Capital Lease- Related Party

3 Months Ended

Mar. 31, 2012

Leases [Abstract]

Capital Lease- Related Party

6. Capital Lease – Related Party

On November 3, 2009, the Company entered into a capital lease with a related party of the Company for certain equipment to be used in the expansion of the Company’s capabilities and product lines. See Note 10, Related Party Transactions, of the accompanying consolidated financial statements for information on the related party transaction. Monthly payments of $7,500, which include an imputed fixed interest rate of 2.00%, commenced November 3, 2009 and will continue through the fourth quarter of 2016. At March 31, 2012, the present value of the minimum lease payment is approximately $394,000 (after subtracting approximately $19,000 of imputed interest).