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Leases

12 Months Ended

Dec. 31, 2011

(14) Leases

The Company has a non-cancelable operating lease for the space in which its principal office is located. Future minimum lease payments under the non-cancellable operating lease are as follows:

	(in thousands)
Year Ending December 31,
2012	$	197
2013		65

Total minimum lease payment	$	262

Rent expense charged to operations for the years ended December 31, 2011, 2010 and 2009 amounted to approximately $215,000, $205,000 and $214,000 respectively. The term of the lease for the Philadelphia, Pennsylvania offices is currently through April 30, 2013.

- Definition

The entire disclosure for operating leases of a lessor. This may inlcude a general description of lessor's leasing arrangements for operating leases, including the basis on which contingent rental payments are determined, the existence and terms of renewal or purchase options and escalation clauses, restrictions imposed by lease arrangements, such as those concerning dividends, additional debt, and further leasing, rent holidays, rent concessions, or leasehold improvement incentives and unusual provisions or conditions.

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