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Commitments and Contingencies

12 Months Ended

Dec. 31, 2011

Commitments and Contingencies [Abstract]

NOTE 14 — COMMITMENTS AND CONTINGENCIES

Leases

The Company leases certain equipment under capital leases that expire through October 2013 and are collateralized by the related equipment. The Company has accounted for these leases using incremental borrowing rates ranging from 5.8% to 10.0%. The Company maintains operating leases for office space in nine locations in the United States, paid in installments due the beginning of each month and that expire through November 2015. Future aggregate minimum payments under capital and operating leases as of December 31, 2011 were as follows:


	Capital Leases			Operating Leases
2012	$	16,637		$	280,327
2013		12,855			162,865
2014		—			79,166
2015		—			21,028

Total future minimum lease payments		29,492		$	543,386

Less: amounts representing interest		(559	)

Present value of future minimum lease payments		28,933
Less: current portion		9,949

Capital lease obligation, net of current portion	$	18,984

The accompanying statement of operations for the years ended December 31, 2011, 2010, and 2009 includes approximately $443,257, $373,000 and $388,000 of rent expense, respectively.

- Definition

The entire disclosure for significant arrangements with third parties, which includes operating lease arrangements and arrangements in which the entity has agreed to expend funds to procure goods or services, or has agreed to commit resources to supply goods or services, and operating lease arrangements. Descriptions may include identification of the specific goods and services, period of time covered, minimum quantities and amounts, and cancellation rights.

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