17. SUBSEQUENT EVENTS
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12 Months Ended |
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Dec. 31, 2012
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Subsequent Events [Abstract] | |
NOTE Q - SUBSEQUENT EVENTS |
During 2012, the Company was awarded a contract with a bonding requirement. The Company satisfied the requirement in the first quarter of 2013 with an irrevocable standby letter of credit collateralized by cash in the amount of $382,000. The letter of credit expires September 30, 2013. |
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- Definition
The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. No definition available.
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