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Note 5 - Notes and Debentures Payable

3 Months Ended

Mar. 31, 2012

(5) Notes and Debentures Payable

The following table summarizes note and debenture activity for the three months ended March 31, 2012 (in thousands):

	Balance 12/31/11		Additions		Conversion to Equity		Repayments		Balance 3/31/12

Current Notes and Debentures

12% Convertible Debentures – Mercator assignees	$	60	$	-	$	-	$	-	$	60

4% Note Payable – Morningtown	$	39	$	-	$	-	$	-	$	39

- 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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