Notes Payable

The following is a summary of all notes payable:



(in thousands)	June 30, 2014
Promissory note ^(a)	$	500
Note payable^(b)	436
Less current maturities	(542		)
	$	394

^(a) In connection with the CorrectMed Acquisition discussed in Note 2, on May 8, 2014, the Company executed and delivered a promissory note in favor of the sellers in the initial principal amount of $500,000. The promissory note has a one-year term and simple interest accrues at a fixed rate of five percent (5%) per annum. The principal amount of this note is subject to adjustment based on working capital levels on the date of closing.

^(b) Repayments scheduled totaled $526,000 and is scheduled to be repaid in monthly installments through October of 2021. The note is unsecured and interest is at a fixed interest rate of 4.34% per annum, and monthly payments increase 5% every year. The note financed leasehold improvements to one of the center's facilities.