Term Note Agreement

3 Months Ended

Mar. 31, 2012

Revolving Demand Note Agreement/Term Note Agreement [Abstract]

TERM NOTE AGREEMENT

(10) TERM NOTE AGREEMENT

On October 29, 2010, the Company entered into an agreement with Manufacturers and Traders Trust Company to provide a three year term loan in the amount of $200,000, the proceeds of which were used to purchase furnishings and fixtures for the Company’s new headquarters facility. The loan bears an interest rate of LIBOR plus 4.0%, with a minimum interest rate of 4.5%. At March 31, 2012, the remaining balance of the term loan was $105,555.