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Credit Facility
3 Months Ended
Mar. 31, 2012
Credit Facility/Loans Payable [Abstract]  
Credit Facility

Note 7 – Credit Facility

The Company has an unsecured line of credit facility for $20 million that expires August 20, 2013. The principal amount outstanding under the credit facility provides for interest at Libor plus 200 basis points with a 3% floor. In addition, the credit facility provides for an unused facility fee of 15 basis points payable monthly. The line of credit facility contains certain covenants and at March 31, 2012, the Company was in compliance with all covenants. The Company has no outstanding borrowings at March 31, 2012.