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Commitments

12 Months Ended

Dec. 31, 2011

Commitments and Contingencies Disclosure [Abstract]

(9) Commitments

The Company has an employment agreement with one of its officers which provides for an annual base salary of $425,000 and with another officer which provides for an annual base salary of $300,000, both for calendar year 2012.

The Company has a defined contribution profit sharing (401K) plan covering employees who have completed one year of service. Contributions are made at the discretion of the Company. The Company did not make any contributions to this plan for 2011, 2010 or 2009.

The Company occupies premises under an operating lease agreement which expires on January 31, 2014. At December 31, 2011, the approximate minimum annual future rental commitments under this lease for the next five years are as follows:

2012:	$	173,000
2013:	$	192,000
2014:	$	16,000
2015:	$	--
2016:	$	--

Rent expense, including other occupancy related expenses, amounted to approximately $172,000, $198,000, and $197,000 for 2011, 2010, and 2009, respectively.

- Definition

The entire disclosure for significant arrangements with third parties, which includes operating lease arrangements and arrangements in which the entity has agreed to expend funds to procure goods or services, or has agreed to commit resources to supply goods or services, and operating lease arrangements. Descriptions may include identification of the specific goods and services, period of time covered, minimum quantities and amounts, and cancellation rights.

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