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Notes Payable
 12 Months Ended
Dec. 31, 2011
Notes Payable [Abstract]  
Notes Payable

9. Notes Payable

Notes payable consists of the following at:

 

     December 31,
2011		     December 31,
2010		  

Note payable, unsecured, due February 2011, monthly payments $7,320 including interest at 6.0% annually.

    $ —        $ 9   

Note payable, unsecured, due January 2011, monthly payments of $8,247, including interest at 6% annually

      —          15   

Note payable, unsecured, due Dec 2013, with interest at 7%. There are no monthly payments due.

      80        80   

Note payable, unsecured, due Dec 2013, with interest at 7%. There are no monthly payments due.

      220        220   

Note payable, unsecured, due Dec 2013, with interest at 7%. There are no monthly payments due.

      100        100   

Note payable, unsecured, due Dec 2013, with interest at 7%. There are no monthly payments due.

      200        200   

Note payable, unsecured, due Oct 2013, with interest at 7%. There are no monthly payments due.

      518        518   

Note payable, unsecured, due April 2012, with no stated interest rate.

     175        375   

Note payable, unsecured, due December 2015, quarterly payments

     

Of $25 plus interest at 6.5%.

      400        500   
  

 

 

    

 

 

  
     1,693        2,017   

Less current portion

      (275 )      (323 ) 
  

 

 

    

 

 

  
   $ 1,418      $ 1,694   
  

 

 

    

 

 

  

Interest expense on the notes for the years ended December 31, 2011 was $108 and December 31, 2010 was $90.

For notes that have no stated interest rates, the Company has imputed a rate of 6%.

The future payments on notes payable are as follows: (dollar amounts in thousands)

 

Calendar Year       

2012

    $ 275   

2013

      1,218   

2014

      100   

2015

      100   
  

 

 

  

Total future payments

    $ 1,693