(6)

DEBT

Debt consists of the following:

	December 31,
	2012			2013
Revolving credit agreement with a bank not to exceed $7.0 million, at either, or a combination of the lender’s Base Rate (3.25% at December 31, 2012) or a LIBOR rate plus 2.0%,(2.21% at December 31, 2012), collateralized by the Company's accounts receivable and Management Agreements, due in May 2014 (the "Credit Facility").		4,674,042			-

$2.0 million Term Loan with a bank borrowed at an interest rate of LIBOR plus a LIBOR rate margin of 2.0%. with principal to be repaid in 20 equal quarterly payments of approximately $100,000 plus interest beginning September 30, 2012 collateralized by the Company's accounts receivable and Management Agreeements.		1,800,000			-

Revolving credit agreement with a bank not to exceed $12.0 million, at either, or a combination of, the lender’s Prime Rate (3.25% at December 31, 2013) or a LIBOR rate plus 1.15% (1.32% at December 31, 2013), collateralized by substantially all of the assets of the Company, due in September 2016 (the "Credit Facility").		-			8,091,790


		6,474,042			8,091,790
Less - current maturities		(400,000	)		-

Long-term debt, net of current maturities	$	6,074,042		$	8,091,790

Credit Facility

On September 13, 2013, the Company entered into a Credit Agreement (the “Credit Facility”) with Compass Bank. The Credit Facility allows the Company to borrow, on a revolving basis, an aggregate principal amount not to exceed $12.0 million. Interest is computed at either the lender’s prime rate or at LIBOR rate plus 1.15% in effect from time to time at the Company’s option. As of December 31, 2013, the Company’s LIBOR borrowing rate was 1.32% and the prime rate borrowing rate was 3.25%. A commitment fee on the average daily unused amount of the revolving loan commitment is also assessed at a rate of 0.25% per annum, and is payable quarterly in arrears. At December 31, 2013, the Company had approximately $8.1 million LIBOR rate borrowings outstanding and approximately $3.9 million available for borrowing under the Credit Facility. The loan matures on September 13, 2016. The Credit Facility is collateralized by substantially all of the assets of the Company. The Credit Facility requires the Company to comply with certain affirmative and negative covenants, including maintaining (i) a debt-to-EBITDA ratio of no more than 2.00 to 1.00, 2.15 to 1.00, 2.05 to 1.00 and 2.00 to 1.00 for the years ending December 31, 2013, 2014, 2015 and 2016, respectively, and (ii) a fixed charge coverage ratio of no less than 1.25 to 1.00.

On September 13, 2013, the Company terminated its credit facility with KeyBank National Association. The Company repaid the outstanding $4.6 million principal amount plus accrued interest under the prior Credit Agreement with borrowings under the new Credit Facility.

Term Loan

On September 13, 2013, the Company terminated its term loan with KeyBank National Association. The Company repaid the outstanding $3.6 million principal amount plus accrued interest under the term loan with borrowings under the new Credit Facility.

Scheduled Maturities

The scheduled maturities of debt are as follows:

Years	Amount

2014	$	-
2015		-
2016		8,091,790

	$	8,091,790