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Convertible Debentures

3 Months Ended

Mar. 31, 2015

10.

Convertible Debentures

During the three months ending March 31, 2015, the Company issued no convertible debentures.

During the three months ended March 31, 2015 and 2014, the Company recognized $115,000 and $381,000, respectively, of interest expense on the Convertible Debentures.

	March 31, 2015

Convertible debentures	$	460
Debt discount		(345)
Net convertible debentures	$	115

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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