Debt

12 Months Ended

Dec. 31, 2011

Debt [Abstract]

Debt

8. Debt

Term Loans

The Company entered into loan agreements with the Maryland Economic Development Assistance Authority Fund totaling $440,000 in 2011. The proceeds of the loans were used in the renovation of the new corporate headquarters in Beltsville, Maryland. The borrowings bear interest at 3.0%, and the term of the loans end on December 31, 2020. The conditions of the loans stipulate that principal and related accrued interest be forgiven if specified employment levels are achieved and maintained, and the Company maintains the Beltsville, Maryland location as the corporate headquarters through December 31, 2020. As of December 31, 2011, the Company has met the conditions of the loans, however, the conditions are required to be met throughout the term of the loan and, as such, the loan is recorded as a long-term liability. The $440,000 outstanding under these loans is included in notes payable and capital lease obligations, net of current portion and the related accrued interest is included in other liabilities.

Note Payable

The Company assumed a note payable as a result of its acquisition of Datapresse. Borrowings bear interest at the three month Euribor plus 1.6% (2.9% at December 31, 2011). Principal and interest payments are due quarterly with the final payment due in June 2014. As of December 31, 2011 outstanding borrowings were $189,000.

Future principal payments under the note payable outstanding at December 31, 2011 are as follows (in thousands):

2012	$	92
2013		65
2014		32
Total future minimum principal payments	$	189