Notes Payable, Long-Term Debt and Other Financing

6 Months Ended

Jun. 30, 2011

Notes Payable, Long-Term Debt and Other Financing/Revolving Credit Agreement [Abstract]

Notes payable, Long-Term Debt and Other Financing

7. Notes Payable, Long-Term Debt and Other Financing

     Notes payable consisted of the following at:

	June 30,			December 31,
	2011			2010
Secured note payable to Credit Managers Association of California, bearing interest at prime plus 3% (6.25% as of June 30, 2011), and is adjusted annually in April through maturity. Principal and unpaid interest due in April 2016. A sinking fund escrow may be funded with 10% of future equity financing, as defined in the Agreement	$	1,238,000		$	1,238,000
Secured note payable to a Coca Cola Enterprises in the original amount of $40,000, bearing interest at 10% per annum. Principal and unpaid interest due on demand		40,000			40,000
Secured note payable to a financial institution in the original amount of $39,000, bearing interest at 4.99% per annum, payable in 48 equal monthly installments of principal and interest through September 1, 2011		2,000			8,000
Secured note payable to a financial institution in the original amount of $38,000, bearing interest at 8.25% per annum, payable in 60 equal monthly installments of principal and interest through February 19, 2014		22,000			25,000
Secured note payable to a financial institution in the original amount of $19,000, bearing interest at 10.50% per annum, payable in 60 equal monthly installments of principal and interest through August 25, 2014		13,000			15,000
Secured note payable to a financial institution in the original amount of $26,000, bearing interest at 7.91% per annum, payable in 60 equal monthly installments of principal and interest through April 9, 2015		21,000			23,000
Secured note payable to a financial institution in the original amount of $25,000, bearing interest at 7.24% per annum, payable in 60 equal monthly installments of principal and interest through March 10, 2016		24,000			—
		1,360,000			1,349,000
Less current portion of notes payable		(63,000	)		(63,000	)
Notes payable, net of current portion	$	1,297,000		$	1,286,000

     As of June 30, 2011 and December 31, 2010, the balance of long term interest payable with respect to the Credit Managers Association of California note amounted to $1,170,000 and $1,132,000, respectively. Interest expense on notes payable amounted to $44,000 during each of the six months ended June 30, 2011 and 2010, respectively. Interest expense on notes payable amounted to $22,000 during each of the three months ended June 30, 2011 and 2010, respectively.