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NOTE 2: LIQUIDITY AND FINANCIAL CONDITION
3 Months Ended
Mar. 31, 2012
Liquidity Disclosure [Policy Text Block]
NOTE 2: LIQUIDITY AND FINANCIAL CONDITION

On October 12, 2011, we received a cash distribution of $6,375 from Cuming Flotation Technologies, LLC, a Delaware limited liability company (“CFT”) in which we own a 20 percent common unit ownership interest.  We believe the receipt of this cash distribution, in addition to cash we expect to generate from operations, should ensure that we will have adequate liquidity to meet our future operating requirements.

Historically, we have supplemented the financing of our capital requirements through a combination of debt and equity transactions.  Most significant in this regard has been the credit facility we have maintained with Whitney Bank (“Whitney”). Our loans outstanding under our existing credit agreement with Whitney became due April 15, 2012.  We have negotiated an extension of the due date of our loans from Whitney to April 15, 2013.  We believe we will have sufficient liquidity to be able to repay these loans, plus accrued interest thereon, monthly as scheduled through April 15, 2013.

We had working capital of $4,471 at March 31, 2012.