9. Long-Term Debt

Since October 1998, the Company has maintained a credit facility with the Ardinger Partnership (as defined in Note 13) an entity controlled by one of its principal stockholders, H.T. Ardinger, Jr. (“Ardinger”) Most recently, ViewCast.com, Inc., Osprey Technologies, Inc. and VideoWare, Inc. (jointly and severally, the “Borrower”) amended the terms and conditions of the loan and security agreement with the Ardinger Partnership effective March 31, 2011. Under the amended terms minimum monthly principal payments of $21,422 will begin December 31, 2011 and any amount outstanding of the primary principal and the secondary principal mature December 31, 2014, subject to certain earlier payment conditions. The interest on the primary principal amount will accrue and be paid monthly based on an interest rate per annum which is the greater of 5.0% or the effective prime rate plus 0.75% (effective rate of 5.0% as of December 31, 2010 and September 30, 2011). Interest on the secondary principal shall accrue and be paid monthly based on the effective Applicable Federal Rate, as defined in the agreement, (0.32% and 1.63% as of December 31, 2010 and September 30, 2011, respectively). The amended note agreement is secured by all the assets of the Borrower. In the event of default, the Ardinger Partnership may exercise one or more of the following rights and remedies (i) the entire unpaid balance of principal of the note, together with all accrued but unpaid interest thereon, and all other indebtedness owing to the Ardinger Partnership or by the Company shall, at the option of the Ardinger Partnership become immediately due and payable (ii) the Ardinger Partnership may, at its option, cease further advances.

The Company’s long-term debt consisted of:


	December 31, 2010			September 30, 2011
				(Unaudited)
Outstanding Primary Principal Amount	$	1,121,466		$	1,078,621
Outstanding Secondary Principal Amount		3,891,361			4,591,361
Other debt		53,919			86,726

Total long-term debt		5,066,746			5,756,708
Less current maturities		(284,523	)		(260,417	)

Total long-term debt less current maturities	$	4,782,223		$	5,496,291