Subsequent Events

12 Months Ended

Dec. 31, 2011

Subsequent Events

Subsequent Events

16. Subsequent Events

In February 2012 we entered into capital lease agreements with US Bank for approximately $3.0 million for various furniture and equipment at our El Segundo headquarters office. We expect to enter into $1.3 million of additional capital lease agreements in the near term.

In February 2012, one of our wholly-owned subsidiaries entered into an agreement with Nautilus Group, Inc. (the “Buyer”) to sell certain real property to the Buyer for a total cash sales price of $17.5 million. The real property is located in Santa Monica, California and includes approximately 32,500 square feet of land together with a building of approximately 9,750 square feet.  The building is currently being used by our subsidiary as a technology products retail store. The sale of the property will result in a book gain of approximately $15.9 million. Until May 13, 2012 the (“Contingency Date”), the Buyer is entitled to terminate the agreement for any reason while it conducts due diligence related to the property.  The agreement also contains other customary closing conditions to the purchase and sale of the real property.

In February 2012, we drew down an additional $2.9 million on our existing credit facility which finances the acquisition and improvement of the real property we purchased in El Segundo, California.  Principal repayment began in March 2012.