Item 2.03 Creation of a Direct Financial Obligation.
On June 15, 2009, we extended the maturity date of our $9 million line of credit
with First Community Bank from July 5, 2009 to December 15, 2009, pursuant to a
Change in Terms Agreement and related updated Business Loan Agreement, copies of
which will be filed as exhibits to our Form 10-Q for the quarter ending June 30,
2009. The remaining terms of the line of credit remain substantially identical
to the terms previously disclosed, including in our Form 8-K filed with the
Commission on July 7, 2008, the information included therein with respect to the
line of credit to the extent not updated by this filing is incorporated herein
by reference. As of the date hereof, we have outstanding under the line of
credit approximately $4 million in aggregate principal amount, and we paid a
loan origination fee in connection with the extension of approximately $17,000.
We currently have no immediate plans to borrow additional funds under the
extended line of credit. Investors are encouraged to read the full terms of the
definitive agreements when they become available, and are encouraged to review
in the interim the full terms of the Business Loan Agreement previously filed
with the Commission as an exhibit to our Form 10-Q for the quarter ended
June 30, 2008, the terms of which remain applicable in all material respects
except as otherwise provided herein.