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EMPLOYEE BENEFIT PLAN
12 Months Ended
Dec. 31, 2011
Notes to Financial Statements  
EMPLOYEE BENEFIT PLAN

 

NOTE 12 – EMPLOYEE BENEFIT PLAN

 

In February 2006, the Company instituted a 401(k) profit sharing plan covering all eligible employees. Employees who participate may elect to make salary deferral contributions to the Plan up to 100% of the employees’ eligible payroll subject to annual Internal Revenue Code maximum limitations. The Company may make a discretionary contribution to the entire qualified employee pool, in accordance with the Plan. For the years ended December 31, 2011 and 2010 there were no contributions by the Company to the 401(k) plan.