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Subsequent Events
6 Months Ended
Jun. 30, 2012
Subsequent Events

9.     Subsequent Events

 

Facility Operating Lease - In July 2012, the Company entered into an amended facility lease at its current location that will accommodate the Company corporate offices as well as the Digital division. The commencement date of the amended lease will be October 1, 2012, until such time, the Company will continue to lease space for its corporate offices and Digital division on a month to month basis. The amended facility lease will expire September 30, 2015, and future lease payments are expected to be approximately $39,000 in 2012, $157,000 in 2013, $169,000 in 2014 and $133,000 in 2015.

 

Warrant Exercise -In July 2012, the Company received $500,000 as the result of the exercise of warrants by certain holders that resulted in the issuance of an aggregate of 161,290 shares of the Company’s common stock.