Annual report pursuant to Section 13 and 15(d)

Note Payable

v2.4.0.6
Note Payable
12 Months Ended
Dec. 31, 2011
Note Payable [Abstract]  
Note Payable

11.     Note Payable

In connection with the acquisition of B-Ready (Note 3), the Company assumed a note payable in the amount of $300 that bears simple interest of 8% per annum. A principal payment of $150 plus interest was paid on April 30, 2011, and an additional principal payment of $150 plus interest is due on April 30, 2012. The principal and interest payments may be reduced by a formula as defined in the purchase agreement if the revenue attributable to the B-Ready assets does not meet certain revenue targets as defined in the purchase agreement.