Item 1.01 Entry into a Material Definitive Agreement

On May 25, 2009, the Company paid off its loan from Convergent Capital Partners I, L.P. in the amount of 1.4 million dollars. On May 26, 2009, the Company entered into a new loan agreement with Convergent Capital Partners, II, L.P. for five million dollars. The new loan carries an interest rate of fourteen percent and is monthly interest only until December 2012 when the principal is due and payable in full. Additional terms and conditions of the agreement are per the attached exhibit.