Subsequent Events

6 Months Ended

Jun. 30, 2011

Subsequent Events

Subsequent Events

25. Subsequent Events

The Company evaluated subsequent events through the date of issuance of the accompanying consolidated financial statements.  There were no events requiring disclosure other than the matters below.

Appointment and Departures of Certain Officers

Mr. John Griff

On July 7, 2011, the Board of Directors of the Company appointed Mr. John Griff, age 55, Chief Operating Officer (“COO”) of the Company, effective as of July 18, 2011.

As an inducement to commence employment with the Company, the Company also agreed to award Mr. Griff stock options to purchase up to 1,000,000 shares of Company common stock.  The stock options, which were granted on August 4, 2011, have a six-year term, a per share exercise price of $1.46 and will vest in three equal installments on each of the first three one-year anniversaries of the grant date, subject to Mr. Griff’s continued employment with the Company (except as otherwise provided in the award agreement in connection with certain terminations of employment).

Mr. Jeff Kugler

Our current Chief Financial Officer, Mr. Jeffrey Kugler, has tendered his resignation, and the Board of Directors of the Company has accepted such resignation, effective August 15, 2011.

Mr. Bryan Edmiston

On July 28, 2011, the Board of Directors of the Company appointed Mr. Bryan Edmiston, age 36, Controller of the Company, effective August 15, 2011.

FATV — Extension of Limited Partnership

The term of the Partnership was scheduled to end in July 2011, subject to extension by the vote of a majority of the limited partners, as provided in the limited partnership agreement applicable to the Partnership (the “Partnership Agreement”).  The term of the Partnership was extended for one year pursuant to such provision and is now scheduled to terminate on July 19, 2012.  Although the term may again be extended for another one year period under the Partnership Agreement, the Company currently expects the Partnership to terminate on such date.