Note I - Debt

6 Months Ended

Jun. 30, 2011

Debt Disclosure [Text Block]

NOTE I - DEBT

We currently have short-term and long-term debt outstanding to Victory Park and the Levys.

Aggregate maturities of all outstanding debt at June 30, 2011 were as follows:

		June 30,
2012	$	300,000
2013		47,437,518
		47,737,518
Discount – Victory Park (see Note H)		(5,577,412	)
	$	42,160,106

Presentation on Balance Sheet:

	June 30, 2011		December 31, 2010
Notes payable – Levys: long-term (see Note G)	$	14,437,518	$	14,737,518
Notes payable – Levys: short-term (see Note G)		300,000		--
Notes payable – Victory Park –net of discount of $5,577,412 in 2011 and $7,209,700 in 2010 (see Note H)		27,422,588		25,790,300
Note payable-former China Joint Venture Partner (see Note K)		--		1,200,000
	$	42,160,106	$	41,727,818