DEBT ARRANGEMENTS	3 Months Ended
Sep. 30, 2011
DEBT ARRANGEMENTS	NOTE 2 - DEBT ARRANGEMENTS Term Note In May, 2010, the Company entered into a $1.0 million term note with a bank. The term loan matures on April 30, 2012 and bears interest at the fixed rate of 4.5%. The note is amortized equally over a 24 month period and therefore requires monthly principal payments of $42. The note is collateralized by substantially all the assets of the Company and is personally guaranteed by the Company’s chairman and majority shareholder. The loan requires the Company to maintain a minimum cash flow coverage ratio of 1.2 to 1.0 and a minimum current ratio of 1.0 at June 30, 2011 escalating to 1.15 and 1.20 at December 31, 2010 and June 30, 2011.

DEBT ARRANGEMENTS

3 Months Ended

Sep. 30, 2011

NOTE 2 - DEBT ARRANGEMENTS

Term Note

In May, 2010, the Company entered into a $1.0 million term note with a bank. The term loan matures on April 30, 2012 and bears interest at the fixed rate of 4.5%. The note is amortized equally over a 24 month period and therefore requires monthly principal payments of $42. The note is collateralized by substantially all the assets of the Company and is personally guaranteed by the Company’s chairman and majority shareholder. The loan requires the Company to maintain a minimum cash flow coverage ratio of 1.2 to 1.0 and a minimum current ratio of 1.0 at June 30, 2011 escalating to 1.15 and 1.20 at December 31, 2010 and June 30, 2011.