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7. DEFERRED FINANCING COSTS, NET	3 Months Ended
Mar. 31, 2014
Notes to Financial Statements
7. DEFERRED FINANCING COSTS, NET	As of March 31, 2014, we had recognized $115,000 of deferred financing costs. On January 10, 2014 the Company paid $15,000 to Full Circle Capital Corporation (“Full Circle”) as a deposit for deal-related expenses related to the long-term financing commitment. On January 21, 2014 as part of the $500,000 proceeds from the warrant being issued to Full Circle, $100,000 was retained by Full Circle out of the total consideration of $500,000 to cover legal and deal-related expenses in connection with the long-term financing commitment from Full Circle (see Note 11). The deferred financing costs of $115,000 are being amortized over the estimated term of the long-term financing agreement of three years (see Note 11). For the three month period ended March 31, 2014, amortization expense was approximately $6,000. The unamortized deferred financing balance at March 31, 2014 was approximately $109,000.

7. DEFERRED FINANCING COSTS, NET

3 Months Ended

Mar. 31, 2014

As of March 31, 2014, we had recognized $115,000 of deferred financing costs. On January 10, 2014 the Company paid $15,000 to Full Circle Capital Corporation (“Full Circle”) as a deposit for deal-related expenses related to the long-term financing commitment. On January 21, 2014 as part of the $500,000 proceeds from the warrant being issued to Full Circle, $100,000 was retained by Full Circle out of the total consideration of $500,000 to cover legal and deal-related expenses in connection with the long-term financing commitment from Full Circle (see Note 11).

The deferred financing costs of $115,000 are being amortized over the estimated term of the long-term financing agreement of three years (see Note 11). For the three month period ended March 31, 2014, amortization expense was approximately $6,000. The unamortized deferred financing balance at March 31, 2014 was approximately $109,000.