On March 1, 2013, the Registrant entered into the Seventh Amendment to the Loan and Security Agreement (the "Loan Agreement") between the Registrant and Silicon Valley Bank ("SVB") which, among other things, (i) extends the maturity date of the credit facility from SVB to January 15, 2014; (ii) at the Registrant's request, reduces the line of credit to a maximum of $625,000; and (iii) reduces the burden of one of the financial covenants.

The foregoing summary is qualified in its entirety by reference to the Seventh Amendment to the Loan Agreement which is attached as Exhibit 10.1 hereto.

On March 7, 2013, the Registrant issued a press release, a copy of which is attached hereto as Exhibit 99.1 and is incorporated herein by reference, announcing its financial results for the period and year ended December 31, 2012.

On March 1, 2013, the Registrant sold 460,000 shares of its common stock to accredited investors (as defined under the Securities Act of 1933, as amended (the "Act")) at a price of $1.05 per share (the "Private Placement"), yielding gross proceeds of $483,000 and net proceeds of approximately $474,000.

The Private Placement was exempt from the registration requirements of the Act pursuant to Section 4(5) and Rule 506 of Regulation D promulgated under the Act. All of the foregoing shares will bear a legend restricting their transfer other than pursuant to registration or exemption from registration pursuant to the Act.

(d) Exhibits.

Exhibit No.   Description of Exhibit
10.1          Seventh Amendment to the Loan and Security Agreement
              between the Registrant and Silicon Valley Bank
99.1          Press Release dated March 7, 2013 announcing
              financial results for the period and year ended
              December 31, 2012

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