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Capital Notes
12 Months Ended
Dec. 31, 2011
Capital Notes [Abstract]  
Capital Notes

Note 9 – Capital notes

Financial has issued capital notes in the amount $7,000 (the "Notes"). The Notes bear interest at the rate of 6% per year with interest payable quarterly in arrears. The first interest payment on the Notes was due on July 1, 2009 and interest payments are subsequently due on the 1st of October, January, April and July until the notes mature. No principal payments are due until the Notes mature on April 1, 2012. On the Maturity Date, the principal and all accrued but unpaid interest on the Notes will be due and payable.

Financial currently is conducting a private placement of unregistered debt securities (the "2012 Offering"). Financial will sell a maximum of $12,000,000 in principal of notes in the 2012 Offering (the "2012 Notes"). The 2012 Notes will not be and have not been registered under the Act and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. The 2012 Notes will bear interest at the rate of 6% per year with interest payable quarterly in arrears. The first interest payment will be due on July 1, 2012. The notes mature on April 1, 2017, but are subject to prepayment in whole or in part on or after April 1, 2013 at Financial's sole discretion on 30 days written notice to the holders. Unless prepaid, no principal payments are due until the debt matures on April 1, 2017 (the "Maturity Date"). Financial intends to use up to the first $7,000,000 in proceeds from the 2012 Offering to pay the 2009 Notes on maturity. As of March 20, 2012, Financial has accepted subscription agreements for the purchase of $7,820,000. Financial anticipates that it will close on these purchases on or before March 30, 2012. Financial anticipates that it will continue to sell the 2012 Notes until it has sold $12,000,000 in principal of 2012 Notes, Financial terminates the offering, or April 30, 2012, whichever occurs first.