Note I - Debt

9 Months Ended

Sep. 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 September 30, 2011 were as follows:

	September 30,
2012	$	750,000
2013		46,987,518
		47,737,518
Discount – Victory Park (see Note H)		(4,761,268	)
	$	42,976,250
Presentation on Balance Sheet:
	September 30, 2011			December 31, 2010
Notes payable – Levys: long-term (see Note G)	$	13,987,518		$	14,737,518
Notes payable – Levys: short-term (see Note G)		750,000			--
Notes payable – Victory Park –net of discount of $4,761,268 in 2011 and $7,209,700 in 2010 (see Note H)		28,238,732			25,790,300
Note payable-former China Joint Venture Partner (see Note K)		--			1,200,000
	$	42,976,250		$	41,727,818