LIQUIDITY	9 Months Ended
Sep. 30, 2012
LIQUIDITY [abstract]
LIQUIDITY	LIQUIDITY The Company's liquidity is closely monitored by management. The Company uses cash flow forecasting linked to production forecasts and existing and projected credit and bank facilities, to ensure there are sufficient resources to fulfill its strategic plans. The Company has a long term bank facility in the UK with Lloyds TSB which extends to August 2016 and has issued promissory notes to the vendors of a business purchased by the Company totaling $2.877 million which are not due for full redemption until December 2014. During the last quarter, the Company took the opportunity to renegotiate the terms of these promissory notes, extending the repayment schedule through to December 2014; an extension of 16 months. This has aligned the debt repayment schedule more closely with the Company's cash generation capabilities. The UK term loan from Lloyds TSB has a covenant that links to the net worth of the Company. Further details of these borrowings are set out in Note 11. Short-term credit facilities are heavily dependent upon the sales and underlying profitability of the Company's subsidiaries. Credit facilities for the operating subsidiaries are a function of accounts receivable. The Company reported working capital of $6.6 million at September 30, 2012 compared with $7.2 million at December 31, 2011. There are no major capital expenditure plans which will absorb working capital and management considers that the current level of working capital is adequate for the Company's current requirements. The majority of the Company's cash is held by its foreign subsidiaries, while there are limitations on the amounts that may be repatriated for use in paying corporate expenses and paying corporate debt the overseas companies pay management charges to the parent Company for services and brand name use and also pay dividends. Management regularly reviews existing banking and other finance facilities. The continuing improvement in sales and the resulting cash flows from operations combined with the financing arrangements referred to above substantiates the Company's belief that it has sufficient funding to support its working capital requirements during the next 12 months and beyond. The Company has a substantial backlog of orders as of September 30, 2012, which is expected to ship within the next 12 months. The Company continues to experience sufficient booking levels to support anticipated future shipments. The Company expects the fourth quarter of 2012 to have a high level of shipments against the existing backlog of orders which will result in improved cash from operations in the first quarter of 2013. In order to support its future expected growth, the Company will need to reinvest a significant portion of this cash from operations back into the business for inventory purchases, engineering and product development and personnel. Therefore, management closely manages cash from operations to meet the operational needs of the business and satisfy near-term debt service obligations.

LIQUIDITY

The Company's liquidity is closely monitored by management. The Company uses cash flow forecasting linked to production forecasts and existing and projected credit and bank facilities, to ensure there are sufficient resources to fulfill its strategic plans. The Company has a long term bank facility in the UK with Lloyds TSB which extends to August 2016 and has issued promissory notes to the vendors of a business purchased by the Company totaling $2.877 million which are not due for full redemption until December 2014. During the last quarter, the Company took the opportunity to renegotiate the terms of these promissory notes, extending the repayment schedule through to December 2014; an extension of 16 months. This has aligned the debt repayment schedule more closely with the Company's cash generation capabilities. The UK term loan from Lloyds TSB has a covenant that links to the net worth of the Company. Further details of these borrowings are set out in Note 11.

Short-term credit facilities are heavily dependent upon the sales and underlying profitability of the Company's subsidiaries.

Credit facilities for the operating subsidiaries are a function of accounts receivable. The Company reported working capital of $6.6 million at September 30, 2012 compared with $7.2 million at December 31, 2011. There are no major capital expenditure plans which will absorb working capital and management considers that the current level of working capital is adequate for the Company's current requirements. The majority of the Company's cash is held by its foreign subsidiaries, while there are limitations on the amounts that may be repatriated for use in paying corporate expenses and paying corporate debt the overseas companies pay management charges to the parent Company for services and brand name use and also pay dividends.

Management regularly reviews existing banking and other finance facilities. The continuing improvement in sales and the resulting cash flows from operations combined with the financing arrangements referred to above substantiates the Company's belief that it has sufficient funding to support its working capital requirements during the next 12 months and beyond. The Company has a substantial backlog of orders as of September 30, 2012, which is expected to ship within the next 12 months. The Company continues to experience sufficient booking levels to support anticipated future shipments. The Company expects the fourth quarter of 2012 to have a high level of shipments against the existing backlog of orders which will result in improved cash from operations in the first quarter of 2013. In order to support its future expected growth, the Company will need to reinvest a significant portion of this cash from operations back into the business for inventory purchases, engineering and product development and personnel. Therefore, management closely manages cash from operations to meet the operational needs of the business and satisfy near-term debt service obligations.