| Advances and Other Assets |
Note 2 - Advances and Other Assets
Advances and other assets consists of the following:
| |
|
December 31, |
|
| |
|
2012 |
|
|
2011 |
|
| |
|
|
|
|
|
|
| Signing bonuses to independent sales agents, amortized on a straight-line basis over the life of the underlyingcontracts from three to ten years |
|
$ |
2,320,000 |
|
|
$ |
1,914,000 |
|
| |
|
|
|
|
|
|
|
|
| Non-interest bearing advances to independent salesagents repayable at the end of the underlying contracts at various dates through 2018 |
|
|
400,000 |
|
|
|
425,000 |
|
| |
|
|
|
|
|
|
|
|
| Loans to independent sales agents bearing interest at prime and prime plus 1%, repayable at various dates through 2021. |
|
|
2,482,000 |
|
|
|
2,031,000 |
|
| |
|
|
|
|
|
|
|
|
| Sales-type leases with original terms of 48 months, through 2016, net of unearned income of $374,000 at December 31, 2012. |
|
|
2,191,000 |
|
|
|
672,000 |
|
| |
|
|
|
|
|
|
|
|
| Due from independent sales agents and employees consisting of non-interest bearing loans, agent chargebacks, and advanced commissions expected to be earned / repaid through 2021 |
|
|
2,393,000 |
|
|
|
1,298,000 |
|
| |
|
|
|
|
|
|
|
|
| |
|
|
9,786,000 |
|
|
|
6,340,000 |
|
| Less: allowance for uncollectible loans and advances |
|
|
(350,000 |
) |
|
|
(200,000 |
) |
| |
|
|
|
|
|
|
|
|
| |
|
|
9,436,000 |
|
|
|
6,140,000 |
|
| Less: current portion |
|
|
(3,666,000 |
) |
|
|
(1,589,000 |
) |
| |
|
|
|
|
|
|
|
|
| |
|
$ |
5,770,000 |
|
|
$ |
4,551,000 |
|
Advances and other assets are expected to be earned / repaid as follows:
| 2013 |
|
$ |
3,666,000 |
|
| 2014 |
|
|
1,279,000 |
|
| 2015 |
|
|
1,264,000 |
|
| 2016 |
|
|
922,000 |
|
| 2017 and beyond |
|
|
2,305,000 |
|
| |
|
$ |
9,436,000 |
|
|