Note 9 – NOTES PAYABLE

Notes payable consist of the following:

	September 30,				December 31,
	2011		2010		2010

Note payable to Private Bank in monthly installments of $42,222, plus variable interest rate, currently at 2.761%, with a balloon payment of $5,066,667 due February 6, 2014. Collateralized by substantially all assets of the Company.	$	6,248,889	$	6,735,556	$ 6,628,889

Line of credit with Private Bank at variable interest rate, currently at 2.761%. The agreement has been extended with terms allowing borrowings up to $2.0 million, maturing on May 31, 2012. Collateralized by substantially all assets of the Company.		---		750,000	—

Line of credit with Morgan Stanley for borrowings up to $2.8 million at variable interest rate, currently at 2.94% due on demand. Collateralized by investments with a fair value of $1,212,873, and cash and CD's totaling $449,967 at September 30, 2011.		1,384,468		2,321,200	2,344,946

Notes payable to Ford Credit Corp. payable in monthly installments of $1,778.23 at 6.116%, secured by transportation equipment		72,753		---	---

Note payable to Fletcher Jones of Chicago, Ltd LLC in monthly installments of $1,768.57 at 6.653%, due May 24, 2017, secured by transportation equipment		100,017		---	—
Total notes payable		7,806,127		9,806,756	8,973,835
Less current maturities		1,923,436		3,608,978	2,851,610
Total long-term portion	$	5,882,691	$	6,197,778	$ 6,122,225

In accordance with the Private Bank agreements referenced above, the Company is subject to minimum fixed charged ratio and tangible net worth thresholds. At September 30, 2011, the Company was in compliance with these covenants.

Maturities of notes payables are as follows:

For the Period Ended September 30,

2012	$	1,923,436
2013		541,115
2014		5,272,275
2015		35,575
2016		19,546
Thereafter		14,180
Total	$	7,806,127