL DOCUMENT /** * Rivet Software Inc. * * @copyright Copyright (c) 2006-2011 Rivet Software, Inc. All rights reserved. * Version 2.1.0.1 * */ var moreDialog = null; var Show = { Default:'raw', more:function( obj ){ var bClosed = false; if( moreDialog != null ) { try { bClosed = moreDialog.closed; } catch(e) { //Per article at http://support.microsoft.com/kb/244375 there is a problem with the WebBrowser control // that somtimes causes it to throw when checking the closed property on a child window that has been //closed. So if the exception occurs we assume the window is closed and move on from there. bClosed = true; } if( !bClosed ){ moreDialog.close(); } } obj = obj.parentNode.getElementsByTagName( 'pre' )[0]; var hasHtmlTag = false; var objHtml = ''; var raw = ''; //Check for raw HTML var nodes = obj.getElementsByTagName( '*' ); if( nodes.length ){ objHtml = obj.innerHTML; }else{ if( obj.innerText ){ raw = obj.innerText; }else{ raw = obj.textContent; } var matches = raw.match( /<\/?[a-zA-Z]{1}\w*[^>]*>/g ); if( matches && matches.length ){ objHtml = raw; //If there is an html node it will be 1st or 2nd, // but we can check a little further. var n = Math.min( 5, matches.length ); for( var i = 0; i < n; i++ ){ var el = matches[ i ].toString().toLowerCase(); if( el.indexOf( '= 0 ){ hasHtmlTag = true; break; } } } } if( objHtml.length ){ var html = ''; if( hasHtmlTag ){ html = objHtml; }else{ html = ''+ "\n"+''+ "\n"+' Report Preview Details'+ "\n"+' '+ "\n"+''+ "\n"+''+ objHtml + "\n"+''+ "\n"+''; } moreDialog = window.open("","More","width=700,height=650,status=0,resizable=yes,menubar=no,toolbar=no,scrollbars=yes"); moreDialog.document.write( html ); moreDialog.document.close(); if( !hasHtmlTag ){ moreDialog.document.body.style.margin = '0.5em'; } } else { //default view logic var lines = raw.split( "\n" ); var longest = 0; if( lines.length > 0 ){ for( var p = 0; p < lines.length; p++ ){ longest = Math.max( longest, lines[p].length ); } } //Decide on the default view this.Default = longest < 120 ? 'raw' : 'formatted'; //Build formatted view var text = raw.split( "\n\n" ) >= raw.split( "\r\n\r\n" ) ? raw.split( "\n\n" ) : raw.split( "\r\n\r\n" ) ; var formatted = ''; if( text.length > 0 ){ if( text.length == 1 ){ text = raw.split( "\n" ) >= raw.split( "\r\n" ) ? raw.split( "\n" ) : raw.split( "\r\n" ) ; formatted = "
"+ text.join( "

\n" ) +"
"; }else{ for( var p = 0; p < text.length; p++ ){ formatted += "
" + text[p] + "
\n"; } } }else{ formatted = '
' + raw + '
'; } html = ''+ "\n"+''+ "\n"+' Report Preview Details'+ "\n"+' '+ "\n"+''+ "\n"+''+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+'
'+ "\n"+' formatted: '+ ( this.Default == 'raw' ? 'as Filed' : 'with Text Wrapped' ) +''+ "\n"+'
'+ "\n"+'
'+formatted+'
'+ "\n"+'
'+ "\n"+'
'+raw+'
'+ "\n"+'
'+ "\n"+''+ "\n"+''; moreDialog = window.open("","More","width=700,height=650,status=0,resizable=yes,menubar=no,toolbar=no,scrollbars=yes"); moreDialog.document.write(html); moreDialog.document.close(); this.toggle( moreDialog ); } moreDialog.document.title = 'Report Preview Details'; }, toggle:function( win, domLink ){ var domId = this.Default; var doc = win.document; var domEl = doc.getElementById( domId ); domEl.style.display = 'block'; this.Default = domId == 'raw' ? 'formatted' : 'raw'; if( domLink ){ domLink.innerHTML = this.Default == 'raw' ? 'with Text Wrapped' : 'as Filed'; } var domElOpposite = doc.getElementById( this.Default ); domElOpposite.style.display = 'none'; }, LastAR : null, showAR : function ( link, id, win ){ if( Show.LastAR ){ Show.hideAR(); } var ref = link; do { ref = ref.nextSibling; } while (ref && ref.nodeName != 'TABLE'); if (!ref || ref.nodeName != 'TABLE') { var tmp = win ? win.document.getElementById(id) : document.getElementById(id); if( tmp ){ ref = tmp.cloneNode(true); ref.id = ''; link.parentNode.appendChild(ref); } } if( ref ){ ref.style.display = 'block'; Show.LastAR = ref; } }, toggleNext : function( link ){ var ref = link; do{ ref = ref.nextSibling; }while( ref.nodeName != 'DIV' ); if( ref.style && ref.style.display && ref.style.display == 'none' ){ ref.style.display = 'block'; if( link.textContent ){ link.textContent = link.textContent.replace( '+', '-' ); }else{ link.innerText = link.innerText.replace( '+', '-' ); } }else{ ref.style.display = 'none'; if( link.textContent ){ link.textContent = link.textContent.replace( '-', '+' ); }else{ link.innerText = link.innerText.replace( '-', '+' ); } } }, hideAR : function(){ Show.LastAR.style.display = 'none'; } } XML 20 R7.htm IDEA: XBRL DOCUMENT v2.4.0.6

LONG TERM DEBT AND NOTES PAYABLE
9 Months Ended

Mar. 31, 2012

LONG TERM DEBT AND NOTES PAYABLE

NOTE 2 - LONG TERM DEBT AND NOTES PAYABLE

In January 2011, the Company entered into a credit agreement which provides $1 million of credit based on 85% of acceptable accounts receivable, as defined. The loan and security agreement provided for interest at prime rate plus 2% with an interest floor of 5.25%. In addition, the Company paid a monthly “maintenance” fee of 0.6% of the outstanding daily loan balance (an equivalent annual fee of 7.2%), and an annual commitment fee of 1% of the amount of the credit facility. Amounts outstanding under the agreement are secured by all of the Company’s assets other than real estate and are payable on demand. In March 2011, the credit limit was increased to $3 million based on 80% of acceptable accounts receivable, as defined. In November 2011, the credit limit remained at $3 million, however the borrowing base was reduced to 80% of acceptable accounts receivable less $300,000, the interest rate was reduced to prime plus 0.5% (currently 3.75%) with an interest floor of 3.75%, and the monthly maintenance fee was reduced to 0.4% (an equivalent annual fee of 4.8%). As of March 31, 2012, the Company owed $1.3 million under the credit agreement.

In July 2008, the Company entered into a Promissory Note with a bank (the “note”) in order to purchase land and a building that had been occupied by the Company since 1998 (the total purchase price was approximately $8.1 million). Pursuant to the note, the company borrowed $6,000,000 which was payable in monthly installments of principal and interest on a fully amortized base over 30 years at an initial five-year interest rate of 7.1% and thereafter at a variable rate equal to LIBOR plus 3.6% (6.4% as of the purchase date). The mortgage debt is secured by the land and building.

In June 2009, the Company entered into a $3,562,500 Purchase Money Promissory Note secured by a Deed of Trust for the purchase of land and a building. The note bears interest at 7% fixed for ten years. The principal amount of the note is payable on June 12, 2019. The note is secured by the property.

In November 2010, the Company converted approximately $1 million of accounts payable into a note secured by a lien of all the Company’s assets, which security interest was subordinated to that of the $3 million credit agreement and other term and mortgage debt. The note was due in 48 monthly installments of $20,000 plus interest at 3% per annum and could be prepaid at any time. The total amount due under the note was subject to a 12.5% or 6% discount if totally paid within 12 months or 18 months, respectively. In April 2011, the Company received $1 million in settlement of a claim, and prepaid $333,000 of the above $1 million note. The remaining amount due under the note was paid in October 2011, at a 12.5% discount.

X

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.19,20,22)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 129

-Paragraph 2, 4

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 19, 20, 22

-Article 5

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

+ Details

Name: us-gaap_DebtDisclosureTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

XML 21 R3.htm IDEA: XBRL DOCUMENT v2.4.0.6

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)
In Thousands, except Share data, unless otherwise specified

Mar. 31, 2012

Jun. 30, 2011

Accounts receivable, allowances for doubtful accounts $ 320 $ 351 ^[1]

Preferred stock, no par value ^[1]

Preferred stock, shares authorized 5,000,000 5,000,000 ^[1]

Preferred stock, outstanding ^[1]

Common stock, no par value ^[1]

Common stock, shares authorized 50,000,000 50,000,000 ^[1]

Common stock, shares issued 10,513,166 10,513,166 ^[1]

Common stock, shares outstanding 10,513,166 10,513,166 ^[1]

[1] Amounts derived from audited financial statements

X

- Definition

A valuation allowance for trade and other receivables due to an Entity within one year (or the normal operating cycle, whichever is longer) that are expected to be uncollectible.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 4

-Article 5

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 310

-SubTopic 10

-Section 50

-Paragraph 4

-URI http://asc.fasb.org/extlink&oid=6965416&loc=d3e5074-111524

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.4)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition

Issuance value per share of no-par value common stock; generally not indicative of the fair market value per share.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 30

-Article 5

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 129

-Paragraph 4

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.29)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_CommonStockNoParValue

Namespace Prefix: us-gaap_

Data Type: num:perShareItemType

Balance Type: na

Period Type: instant

X

- Definition

The maximum number of common shares permitted to be issued by an entity's charter and bylaws.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 30

-Article 5

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.29)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_CommonStockSharesAuthorized

Namespace Prefix: us-gaap_

Data Type: xbrli:sharesItemType

Balance Type: na

Period Type: instant

X

- Definition

Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 30

-Article 5

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.29)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_CommonStockSharesIssued

Namespace Prefix: us-gaap_

Data Type: xbrli:sharesItemType

Balance Type: na

Period Type: instant

X

- Definition

Total number of shares of common stock held by shareholders. May be all or portion of the number of common shares authorized. These shares represent the ownership interest of the common shareholders. Shares outstanding equals shares issued minus shares held in treasury and other adjustments, if any.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.3-04)

-URI http://asc.fasb.org/extlink&oid=6959260&loc=d3e187085-122770

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Principles Board Opinion (APB)

-Number 12

-Paragraph 10

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.29)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 04

-Article 3

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 30

-Article 5

+ Details

Name: us-gaap_CommonStockSharesOutstanding

Namespace Prefix: us-gaap_

Data Type: xbrli:sharesItemType

Balance Type: na

Period Type: instant

X

- Definition

Issuance value per share of no-par value, nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer); generally not indicative of the fair market value per share.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.28)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Principles Board Opinion (APB)

-Number 12

-Paragraph 10

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 5

-Section 02

-Paragraph 29

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 129

-Paragraph 2, 3, 4, 5, 6, 7, 8

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Name: us-gaap_PreferredStockNoParValue

Namespace Prefix: us-gaap_

Data Type: num:perShareItemType

Balance Type: na

Period Type: instant

X

- Definition

The maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 5

-Section 02

-Paragraph 29

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 129

-Paragraph 2, 3, 4, 5, 6, 7, 8

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.28)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_PreferredStockSharesAuthorized

Namespace Prefix: us-gaap_

Data Type: xbrli:sharesItemType

Balance Type: na

Period Type: instant

X

- Definition

Aggregate share number for all nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) held by stockholders. Does not include preferred shares that have been repurchased.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 5

-Section 02

-Paragraph 29

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.28)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_PreferredStockSharesOutstanding

Namespace Prefix: us-gaap_

Data Type: xbrli:sharesItemType

Balance Type: na

Period Type: instant

XML 22 R1.htm IDEA: XBRL DOCUMENT v2.4.0.6

Document and Entity Information
9 Months Ended

Mar. 31, 2012

Document Information [Line Items]

Document Type 10-Q

Amendment Flag false

Document Period End Date Mar. 31, 2012

Document Fiscal Year Focus 2012

Document Fiscal Period Focus Q3

Trading Symbol PTSX

Entity Registrant Name POINT.360

Entity Central Index Key 0001398797

Current Fiscal Year End Date --06-30

Entity Filer Category Smaller Reporting Company

Entity Common Stock, Shares Outstanding 10,513,166

X

- Definition

If the value is true, then the document as an amendment to previously-filed/accepted document.

+ References

No definition available.

+ Details

Name: dei_AmendmentFlag

Namespace Prefix: dei_

Data Type: xbrli:booleanItemType

Balance Type: na

Period Type: duration

X

- Definition

End date of current fiscal year in the format --MM-DD.

+ References

No definition available.

+ Details

Name: dei_CurrentFiscalYearEndDate

Namespace Prefix: dei_

Data Type: xbrli:gMonthDayItemType

Balance Type: na

Period Type: duration

X

- Definition

This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY.

+ References

No definition available.

+ Details

Name: dei_DocumentFiscalPeriodFocus

Namespace Prefix: dei_

Data Type: dei:fiscalPeriodItemType

Balance Type: na

Period Type: duration

X

- Definition

This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006.

+ References

No definition available.

+ Details

Name: dei_DocumentFiscalYearFocus

Namespace Prefix: dei_

Data Type: xbrli:gYearItemType

Balance Type: na

Period Type: duration

X

- Details

Name: dei_DocumentInformationLineItems

Namespace Prefix: dei_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented. If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD.

+ References

No definition available.

+ Details

Name: dei_DocumentPeriodEndDate

Namespace Prefix: dei_

Data Type: xbrli:dateItemType

Balance Type: na

Period Type: duration

X

- Definition

The type of document being provided (such as 10-K, 10-Q, N-1A, etc). The document type is limited to the same value as the supporting SEC submission type, minus any "/A" suffix. The acceptable values are as follows: S-1, S-3, S-4, S-11, F-1, F-3, F-4, F-9, F-10, 6-K, 8-K, 10, 10-K, 10-Q, 20-F, 40-F, N-1A, 485BPOS, 497, NCSR, N-CSR, N-CSRS, N-Q, 10-KT, 10-QT, 20-FT, POS AM and Other.

+ References

No definition available.

+ Details

Name: dei_DocumentType

Namespace Prefix: dei_

Data Type: dei:submissionTypeItemType

Balance Type: na

Period Type: duration

X

- Definition

A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation 12B

-Number 240

-Section 12b

-Subsection 1

+ Details

Name: dei_EntityCentralIndexKey

Namespace Prefix: dei_

Data Type: dei:centralIndexKeyItemType

Balance Type: na

Period Type: duration

X

- Definition

Indicate number of shares outstanding of each of registrant's classes of common stock, as of latest practicable date. Where multiple classes exist define each class by adding class of stock items such as Common Class A [Member], Common Class B [Member] onto the Instrument [Domain] of the Entity Listings, Instrument

+ References

No definition available.

+ Details

Name: dei_EntityCommonStockSharesOutstanding

Namespace Prefix: dei_

Data Type: xbrli:sharesItemType

Balance Type: na

Period Type: instant

X

- Definition

Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, or (4) Smaller Reporting Company. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure.

+ References

No definition available.

+ Details

Name: dei_EntityFilerCategory

Namespace Prefix: dei_

Data Type: dei:filerCategoryItemType

Balance Type: na

Period Type: duration

X

- Definition

The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation 12B

-Number 240

-Section 12b

-Subsection 1

+ Details

Name: dei_EntityRegistrantName

Namespace Prefix: dei_

Data Type: xbrli:normalizedStringItemType

Balance Type: na

Period Type: duration

X

- Definition

Trading symbol of an instrument as listed on an exchange.

+ References

No definition available.

+ Details

Name: dei_TradingSymbol

Namespace Prefix: dei_

Data Type: xbrli:normalizedStringItemType

Balance Type: na

Period Type: duration

XML 23 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
3 Months Ended 9 Months Ended

Mar. 31, 2012

Mar. 31, 2011

Mar. 31, 2012

Mar. 31, 2011

Revenues $ 8,497,000 $ 9,258,000 $ 26,008,000 $ 26,600,000

Cost of services sold (5,657,000) (5,990,000) (16,696,000) (18,485,000)

Gross profit 2,840,000 3,268,000 9,312,000 8,115,000

Selling, general and administrative expense (3,045,000) (3,221,000) (9,209,000) (10,182,000)

Research and development expense (18,000) (352,000)

Impairment of long lived assets (684,000) (684,000)

Operating Income (loss) (205,000) (655,000) 103,000 (3,103,000)

Interest expense (199,000) (216,000) (637,000) (611,000)

Interest income 20,000 62,000

Other income 77,000 1,083,000 347,000 1,261,000

Income (loss) before income taxes (327,000) 212,000 (167,000) (2,391,000)

Provision for income taxes

Net income (loss) $ (327,000) $ 212,000 $ (167,000) $ (2,391,000)

Basic:

Net income (loss) $ (0.03) $ 0.02 $ (0.02) $ (0.22)

Weighted average number of shares 10,513,166 10,763,166 10,513,166 10,685,611

Diluted:

Net income (loss) $ (0.03) $ 0.02 $ (0.02) $ (0.22)

Weighted average number of shares including the dilutive effect of stock options 10,513,166 10,763,166 10,513,166 10,685,611

X

- Definition

Total costs related to services rendered by an entity during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 5

-Section 03

-Paragraph 2

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 225

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SX 210.5-03.2(d))

-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

+ Details

Name: us-gaap_CostOfServices

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

-Section 55

-Paragraph 52

-URI http://asc.fasb.org/extlink&oid=6945512&loc=d3e4984-109258

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Emerging Issues Task Force (EITF)

-Number 07-4

-Paragraph 4

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 5

-Section 03

-Paragraph 20

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 944

-SubTopic 225

-Section S99

-Paragraph 1

-Subparagraph (SX 210.7-04.19)

-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 04

-Article 7

-Paragraph 18

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 942

-SubTopic 225

-Section S99

-Paragraph 1

-Subparagraph (SX 210.9-04.23)

-URI http://asc.fasb.org/extlink&oid=6879574&loc=d3e536633-122882

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 128

-Paragraph 36, 37, 38

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 225

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SX 210.5-03.21)

-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

Reference 10: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 04

-Paragraph 21

-Article 9

Reference 11: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

-Section 45

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6920599&loc=d3e1252-109256

+ Details

Name: us-gaap_EarningsPerShareBasic

Namespace Prefix: us-gaap_

Data Type: num:perShareItemType

Balance Type: na

Period Type: duration

X

- Details

Name: us-gaap_EarningsPerShareBasicAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 128

-Paragraph 11, 12, 36

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 225

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SX 210.5-03.21)

-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 5

-Section 03

-Paragraph 20

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

-Section 45

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6920599&loc=d3e1252-109256

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 04

-Article 7

-Paragraph 18

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 04

-Paragraph 21

-Article 9

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Emerging Issues Task Force (EITF)

-Number 07-4

-Paragraph 4

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Name: us-gaap_EarningsPerShareDiluted

Namespace Prefix: us-gaap_

Data Type: num:perShareItemType

Balance Type: na

Period Type: duration

X

- Details

Name: us-gaap_EarningsPerShareDilutedAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 225

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SX 210.5-03.1,2)

-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

+ Details

Name: us-gaap_GrossProfit

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

The aggregate amount of write-downs for impairments recognized during the period for long lived assets held for use (including those held for disposal by means other than sale).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 360

-SubTopic 10

-Section 45

-Paragraph 4

-URI http://asc.fasb.org/extlink&oid=6390789&loc=d3e2420-110228

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 360

-SubTopic 10

-Section 50

-Paragraph 2

-Subparagraph (b)

-URI http://asc.fasb.org/extlink&oid=6391110&loc=d3e2921-110230

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 144

-Paragraph 26

-Subparagraph b

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 958

-SubTopic 225

-Section 45

-Paragraph 11

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=6743430&loc=d3e92212-112881

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 144

-Paragraph 7, 25

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-Subparagraph (b)

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Impairment

-URI http://asc.fasb.org/extlink&oid=6515133

+ Details

Name: us-gaap_ImpairmentOfLongLivedAssetsHeldForUse

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

Sum of operating profit and nonoperating income or expense before Income or Loss from equity method investments, income taxes, extraordinary items, and noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 4

-Section 08

-Paragraph h

-Subparagraph 1(i)

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.4-08.(h)(1)(i))

-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

+ Details

Name: us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

The sum of the current income tax expense or benefit and the deferred income tax expense or benefit pertaining to continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Income Tax Expense (or Benefit)

-URI http://asc.fasb.org/extlink&oid=6515339

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 9

-Subparagraph (a),(b)

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 08

-Paragraph h

-Article 4

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 109

-Paragraph 45

-Subparagraph a, b

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.4-08.(h))

-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

+ Details

Name: us-gaap_IncomeTaxExpenseBenefit

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

The cost of borrowed funds accounted for as interest that was charged against earnings during the period.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 835

-SubTopic 20

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6450988&loc=d3e26243-108391

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 942

-SubTopic 225

-Section S99

-Paragraph 1

-Subparagraph (SX 210.9-04.9)

-URI http://asc.fasb.org/extlink&oid=6879574&loc=d3e536633-122882

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 34

-Paragraph 21

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 04

-Paragraph 9

-Article 9

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher OTS

-Name Federal Regulation (FR)

-Number Title 12

-Chapter V

-Section 563c.102

-Paragraph 9

-Subsection II

-LegacyDoc This is a non-GAAP reference that was included in the 2009 taxonomy. It will be removed from future versions of this taxonomy.

+ Details

Name: us-gaap_InterestExpense

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

Income derived from investments in debt securities and on cash and cash equivalents the earnings of which reflect the time value of money or transactions in which the payments are for the use or forbearance of money.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 5

-Section 03

-Paragraph 7

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 115

-Paragraph 14

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 225

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SX 210.5-03.7(b))

-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

+ Details

Name: us-gaap_InvestmentIncomeInterest

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 944

-SubTopic 225

-Section S99

-Paragraph 1

-Subparagraph (SX 210.7-04.22)

-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 225

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SX 210.5-03.18)

-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 38

-Subparagraph a

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 6

-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e565-108580

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph A7

-Appendix A

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 130

-Paragraph 10, 15

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Other Comprehensive Income

-URI http://asc.fasb.org/extlink&oid=6519514

Reference 10: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 38

-Subparagraph d

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 11: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Emerging Issues Task Force (EITF)

-Number 87-21

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 12: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Net Income

-URI http://asc.fasb.org/extlink&oid=6518256

Reference 13: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 944

-SubTopic 225

-Section S99

-Paragraph 1

-Subparagraph (SX 210.7-04.19)

-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 14: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 5

-Section 03

-Paragraph 19

Reference 15: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 28, 29, 30

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 16: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 04

-Paragraph 20

-Article 9

+ Details

Name: us-gaap_NetIncomeLoss

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

The net result for the period of deducting operating expenses from operating revenues.

+ References

No definition available.

+ Details

Name: us-gaap_OperatingIncomeLoss

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

The aggregate amount of other income amounts, the components of which are not separately disclosed on the income statement, resulting from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business) also known as other nonoperating income recognized for the period. Such amounts may include: (a) dividends, (b) interest on securities, (c) profits on securities (net of losses), and (d) miscellaneous other income items.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 5

-Section 03

-Paragraph 7

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Audit and Accounting Guide (AAG)

-Number AAG-BRD

-Chapter 4

-Paragraph 80

-Subparagraph Exhibit 4-4

-IssueDate 2006-05-01

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 225

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SX 210.5-03.7)

-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

+ Details

Name: us-gaap_OtherNonoperatingIncome

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

The aggregate costs incurred (1) in a planned search or critical investigation aimed at discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service, a new process or technique, or in bringing about a significant improvement to an existing product or process; or (2) to translate research findings or other knowledge into a plan or design for a new product or process or for a significant improvement to an existing product or process whether intended for sale or the entity's use, during the reporting period charged to research and development projects, including the costs of developing computer software up to the point in time of achieving technological feasibility, and costs allocated in accounting for a business combination to in-process projects deemed to have no alternative future use.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 985

-SubTopic 20

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6501960&loc=d3e128462-111756

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 730

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6420194&loc=d3e21568-108373

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 141

-Paragraph 51

-Subparagraph g

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 2

-Paragraph 12, 13

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 86

-Paragraph 11, 12

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Name: us-gaap_ResearchAndDevelopmentExpense

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

Aggregate revenue recognized during the period (derived from goods sold, services rendered, insurance premiums, or other activities that constitute an entity's earning process). For financial services companies, also includes investment and interest income, and sales and trading gains.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 5

-Section 03

-Paragraph 1

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 225

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SX 210.5-03.1)

-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

+ Details

Name: us-gaap_Revenues

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

The aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 43

-Chapter 4

-Paragraph 5A

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 5

-Section 03

-Paragraph 4

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 225

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SX 210.5-03.4)

-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 330

-SubTopic 10

-Section 30

-Paragraph 8

-URI http://asc.fasb.org/extlink&oid=6386349&loc=d3e3636-108311

+ Details

Name: us-gaap_SellingGeneralAndAdministrativeExpense

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

-Section 45

-Paragraph 16

-URI http://asc.fasb.org/extlink&oid=6920599&loc=d3e1505-109256

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Emerging Issues Task Force (EITF)

-Number 07-4

-Paragraph 4

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 128

-Paragraph 40

-Subparagraph a

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 128

-Paragraph 8

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

-Section 50

-Paragraph 1

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

+ Details

Name: us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding

Namespace Prefix: us-gaap_

Data Type: xbrli:sharesItemType

Balance Type: na

Period Type: duration

X

- Definition

Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

-Section 50

-Paragraph 1

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

-Section 45

-Paragraph 10

-URI http://asc.fasb.org/extlink&oid=6920599&loc=d3e1448-109256

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 128

-Paragraph 171

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Weighted-Average Number of Common Shares Outstanding

-URI http://asc.fasb.org/extlink&oid=6528421

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 128

-Paragraph 40

-Subparagraph a

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 128

-Paragraph 8

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Emerging Issues Task Force (EITF)

-Number 07-4

-Paragraph 4

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Name: us-gaap_WeightedAverageNumberOfSharesOutstandingBasic

Namespace Prefix: us-gaap_

Data Type: xbrli:sharesItemType

Balance Type: na

Period Type: duration

XML 24 R12.htm IDEA: XBRL DOCUMENT v2.4.0.6

STOCK RIGHTS PLAN
9 Months Ended

Mar. 31, 2012

STOCK RIGHTS PLAN

NOTE 7- STOCK RIGHTS PLAN

In July 2007, the Company implemented a stock rights program. Pursuant to the program, stockholders of record on August 7, 2007, received a dividend of one right to purchase for $10 one one-hundredth of a share of a newly created Series A Junior Participating Preferred Stock. The rights are attached to the Company’s Common Stock and will also become attached to shares issued subsequent to August 7, 2007. The rights will not be traded separately and will not become exercisable until the occurrence of a triggering event, defined as an accumulation by a single person or group of 20% or more of the Company’s Common Stock. The rights will expire on August 6, 2017 and are redeemable at $0.0001 per right.

After a triggering event, the rights will detach from the Common Stock. If the Company is then merged into, or is acquired by, another corporation, the Company has the opportunity to either (i) redeem the rights or (ii) permit the rights holder to receive in the merger stock of the Company or the acquiring company equal to two times the exercise price of the right (i.e., $20). In the latter instance, the rights attached to the acquirer’s stock become null and void. The effect of the rights program is to make a potential acquisition of the Company more expensive for the acquirer if, in the opinion of the Company’s Board of Directors, the offer is inadequate.

No triggering events occurred in the nine months ended March 31, 2012.

X

- Definition

Stockholder Rights Plan Disclosure

+ References

No definition available.

+ Details

Name: ptsx_StockholderRightsPlan

Namespace Prefix: ptsx_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

XML 25 R11.htm IDEA: XBRL DOCUMENT v2.4.0.6

STOCK OPTION PLAN, STOCK-BASED COMPENSATION
9 Months Ended

Mar. 31, 2012

STOCK OPTION PLAN, STOCK-BASED COMPENSATION

NOTE 6- STOCK OPTION PLAN, STOCK-BASED COMPENSATION

In May 2007, the Board of Directors approved the 2007 Equity Incentive Plan (the “2007 Plan”). The 2007 Plan provides for the award of options to purchase up to 2,000,000 shares of common stock, appreciation rights and restricted stock awards.

Under the 2007 Plan, the stock option price per share for options granted is determined by the Board of Directors and is based on the market price of the Company’s common stock on the date of grant, and each option is exercisable within the period and in the increments as determined by the Board, except that no option can be exercised later than ten years from the grant date. The stock options generally vest in one to five years.

In November 2010, the shareholders approved the 2010 Incentive Plan (the “2010 Plan”). The 2010 Plan provides for the award of options to purchase up to 4,000,000 shares of common stock, appreciation rights and restricted stock and performance awards.

Under the 2010 Plan, the stock option price per share for options granted is determined by the Board of Directors and is based on the market price of the Company’s common stock on the date of grant, and each option is exercisable within the period and in the increments as determined by the Board, except that no option can be exercised later than ten years from the grant date. The stock options generally vest in one to five years.

The Company measures and recognizes compensation expense for all share-based payment awards made to employees and directors based on estimated fair values. We also estimate the fair value of the award that is ultimately expected to vest to be recognized as expense over the requisite service periods in our Condensed Consolidated Statements of Operations.

We estimate the fair value of share-based payment awards to employees and directors on the date of grant using an option-pricing model. The value of the portion of the award that is ultimately expected to vest is recognized as expense over the requisite service periods in the Company’s Condensed Consolidated Statements of Operations. Stock-based compensation expense recognized in the Condensed Consolidated Statements of Operations for the three and nine month periods ended March 31, 2012 included compensation expense for the share-based payment awards based on the grant date fair value. For stock-based awards issued to employees and directors, stock-based compensation is attributed to expense using the straight-line single option method. As stock-based compensation expense recognized in the Condensed Consolidated Statements of Operations for the periods reported in this Form 10-Q is based on awards expected to vest, forfeitures are also estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. For the periods being reported in this Form 10-Q, expected forfeitures are immaterial. The Company will re-assess the impact of forfeitures if actual forfeitures increase in future quarters. Stock-based compensation expense related to employee or director stock options recognized for the three and nine month periods ended March 31, 2012 and 2011 was as follows:



Three months ended March 31, 2012 $ 65,000

Three months ended March 31, 2011 76,000

Nine months ended March 31, 2012 252,000

Nine months ended March 31, 2011 232,000

The Company’s determination of fair value of share-based payment awards to employees and directors on the date of grant uses the Black-Scholes model, which is affected by the Company’s stock price as well as assumptions regarding a number of complex and subjective variables. These variables include, but are not limited to, the expected stock price volatility over the expected term of the awards, and actual and projected employee stock options exercise behaviors. The Company estimates expected volatility using historical data. The expected term is estimated using the “safe harbor” provisions provided by the SEC.

During each of the three and nine month periods ended March 31, 2012 and 2011, the Company granted awards of stock options as follows:

2007 Plan 2010 Plan

Options Exercise Options Exercise

Granted Price per Share Granted Price per Share

Three months ended March 31, 2012 - - 247,000 $0.95

Three months ended March 31, 2011 329,800 $0.86 222,200 $0.86

Nine months ended March 31, 2012 30,000 $1.07 247,000 $0.95

Nine months ended March 31, 2011 374,800 $0.89 222,200 $0.86

As of March 31, 2012, there were options outstanding to acquire 2,496,225 shares at an average exercise price of $1.32 per share.

The following table summarizes the status of the 2007 and 2010 Plans as of March 31, 2012:

2007 Plan 2010 Plan Total

Options originally available 2,000,000 4,000,000 6,000,000

Stock options outstanding 1,956,650 539,575 2,496,225

Options available for grant 31,350 3,460,425 3,491,775

Transactions involving stock options are summarized as follows:

Number

of Shares

Weighted Average

Exercise Price

Weighted Average

Grant Date

Fair Value

Balance at June 30, 2011 2,233,475 $ 1.36 $ 0.65

Granted - $ - $ -

Exercised - $ - $ -

Cancelled (11,000 ) $ 1.45 $ 0.68

Balance at September 30, 2011 2,222,475 $ 1.36 $ 0.65

Granted 30,000 $ 1.07 $ 0.57

Exercised - $ - $ -

Cancelled (2,750 ) $ 1.64 $ 0.73

Balance at December 31, 2011 2,249,725 $ 1.36 $ 0.65

Granted 247,000 $ 0.95 $ 0.57

Exercised - $ - $ -

Cancelled (500 ) $ 1.07 $ 0.49

Balance at March 31, 2012 2,496,225 $ 1.32 $ 0.64

As of March 31, 2012, the total compensation costs related to non-vested awards yet to be expensed was approximately $0.4 million to be amortized over the next four years.

The weighted average exercise prices for options granted and exercisable and the weighted average remaining contractual life for options outstanding as of March 31, 2012 were as follows:

As of March 31, 2012

Number of
Shares

Weighted Average Exercise Price
Weighted Average Remaining Contractual Life (Years)

Intrinsic

Value

Employees – Outstanding 2,261,225 $1.32 2.53 $3,000

Employees – Expected to Vest 2,035,103 $1.32 2.53 $3,000

Employees – Exercisable 1,316,344 $1.55 1.56 --

Non-Employees-Outstanding 235,000 $1.30 2.20 --

Non-Employees- Expected to Vest 235,000 $1.30 2.20 --

Non-Employees-Exercisable 223,750 $1.44 2.13 --

The aggregate intrinsic value in the table above is the sum of the amounts by which the quoted market price of our common stock exceeded the exercise price of the options at March 31, 2012, for those options for which the quoted market price was in excess of the exercise price.

Additional information with respect to outstanding options as of March 31, 2012 is as follows (shares in thousands):

Options Outstanding Options Exercisable

Options Exercise
Price Range Number of
Shares Weighted
Average
Remaining
Contractual Life Weighted
Average
Exercise Price Number of Shares Weighted
Average Exercise
Price

$1.79 941 0.9 Years $1.79 941 $1.79

$1.37 30 1.6 Years $1.37 30 $1.37

$1.29 304 2.9 Years $1.29 152 $1.29

$1.27 15 3.5 Years $1.27 4 $1.27

$1.20 249 1.9 Years $1.20 187 $1.20

$1.15 30 3.6 Years $1.15 30 $1.15

$1.07 30 4.7 Years $1.07 30 $1.07

$1.05 30 2.6 Years $1.05 30 $1.05

$0.95 247 5.0 Years $0.95 - $0.95

$0.86 545 3.9 Years $0.86 136 $0.86

$0.75 75 4.1 Years $0.75 - $0.75

In addition to the above 2007 Plan, the Company issued 10,000 shares of restricted stock during fiscal year ended June 30, 2010 with a weighted average fair value of $0.58 per share.

We use the detailed method provided in ASC 718 for calculating the beginning balance of the additional paid-in capital pool (APIC pool) related to the tax effects of employee stock-based compensation, and to determine the subsequent impact on the APIC pool and Consolidated Statements of Cash Flows of the tax effects of employee stock-based compensation awards that are outstanding upon adoption of ASC 718.

X

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 718

-SubTopic 10

-Section 50

-Paragraph 4

-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Statement of Position (SOP)

-Number 93-6

-Paragraph 53

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Staff Accounting Bulletin (SAB)

-Number Topic 14

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 123R

-Paragraph 64, 65, A240

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 718

-SubTopic 40

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6418621&loc=d3e17540-113929

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 718

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 50

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6406099&loc=d3e25284-112666

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 718

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901

+ Details

Name: us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

XML 26 R15.htm IDEA: XBRL DOCUMENT v2.4.0.6

SEGMENT INFORMATION
9 Months Ended

Mar. 31, 2012

SEGMENT INFORMATION

NOTE 10- SEGMENT INFORMATION:

In its operation of the business, management reviews certain financial information, including segmented internal profit and loss statements prepared on a basis consistent with U.S. generally accepted accounting principles. Our two segments are Point.360 and Movie>Q. The two segments discussed in this analysis are presented in the way we internally managed and monitored performance for the three and nine month periods ended March 31, 2012 and 2011. Allocations for internal resources were made for the three and nine month periods ended March 31, 2012 and 2011. The Movie>Q segment tracks certain assets separately, and all others are recorded in the Point.360 segment for internal reporting presentations. Cash was not segregated between the two segments but retained in the Point.360 segment.

The types of services provided by each segment are summarized below:

Point.360 – The Point.360 segment provides high definition and standard definition digital mastering, data conversion, video and film asset management and sophisticated computer graphics services to owners, producers and distributors of entertainment and advertising content. Point.360 provides the services necessary to edit, master, reformat, convert, archive and ultimately distribute its clients’ film and video content, including television programming feature films and movie trailers. The segment’s interconnected facilities provide service coverage to all major U.S. media centers. Clients include major motion picture studios and independent producers.

Movie>Q – The Movie>Q segment rents and sells DVDs and video games directly to consumers though its retail stores. The stores employ an automated inventory management (“AIM”) system in a 1,200-1,600 square foot facility. By saving space and personnel costs which caused the big box stores to be uncompetitive with lower priced online and vending machine rental alternatives, Movie>Q can offer up to 10,000 unit selections to a customer at competitive rental rates. Movie>Q provides online reservations, an in-store destination experience, first run movie and game titles and a large unit selection.

Segment revenues, operating loss and total assets were as follows (in thousands):

Revenue
Three Months
Ended
March 31, Nine Months
Ended
March 31,

2012 2011 2012 2011

Point.360 $ 8,358 $ 9,110 $ 25,586 $ 26,179

Movie>Q 139 148 422 421

Consolidated revenue $ 8,497 $ 9,258 $ 26,008 $ 26,600

Operating income (loss)
Three Months
Ended
March 31, Nine Months
Ended
March 31,

2012 2011 2012 2011

Point.360 $ (39 ) $ 187 $ 606 $ (1,501 )

Movie>Q ⁽¹⁾ (166 ) (842 ) (503 ) (1,602 )

Operating income (loss) $ (205 ) $ (655 ) $ 103 $ (3,103 )

Total Assets March 31, June 30,

2012 2011

Point.360 $ 25,603 $ 23,608

Movie>Q 1,571 1,787

Consolidated assets $ 27,174 $ 25,395

⁽¹⁾ Includes R&D expenses related to the Movie>Q project

X

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 12

-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 10

-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 33

-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 34

-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 29

-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 35

-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 41

-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 32

-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 131

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 11: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 30

-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599

Reference 12: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 26

-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599

Reference 13: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 40

-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599

Reference 14: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 42

-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599

Reference 15: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 31

-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599

+ Details

Name: us-gaap_SegmentReportingDisclosureTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

XML 27 R13.htm IDEA: XBRL DOCUMENT v2.4.0.6

SHAREHOLDER'S EQUITY
9 Months Ended

Mar. 31, 2012

SHAREHOLDER'S EQUITY

NOTE 8- SHAREHOLDER’S EQUITY

The following table analyzes the components of shareholders’ equity from June 30, 2011 to March 31, 2012 (in thousands):

Common

Stock

Paid-in

Capital

Accumulated

(Deficit)

Shareholders’

Equity

Balance, June 30, 2011 $ 21,695 $ 10,125 $ (22,331 ) $ 9,489

Stock-based compensation expense - 85 - 85

Net income - - 109 109

Balance, September 30, 2011 21,695 10,210 (22,222 ) 9,683

Stock-based compensation expense - 102 - 102

Net income - - 51 51

Balance, December 31, 2011 $ 21,695 $ 10,312 $ (22,171 ) $ 9,836

Stock-based compensation expense - 65 - 65

Net loss - - (327 ) (327 )

Balance, March 31, 2012 $ 21,695 $ 10,377 $ (22,498 ) $ 9,574

X

- Definition

The entire disclosure for shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, if any, including other comprehensive income (as applicable). Including, but not limited to: (1) balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings; (2) accumulated balance for each classification of other comprehensive income and total amount of comprehensive income; (3) amount and nature of changes in separate accounts, including the number of shares authorized and outstanding, number of shares issued upon exercise and conversion, and for other comprehensive income, the adjustments for reclassifications to net income; (4) rights and privileges of each class of stock authorized; (5) basis of treasury stock, if other than cost, and amounts paid and accounting treatment for treasury stock purchased significantly in excess of market; (6) dividends paid or payable per share and in the aggregate for each class of stock for each period presented; (7) dividend restrictions and accumulated preferred dividends in arrears (in aggregate and per share amount); (8) retained earnings appropriations or restrictions, such as dividend restrictions; (9) impact of change in accounting principle, initial adoption of new accounting principle and correction of an error in previously issued financial statements; (10) shares held in trust for Employee Stock Ownership Plan (ESOP); (11) deferred compensation related to issuance of capital stock; (12) note received for issuance of stock; (13) unamortized discount on shares; (14) description, terms, and number of warrants or rights outstanding; (15) shares under subscription and subscription receivables, effective date of new retained earnings after quasi-reorganization and deficit eliminated by quasi-reorganization and, for a period of at least ten years after the effective date, the point in time from which the new retained dates; and (16) retroactive effective of subsequent change in capital structure.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 04

-Article 3

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 29, 30, 31

-Article 5

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 310

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SAB TOPIC 4.E)

-URI http://asc.fasb.org/extlink&oid=6228006&loc=d3e74512-122707

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 4

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section S99

-Paragraph 4

-Subparagraph (SAB TOPIC 4.C)

-URI http://asc.fasb.org/extlink&oid=6959260&loc=d3e187143-122770

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 129

-Paragraph 2, 3, 4, 5, 6, 7, 8

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Preferred Stock

-URI http://asc.fasb.org/extlink&oid=6521494

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 5

-Paragraph 15

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 08

-Article 4

Reference 10: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.3-04)

-URI http://asc.fasb.org/extlink&oid=6959260&loc=d3e187085-122770

Reference 11: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Staff Accounting Bulletin (SAB)

-Number Topic 4

-Section C

Reference 12: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 5

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644

Reference 13: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.29-31)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 14: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 4

-Section 08

-Paragraph d

Reference 15: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Staff Accounting Bulletin (SAB)

-Number Topic 4

-Section E

Reference 16: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 30

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656

Reference 17: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 18: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.4-08.(d),(e))

-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 19: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 43

-Chapter 1

-Section B

-Paragraph 7, 11A

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 20: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644

Reference 21: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Principles Board Opinion (APB)

-Number 12

-Paragraph 10

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 22: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 6

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644

Reference 23: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 11

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21564-112644

+ Details

Name: us-gaap_StockholdersEquityNoteDisclosureTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

XML 28 R14.htm IDEA: XBRL DOCUMENT v2.4.0.6

STOCK REPURCHASE PLAN
9 Months Ended

Mar. 31, 2012

STOCK REPURCHASE PLAN

NOTE 9- STOCK REPURCHASE PLAN

In February 2008, the Company’s Board of Directors authorized a stock repurchase program. Under the stock repurchase program, the Company may purchase outstanding shares of its common stock on the open market at such times and prices determined in the sole discretion of management. No shares were acquired pursuant to the repurchase program during the three and nine month periods ended March 31, 2012.

X

- Definition

Share Repurchase Program Disclosure

+ References

No definition available.

+ Details

Name: ptsx_ShareRepurchaseProgramDisclosureTextBlock

Namespace Prefix: ptsx_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

XML 29 R5.htm IDEA: XBRL DOCUMENT v2.4.0.6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
9 Months Ended

Mar. 31, 2012

Mar. 31, 2011

Cash flows from operating activities:

Net income (loss) $ (167,000) $ (2,391,000)

Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:

(Gain) loss on sale of fixed assets 7,000 (181,000)

Depreciation and amortization 2,260,000 2,752,000

Amortization of deferred gain on real estate (134,000) (134,000)

Amortization of deferred lease credit (103,000)

Provision for (recovery of) doubtful accounts (31,000) (50,000)

Stock compensation expense 252,000 232,000

Impairment of long lived assets 684,000

Amortization of non-compete agreement 4,000 5,000

Changes in operating assets and liabilities:

(Increase) decrease in accounts receivable (808,000) 93,000

Decrease in inventories 172,000 72,000

(Increase) in prepaid expenses and other current assets (527,000) (925,000)

Decrease in prepaid income taxes 2,000 1,497,000

(Increase) Decrease in other assets 3,000 (400,000)

Increase in deferred lease incentive 1,964,000

Increase (decrease) in accounts payable 171,000 (955,000)

Increase (decrease) in accrued wages and benefits 462,000 (53,000)

(Decrease) in other accrued expenses (84,000) (822,000)

Net cash provided by (used in) operating activities 3,443,000 (576,000)

Cash flows from investing activities:

Capital expenditures (3,175,000) (957,000)

Proceeds from sale of property and equipment 329,000

Net cash (used in) investing activities (3,175,000) (628,000)

Cash flows from financing activities:

Proceeds from line of credit, net 94,000 1,200,000

Issuance of common stock 315,000

Repayment of notes payable (510,000) (157,000)

Repayment of capital lease obligations (165,000) (147,000)

Net cash provided by (used in) financing activities (581,000) 1,211,000

Net increase (decrease) in cash and cash equivalents (313,000) 7,000

Cash and cash equivalents at beginning of period 355,000 ^[1] 249,000

Cash and cash equivalents at end of period 42,000 256,000

Cash payments for income taxes (net of refunds) 2,000 (1,497,000)

Cash payments for interest 594,000 542,000

Settlement of a lawsuit for common stock 315,000

Assets acquired through capital lease obligations $ 148,000

[1] Amounts derived from audited financial statements

X

- Definition

Provision For Reduction Of Doubtful Accounts

+ References

No definition available.

+ Details

Name: ptsx_ProvisionForReductionOfDoubtfulAccounts

Namespace Prefix: ptsx_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

The cash outflow for the obligation for lease meeting the criteria for capitalization (includes both long and short term portions).

+ References

No definition available.

+ Details

Name: ptsx_RepaymentsOfCapitalLeaseObligations

Namespace Prefix: ptsx_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Details

Name: us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 350

-SubTopic 30

-Section 50

-Paragraph 2

-Subparagraph (a)(2)

-URI http://asc.fasb.org/extlink&oid=6905858&loc=d3e16323-109275

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 142

-Paragraph 45

-Subparagraph a(2)

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-Subparagraph (b)

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 350

-SubTopic 30

-Section 45

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6388964&loc=d3e16225-109274

+ Details

Name: us-gaap_AmortizationOfIntangibleAssets

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

Future cash outflow to pay for purchases of fixed assets that have occurred.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 50

-Paragraph 4

-URI http://asc.fasb.org/extlink&oid=6367179&loc=d3e4313-108586

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6367179&loc=d3e4304-108586

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 50

-Paragraph 5

-URI http://asc.fasb.org/extlink&oid=6367179&loc=d3e4332-108586

+ Details

Name: us-gaap_CapitalExpendituresIncurredButNotYetPaid

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

Includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the Entity may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Compensating balance arrangements that do not legally restrict the withdrawal or usage of cash amounts may be reported as Cash and Cash Equivalents, while legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits are not generally reported as cash and cash equivalents. Includes cash and cash equivalents associated with the entity's continuing operations. Excludes cash and cash equivalents associated with the disposal group (and discontinued operation).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.1)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 1

-Article 5

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 7

-Footnote 1

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 4

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3044-108585

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 8, 9

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section 45

-Paragraph 1

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=6361293&loc=d3e6676-107765

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Cash

-URI http://asc.fasb.org/extlink&oid=6506951

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 7, 26

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Cash Equivalents

-URI http://asc.fasb.org/extlink&oid=6507016

+ Details

Name: us-gaap_CashAndCashEquivalentsAtCarryingValue

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition

The increase (decrease) during the reporting period in cash and cash equivalents. While for technical reasons this element has no balance attribute, the default assumption is a debit balance consistent with its label.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 26

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 24

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3521-108585

+ Details

Name: us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: na

Period Type: duration

X

- Definition

The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-Subparagraph (b)

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

+ Details

Name: us-gaap_DepreciationDepletionAndAmortization

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

The gains (losses) included in earnings resulting from the sale or disposal of tangible assets. This item does not include any gain (loss) recognized on the sale of oil and gas property or timber property.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 144

-Paragraph 47

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 360

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6391110&loc=d3e2941-110230

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 205

-SubTopic 20

-Section 50

-Paragraph 1

-Subparagraph (b)

-URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1361-107760

+ Details

Name: us-gaap_GainLossOnDispositionOfAssets

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

The aggregate amount of write-downs for impairments recognized during the period for long lived assets held for use (including those held for disposal by means other than sale).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 360

-SubTopic 10

-Section 45

-Paragraph 4

-URI http://asc.fasb.org/extlink&oid=6390789&loc=d3e2420-110228

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 360

-SubTopic 10

-Section 50

-Paragraph 2

-Subparagraph (b)

-URI http://asc.fasb.org/extlink&oid=6391110&loc=d3e2921-110230

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 144

-Paragraph 26

-Subparagraph b

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 958

-SubTopic 225

-Section 45

-Paragraph 11

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=6743430&loc=d3e92212-112881

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 144

-Paragraph 7, 25

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-Subparagraph (b)

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Impairment

-URI http://asc.fasb.org/extlink&oid=6515133

+ Details

Name: us-gaap_ImpairmentOfLongLivedAssetsHeldForUse

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

The amount of cash paid during the current period to foreign, federal, state, and local authorities as taxes on income, net of any cash received during the current period as refunds for the overpayment of taxes.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 29

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 27

-Subparagraph f

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6367179&loc=d3e4297-108586

+ Details

Name: us-gaap_IncomeTaxesPaidNet

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

The increase (decrease) during the reporting period in the aggregate amount of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 28

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

+ Details

Name: us-gaap_IncreaseDecreaseInAccountsPayable

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

The increase (decrease) during the reporting period in amount due within one year (or one business cycle) from customers for the credit sale of goods and services.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 28

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

+ Details

Name: us-gaap_IncreaseDecreaseInAccountsReceivable

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

The increase (decrease) during the reporting period in the account that represents the temporary difference that results from Income or Loss that is recognized for accounting purposes but not for tax purposes and vice versa.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 28

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

+ Details

Name: us-gaap_IncreaseDecreaseInDeferredIncomeTaxes

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

The increase (decrease) during the reporting period in the book value of deferred leasing fees. Amortization of these fees over the terms of the leases reduces deferred leasing fees. Originating new leases increases the balance of deferred leasing fees.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 28

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

+ Details

Name: us-gaap_IncreaseDecreaseInDeferredLeasingFees

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

The increase (decrease) during the reporting period in the aggregate amount of obligations related to services received from employees, such as accrued salaries and bonuses, payroll taxes and fringe benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 28

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

+ Details

Name: us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

The increase (decrease) during the reporting period in the aggregate value of all inventory held by the reporting entity, associated with underlying transactions that are classified as operating activities.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 28

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

+ Details

Name: us-gaap_IncreaseDecreaseInInventories

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Details

Name: us-gaap_IncreaseDecreaseInOperatingCapitalAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

The increase (decrease) during the reporting period in other expenses incurred but not yet paid.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 28

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

+ Details

Name: us-gaap_IncreaseDecreaseInOtherAccruedLiabilities

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

The increase (decrease) during the reporting period in other assets used in operating activities not separately disclosed in the statement of cash flows. May include changes in other current assets, other noncurrent assets, or a combination of other current and noncurrent assets.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 28

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

+ Details

Name: us-gaap_IncreaseDecreaseInOtherOperatingAssets

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

The increase (decrease) during the reporting period in the value of prepaid expenses and other assets not separately disclosed in the statement of cash flows, for example, deferred expenses, intangible assets,or income taxes.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 28

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

+ Details

Name: us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

The amount of cash paid for interest during the period.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 29

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 25

-Subparagraph (e)

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3536-108585

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6367179&loc=d3e4297-108586

+ Details

Name: us-gaap_InterestPaid

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

The net cash inflow or outflow from financing activity for the period.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 26

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 24

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3521-108585

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 26

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3574-108585

+ Details

Name: us-gaap_NetCashProvidedByUsedInFinancingActivities

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Details

Name: us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

The net cash inflow or outflow from investing activity.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 26

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 24

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3521-108585

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 26

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3574-108585

+ Details

Name: us-gaap_NetCashProvidedByUsedInInvestingActivities

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Details

Name: us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

The net cash from (used in) all of the entity's operating activities, including those of discontinued operations, of the reporting entity. Operating activities generally involve producing and delivering goods and providing services. Operating activity cash flows include transactions, adjustments, and changes in value that are not defined as investing or financing activities. While for technical reasons this element has no balance attribute, the default assumption is a debit balance consistent with its label.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 24

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3521-108585

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 25

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3536-108585

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 28

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 26

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

+ Details

Name: us-gaap_NetCashProvidedByUsedInOperatingActivities

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: na

Period Type: duration

X

- Details

Name: us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 944

-SubTopic 225

-Section S99

-Paragraph 1

-Subparagraph (SX 210.7-04.22)

-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 225

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SX 210.5-03.18)

-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 38

-Subparagraph a

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 6

-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e565-108580

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph A7

-Appendix A

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 130

-Paragraph 10, 15

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Other Comprehensive Income

-URI http://asc.fasb.org/extlink&oid=6519514

Reference 10: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 38

-Subparagraph d

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 11: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Emerging Issues Task Force (EITF)

-Number 87-21

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 12: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Net Income

-URI http://asc.fasb.org/extlink&oid=6518256

Reference 13: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 944

-SubTopic 225

-Section S99

-Paragraph 1

-Subparagraph (SX 210.7-04.19)

-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 14: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 5

-Section 03

-Paragraph 19

Reference 15: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 28, 29, 30

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 16: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 04

-Paragraph 20

-Article 9

+ Details

Name: us-gaap_NetIncomeLoss

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

Other income (expense) included in net income that results in no cash inflows or outflows in the period. Includes noncash adjustments to reconcile net income (loss) to cash provided by (used in) operating activities that are not separately disclosed.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 28

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

+ Details

Name: us-gaap_OtherNoncashIncomeExpense

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 13

-Subparagraph (c)

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3213-108585

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 15

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 17

-Subparagraph c

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Investing Activities

-URI http://asc.fasb.org/extlink&oid=6516133

+ Details

Name: us-gaap_PaymentsToAcquirePropertyPlantAndEquipment

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

The cash inflow from the additional capital contribution to the entity.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 14

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3255-108585

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 18

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 19

-Subparagraph a

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Financing Activities

-URI http://asc.fasb.org/extlink&oid=6513228

+ Details

Name: us-gaap_ProceedsFromIssuanceOfCommonStock

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

The net cash inflow or cash outflow from a contractual arrangement with the lender, including letter of credit, standby letter of credit and revolving credit arrangements, under which borrowings can be made up to a specific amount at any point in time with either short term or long term maturity that is collateralized (backed by pledge, mortgage or other lien in the entity's assets).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Name Accounting Standards Codification

-Publisher FASB

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 9

-Subparagraph c

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3098-108585

+ Details

Name: us-gaap_ProceedsFromRepaymentsOfLinesOfCredit

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

The cash inflow from the sale of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 12

-Subparagraph (c)

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3179-108585

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 15

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 16

-Subparagraph c

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Investing Activities

-URI http://asc.fasb.org/extlink&oid=6516133

+ Details

Name: us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

The amount of previously reported deferred or unearned revenue that was recognized as revenue during the period. For cash flows, this element primarily pertains to amortization of deferred credits on long-term arrangements. As a noncash item, it is deducted from net income when calculating cash provided by or used in operations using the indirect method.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Staff Accounting Bulletin (SAB)

-Number Topic 13

-Section A

-Subsection 1

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 605

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SAB TOPIC 13.A.4(a).Q1)

-URI http://asc.fasb.org/extlink&oid=6600647&loc=d3e214044-122780

+ Details

Name: us-gaap_RecognitionOfDeferredRevenue

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

The cash outflow for a borrowing supported by a written promise to pay an obligation.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 15

-Subparagraph (b)

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3291-108585

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 18

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 20

-Subparagraph b

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Financing Activities

-URI http://asc.fasb.org/extlink&oid=6513228

+ Details

Name: us-gaap_RepaymentsOfNotesPayable

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 28

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

+ Details

Name: us-gaap_ShareBasedCompensation

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

The fair value of stock issued in noncash financing activities.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 50

-Paragraph 5

-URI http://asc.fasb.org/extlink&oid=6367179&loc=d3e4332-108586

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 32

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 50

-Paragraph 4

-URI http://asc.fasb.org/extlink&oid=6367179&loc=d3e4313-108586

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6367179&loc=d3e4304-108586

+ Details

Name: us-gaap_StockIssued1

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

XML 30 R10.htm IDEA: XBRL DOCUMENT v2.4.0.6

INCOME TAXES
9 Months Ended

Mar. 31, 2012

INCOME TAXES

NOTE 5- INCOME TAXES

The Company reviewed its ASC 740-10 documentation for the periods through March 31, 2012 to ascertain if any changes should be made with respect to tax positions previously taken. In addition, the Company reviewed its income tax reporting through March 31, 2012. Based on Company’s review of its tax positions as of March 31, 2012, no new uncertain tax positions have resulted; nor has new information become available that would change management’s judgment with respect to tax positions previously taken.

As of March 31, 2012, the Company's net deferred tax assets were nil. No tax benefit was recorded during the three and nine month periods ended March 31, 2012 because future realizability of such benefit was not considered to be more likely than not. At March 31, 2012, the Company had a gross deferred tax asset of $9.3 million, and a corresponding valuation allowance of $9.3 million. At June 30, 2011, the Company had a gross deferred tax asset of $9.1 million, and a corresponding valuation allowance of $9.1 million.

The ASC prescribes a recognition and measurement of a tax position taken or expected to be taken in a tax return and provides guidance on derecognition of tax benefits, classification on the balance sheet, interest and penalties, accounting in interim periods, disclosure, and transition.

The Company files income tax returns in the U.S. federal jurisdiction, and various state jurisdictions. With few exceptions, the Company is no longer subject to U.S. federal state or local income tax examinations by tax authorities for years before 2002. The Company has analyzed its filing positions in all of the federal and state jurisdictions where it is required to file income tax returns. The Company was last audited by New York taxing authorities for the years 2002 through 2004 resulting in no change. The Company was previously notified by the U.S Internal Revenue Service of its intent to audit the calendar 2005 tax return. The audit has since been cancelled by the IRS without change; however, the audit could be reopened at the IRS’ discretion.

The Company was notified by the IRS in September 2009 of its intent to audit federal tax returns for calendar year 2006 and the period from January 1 to August 13, 2007.

During fiscal 2010, the Company received a federal tax refund of approximately $0.4 million related to refunds due for tax year 2005. In July 2010, the Company received a refund of $1.5 million related to tax year 2006.

The Company was notified by the Franchise Tax Board in April 2011 of its intent to audit California tax returns for the fiscal years ended June 30, 2008 and 2009. The audit was performed and concluded with no change.

X

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 109

-Paragraph 136, 172

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 109

-Paragraph 43, 44, 45, 46, 47, 48, 49

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 08

-Paragraph h

-Article 4

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32559-109319

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 9

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 15

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.4-08.(h))

-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

+ Details

Name: us-gaap_IncomeTaxDisclosureTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

XML 31 FilingSummary.xml IDEA: XBRL DOCUMENT 2.4.0.6 Html 8 107 1 true 0 0 false 3 false false R1.htm 101 - Document - Document and Entity Information Sheet http://www.point360.com/taxonomy/role/DocumentDocumentandEntityInformation Document and Entity Information true false R2.htm 103 - Statement - CONDENSED CONSOLIDATED BALANCE SHEETS Sheet http://www.point360.com/taxonomy/role/StatementOfFinancialPositionClassified CONDENSED CONSOLIDATED BALANCE SHEETS false false R3.htm 104 - Statement - CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) Sheet http://www.point360.com/taxonomy/role/StatementOfFinancialPositionClassifiedParenthetical CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) false false R4.htm 105 - Statement - CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS Sheet http://www.point360.com/taxonomy/role/StatementOfIncome CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS false false R5.htm 106 - Statement - CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS Sheet http://www.point360.com/taxonomy/role/StatementOfCashFlowsIndirect CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS false false R6.htm 107 - Disclosure - THE COMPANY Sheet http://www.point360.com/taxonomy/role/NotesToFinancialStatementsOrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock THE COMPANY false false R7.htm 108 - Disclosure - LONG TERM DEBT AND NOTES PAYABLE Notes http://www.point360.com/taxonomy/role/NotesToFinancialStatementsDebtDisclosureTextBlock LONG TERM DEBT AND NOTES PAYABLE false false R8.htm 109 - Disclosure - PROPERTY AND EQUIPMENT Sheet http://www.point360.com/taxonomy/role/NotesToFinancialStatementsPropertyPlantAndEquipmentDisclosureTextBlock PROPERTY AND EQUIPMENT false false R9.htm 110 - Disclosure - COMMITMENTS AND CONTINGENCIES Sheet http://www.point360.com/taxonomy/role/NotesToFinancialStatementsCommitmentsAndContingenciesDisclosureTextBlock COMMITMENTS AND CONTINGENCIES false false R10.htm 111 - Disclosure - INCOME TAXES Sheet http://www.point360.com/taxonomy/role/NotesToFinancialStatementsIncomeTaxDisclosureTextBlock INCOME TAXES false false R11.htm 112 - Disclosure - STOCK OPTION PLAN, STOCK-BASED COMPENSATION Sheet http://www.point360.com/taxonomy/role/NotesToFinancialStatementsDisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock STOCK OPTION PLAN, STOCK-BASED COMPENSATION false false R12.htm 113 - Disclosure - STOCK RIGHTS PLAN Sheet http://www.point360.com/taxonomy/role/NotesToFinancialStatementsStockholderRightsPlan STOCK RIGHTS PLAN false false R13.htm 114 - Disclosure - SHAREHOLDER'S EQUITY Sheet http://www.point360.com/taxonomy/role/NotesToFinancialStatementsStockholdersEquityNoteDisclosureTextBlock SHAREHOLDER'S EQUITY false false R14.htm 115 - Disclosure - STOCK REPURCHASE PLAN Sheet http://www.point360.com/taxonomy/role/NotesToFinancialStatementsShareRepurchaseProgramDisclosureTextBlock STOCK REPURCHASE PLAN false false R15.htm 116 - Disclosure - SEGMENT INFORMATION Sheet http://www.point360.com/taxonomy/role/NotesToFinancialStatementsSegmentReportingDisclosureTextBlock SEGMENT INFORMATION false false All Reports Book All Reports Process Flow-Through: 103 - Statement - CONDENSED CONSOLIDATED BALANCE SHEETS Process Flow-Through: Removing column 'Mar. 31, 2011' Process Flow-Through: Removing column 'Jun. 30, 2010' Process Flow-Through: 104 - Statement - CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) Process Flow-Through: 105 - Statement - CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS Process Flow-Through: 106 - Statement - CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS ptsx-20120331.xml ptsx-20120331.xsd ptsx-20120331_cal.xml ptsx-20120331_def.xml ptsx-20120331_lab.xml ptsx-20120331_pre.xml true true

Document and Entity Information	9 Months Ended
Document and Entity Information	Mar. 31, 2012
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2012
Document Fiscal Year Focus	2012
Document Fiscal Period Focus	Q3
Trading Symbol	PTSX
Entity Registrant Name	POINT.360
Entity Central Index Key	0001398797
Current Fiscal Year End Date	--06-30
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding	10,513,166

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	3 Months Ended		9 Months Ended
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	Mar. 31, 2012	Mar. 31, 2011	Mar. 31, 2012	Mar. 31, 2011
Revenues	$ 8,497,000	$ 9,258,000	$ 26,008,000	$ 26,600,000
Cost of services sold	(5,657,000)	(5,990,000)	(16,696,000)	(18,485,000)
Gross profit	2,840,000	3,268,000	9,312,000	8,115,000
Selling, general and administrative expense	(3,045,000)	(3,221,000)	(9,209,000)	(10,182,000)
Research and development expense		(18,000)		(352,000)
Impairment of long lived assets		(684,000)		(684,000)
Operating Income (loss)	(205,000)	(655,000)	103,000	(3,103,000)
Interest expense	(199,000)	(216,000)	(637,000)	(611,000)
Interest income			20,000	62,000
Other income	77,000	1,083,000	347,000	1,261,000
Income (loss) before income taxes	(327,000)	212,000	(167,000)	(2,391,000)
Provision for income taxes
Net income (loss)	$ (327,000)	$ 212,000	$ (167,000)	$ (2,391,000)
Basic:
Net income (loss)	$ (0.03)	$ 0.02	$ (0.02)	$ (0.22)
Weighted average number of shares	10,513,166	10,763,166	10,513,166	10,685,611
Diluted:
Net income (loss)	$ (0.03)	$ 0.02	$ (0.02)	$ (0.22)
Weighted average number of shares including the dilutive effect of stock options	10,513,166	10,763,166	10,513,166	10,685,611