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Loans Payable
6 Months Ended
Dec. 31, 2011
Notes to Financial Statements  
Loans Payable

7. Loans Payable

 

The Company financed the purchase of a 6.25% fractional interest in a G-IV jet.  The financing of $940 provides for interest at the rate of 6% per annum, monthly payments of $9 and a balloon payment at maturity in 5 years of $661.  Payments on this debt during the period ended December 31, 2011 and June 30, 2011 were $26 and $0, respectively.