5. LONG-TERM DEBT

Long-term debt consists of the following:

	March 31,		June 30,
	2013		2012
	(unaudited)
Capital lease obligations	$	365,515	$	426,007
Loan agreement		109,016		302,323
		474,531		728,330
Less current portion		314,756		466,056
	$	159,775	$	262,274

During July 2012, the Company financed a portion of the premiums for various insurance policies totaling $128,062, due in ten monthly payments of $13,103 through May 2013 at an interest rate of 5.02%.

During January 2013, the Company entered into a capital lease for network equipment totaling approximately $45,000, due in thirty-seven monthly payments of $1,501 through December 2015 at an interest rate of 13.88%.

During March 2013, the Company entered into a capital lease for equipment to support customer service totaling approximately $15,000, due in thirty-six monthly payments of $464 through January 2016 at an interest rate of 7.40%.

During March 2013, the Company entered into a capital lease for network equipment totaling approximately $24,000, due in three annual installments of $8,686 through April 2015 at an interest rate of 4.89%.