NOTE RECEIVABLE

3 Months Ended

Dec. 31, 2011

Receivables [Abstract]

NOTE RECEIVABLE

NOTE 3     NOTES RECEIVABLE

            On January 5, 2011, the Company entered into a loan agreement with Flash Ventures, Inc. (“Flash”), an unrelated party, to provide a credit facility of up to $1,000,000 that was originally due December 1, 2011.  Pursuant to the agreement Flash executed an unsecured, unsubordinated term note in favor of the Company, bearing interest at 11% per annum on any unpaid principal, payable quarterly commencing March 31, 2011.   On January 6, 2011 and January 19, 2011, Flash drew $600,000 and $400,000, respectively, in funds under the note, leaving no further funding available.  Effective December 1, 2011, the terms of the loan were amended to, among other things, extend the maturity date to April 1, 2012.  In connection with such amendment Flash made a principal payment of $250,000 on December 1, 2011. The Company recorded approximately $449,000 in sales to Flash under its customary terms of sale during the three-month period ended December 31, 2010.