2.3.0.11 Html 24 107 1 false 8 0 false 3 true false R1.htm 01 - Document - Document and Entity Information Sheet http://www.isecuretrac.com/role/DocumentAndEntityInformation Document and Entity Information false false R2.htm 02 - Statement - CONSOLIDATED BALANCE SHEETS Sheet http://www.isecuretrac.com/role/StatementOfFinancialPositionClassified CONSOLIDATED BALANCE SHEETS false false R3.htm 03 - Statement - CONSOLIDATED BALANCE SHEETS (Parentheticals) Sheet http://www.isecuretrac.com/role/Consolidatedbalancesheetsparentheticals CONSOLIDATED BALANCE SHEETS (Parentheticals) false false R4.htm 04 - Statement - CONSOLIDATED STATEMENTS OF OPERATIONS Sheet http://www.isecuretrac.com/role/StatementOfIncomeAlternative CONSOLIDATED STATEMENTS OF OPERATIONS false false R5.htm 05 - Statement - STATEMENT OF STOCKHOLDERS' EQUITY Sheet http://www.isecuretrac.com/role/StatementOfShareholdersEquityAndOtherComprehensiveIncome STATEMENT OF STOCKHOLDERS' EQUITY false false R6.htm 06 - Statement - CONSOLIDATED STATEMENTS OF CASH FLOWS Sheet http://www.isecuretrac.com/role/StatementOfCashFlowsIndirect CONSOLIDATED STATEMENTS OF CASH FLOWS false false R7.htm 07 - Disclosure - General Sheet http://www.isecuretrac.com/role/General General false false R8.htm 08 - Disclosure - Common Stock Options and Warrants Sheet http://www.isecuretrac.com/role/CommonStockOptionsAndWarrants Common Stock Options and Warrants false false R9.htm 09 - Disclosure - Leasehold Improvements and Equipment Sheet http://www.isecuretrac.com/role/LeaseholdImprovementsAndEquipment Leasehold Improvements and Equipment false false R10.htm 10 - Disclosure - Goodwill Sheet http://www.isecuretrac.com/role/Goodwill Goodwill false false R11.htm 11 - Disclosure - Credit Agreements Sheet http://www.isecuretrac.com/role/CreditAgreements Credit Agreements false false R12.htm 12 - Disclosure - Long-Term Debt Sheet http://www.isecuretrac.com/role/LongTermDebt Long-Term Debt false false R13.htm 13 - Disclosure - Series C 8% Cumulative, Compounding Exchangeable Preferred Stock Sheet http://www.isecuretrac.com/role/SeriesC8CumulativeCompoundingExchangeablePreferredStock Series C 8% Cumulative, Compounding Exchangeable Preferred Stock false false R14.htm 14 - Disclosure - Series D 8% Cumulative, Compounding Exchangeable Preferred Stock Sheet http://www.isecuretrac.com/role/SeriesD8CumulativeCompoundingExchangeablePreferredStock Series D 8% Cumulative, Compounding Exchangeable Preferred Stock false false R15.htm 15 - Disclosure - Subsequent Events. Sheet http://www.isecuretrac.com/role/SubsequentEvents Subsequent Events. false false R16.htm 16 - Disclosure - Recent Accounting Pronouncements Sheet http://www.isecuretrac.com/role/RecentAccountingPronouncements Recent Accounting Pronouncements false false R17.htm 17 - Disclosure - Fair Value of Financial Instruments Sheet http://www.isecuretrac.com/role/FairValueOfFinancialInstruments Fair Value of Financial Instruments false false All Reports Book All Reports Warning: The following embed command is incorrectly formatted. <div><div style="text-indent:0pt;display:block;margin-left:0pt;margin-right:0pt;text-align:justify;" >Note 6.  Long-Term Debt </div><div style="text-indent:0pt;display:block;margin-left:0pt;margin-right:0pt;text-align:justify;" >  </div><div style="text-indent:0pt;display:block;margin-left:0pt;margin-right:0pt;text-align:justify;" >The Company had the following long-term debt at June 30, 2011 and December 31, 2010: </div><div style="text-indent:0pt;display:block;" > </div><div style="text-align:left;" ><table cellspacing="0" cellpadding="0" width="100%" style="font-family:times new roman;font-size:10pt;" ><tr><td valign="bottom" width="70%" style="text-align:left;" >  </td><td valign="bottom" width="1%" >  </td><td valign="bottom" width="13%" colspan="2" nowrap="nowrap" ><div style="text-indent:0pt;display:block;margin-left:0pt;margin-right:0pt;text-align:center;" >June 30, 2011 </div> </td><td valign="bottom" width="1%" nowrap="nowrap" style="text-align:left;" >  </td><td valign="bottom" width="1%" >  </td><td valign="bottom" width="13%" colspan="2" nowrap="nowrap" style="text-align:center;text-indent:0pt;margin-left:0pt;margin-right:0pt;" ><div style="text-align:center;text-indent:0pt;display:block;margin-left:0pt;margin-right:0pt;" >December 31, 2010 </div> </td><td valign="bottom" width="1%" nowrap="nowrap" style="text-align:left;" >  </td> </tr><tr style="background-color:#ffffff;" ><td valign="bottom" width="70%" style="text-align:left;" >  </td><td valign="bottom" width="1%" >  </td><td valign="bottom" width="13%" colspan="2" >  </td><td valign="bottom" width="1%" nowrap="nowrap" style="text-align:left;" >  </td><td valign="bottom" width="1%" >  </td><td valign="bottom" width="13%" colspan="2" >  </td><td valign="bottom" width="1%" nowrap="nowrap" style="text-align:left;" >  </td> </tr><tr style="background-color:#ccffcc;" ><td valign="bottom" width="70%" style="text-align:left;" ><div style="text-indent:0pt;display:block;margin-left:0pt;margin-right:0pt;text-align:left;" >Crestpark LP, Inc </div> </td><td valign="bottom" width="1%" >  </td><td valign="bottom" width="13%" colspan="2" >  </td><td valign="bottom" width="1%" nowrap="nowrap" style="text-align:left;" >  </td><td valign="bottom" width="1%" >  </td><td valign="bottom" width="13%" colspan="2" >  </td><td valign="bottom" width="1%" nowrap="nowrap" style="text-align:left;" >  </td> </tr><tr style="background-color:#ffffff;" ><td valign="bottom" width="70%" style="text-align:left;" >  </td><td valign="bottom" width="1%" >  </td><td valign="bottom" width="13%" colspan="2" >  </td><td valign="bottom" width="1%" nowrap="nowrap" style="text-align:left;" >  </td><td valign="bottom" width="1%" >  </td><td valign="bottom" width="13%" colspan="2" >  </td><td valign="bottom" width="1%" nowrap="nowrap" style="text-align:left;" >  </td> </tr><tr style="background-color:#ccffcc;" ><td valign="bottom" width="70%" style="text-align:left;" ><div style="text-indent:0pt;display:block;margin-left:0pt;margin-right:0pt;text-align:left;" >One secured note payable maturing on January 1, 2015 </div> </td><td valign="bottom" width="1%" >  </td><td valign="bottom" width="13%" colspan="2" >  </td><td valign="bottom" width="1%" nowrap="nowrap" style="text-align:left;" >  </td><td valign="bottom" width="1%" >  </td><td valign="bottom" width="13%" colspan="2" >  </td><td valign="bottom" width="1%" nowrap="nowrap" style="text-align:left;" >  </td> </tr><tr style="background-color:#ffffff;" ><td valign="bottom" width="70%" style="text-align:left;" ><div style="text-indent:0pt;display:block;margin-left:9pt;margin-right:0pt;text-align:left;" >Fixed Tranche ~ with an interest rate of 9.5% effective December 31, 2010 </div> </td><td valign="bottom" width="1%" style="text-align:right;" >  </td><td valign="bottom" width="1%" style="text-align:left;" >  </td><td valign="bottom" width="12%" style="text-align:right;" >2,000,000 </td><td valign="bottom" width="1%" nowrap="nowrap" style="text-align:left;" >  </td><td valign="bottom" width="1%" style="text-align:right;" >  </td><td valign="bottom" width="1%" style="text-align:left;" >$ </td><td valign="bottom" width="12%" style="text-align:right;" >9,891,086 </td><td valign="bottom" width="1%" nowrap="nowrap" style="text-align:left;" >  </td> </tr><tr style="background-color:#ccffcc;" ><td valign="bottom" width="70%" style="padding-bottom:2px;text-align:left;" ><div style="text-indent:0pt;display:block;margin-left:9pt;margin-right:0pt;text-align:left;" >Floating Tranche ~ with an interest rate of 2% over prime (5.25% at June 30, 2011) </div> </td><td valign="bottom" width="1%" style="padding-bottom:2px;text-align:right;" >  </td><td valign="bottom" width="1%" style="border-bottom:black 2px solid;text-align:left;" >  </td><td valign="bottom" width="12%" style="border-bottom:black 2px solid;text-align:right;" >- </td><td valign="bottom" width="1%" nowrap="nowrap" style="text-align:left;padding-bottom:2px;" >  </td><td valign="bottom" width="1%" style="padding-bottom:2px;text-align:right;" >  </td><td valign="bottom" width="1%" style="border-bottom:black 2px solid;text-align:left;" >  </td><td valign="bottom" width="12%" style="border-bottom:black 2px solid;text-align:right;" >5,000,000 </td><td valign="bottom" width="1%" nowrap="nowrap" style="text-align:left;padding-bottom:2px;" >  </td> </tr><tr style="background-color:#ffffff;" ><td valign="bottom" width="70%" style="text-align:left;" ><div style="text-indent:0pt;display:block;margin-left:18pt;margin-right:0pt;text-align:left;" >Crestpark LP, Inc Total </div> </td><td valign="bottom" width="1%" style="text-align:right;" >  </td><td valign="bottom" width="1%" style="text-align:left;" >$ </td><td valign="bottom" width="12%" style="text-align:right;" >2,000,000 </td><td valign="bottom" width="1%" nowrap="nowrap" style="text-align:left;" >  </td><td valign="bottom" width="1%" style="text-align:right;" >  </td><td valign="bottom" width="1%" style="text-align:left;" >$ </td><td valign="bottom" width="12%" style="text-align:right;" >14,891,086 </td><td valign="bottom" width="1%" nowrap="nowrap" style="text-align:left;" >  </td> </tr><tr style="background-color:#ccffcc;" ><td valign="bottom" width="70%" style="text-align:left;" ><div style="text-indent:0pt;display:block;margin-left:0pt;margin-right:0pt;text-align:left;" >AHK Leasing, LLC </div> </td><td valign="bottom" width="1%" >  </td><td valign="bottom" width="1%" style="text-align:left;" >  </td><td valign="bottom" width="12%" style="text-align:right;" >  </td><td valign="bottom" width="1%" nowrap="nowrap" style="text-align:left;" >  </td><td valign="bottom" width="1%" >  </td><td valign="bottom" width="1%" style="text-align:left;" >  </td><td valign="bottom" width="12%" style="text-align:right;" >  </td><td valign="bottom" width="1%" nowrap="nowrap" style="text-align:left;" >  </td> </tr><tr style="background-color:#ffffff;" ><td valign="bottom" width="70%" style="padding-bottom:2px;text-align:left;" ><div style="text-indent:0pt;display:block;margin-left:0pt;margin-right:0pt;text-align:left;" >Eleven separate capital leases with related parties that are carrying interest rates at 8.50% to 11.15% and maturing July 2011 to April 2014 </div> </td><td valign="bottom" width="1%" style="padding-bottom:2px;text-align:right;" >  </td><td valign="bottom" width="1%" style="border-bottom:black 2px solid;text-align:left;" >  </td><td valign="bottom" width="12%" style="border-bottom:black 2px solid;text-align:right;" >1,277,711 </td><td valign="bottom" width="1%" nowrap="nowrap" style="text-align:left;padding-bottom:2px;" >  </td><td valign="bottom" width="1%" style="padding-bottom:2px;text-align:right;" >  </td><td valign="bottom" width="1%" style="border-bottom:black 2px solid;text-align:left;" >  </td><td valign="bottom" width="12%" style="border-bottom:black 2px solid;text-align:right;" >1,560,389 </td><td valign="bottom" width="1%" nowrap="nowrap" style="text-align:left;padding-bottom:2px;" >  </td> </tr><tr style="background-color:#ccffcc;" ><td valign="bottom" width="70%" style="text-align:left;" ><div style="text-indent:0pt;display:block;margin-left:0pt;margin-right:0pt;text-align:left;" >Total long-term debt </div> </td><td valign="bottom" width="1%" style="text-align:right;" >  </td><td valign="bottom" width="1%" style="text-align:left;" >$ </td><td valign="bottom" width="12%" style="text-align:right;" >3,277,711 </td><td valign="bottom" width="1%" nowrap="nowrap" style="text-align:left;" >  </td><td valign="bottom" width="1%" style="text-align:right;" >  </td><td valign="bottom" width="1%" style="text-align:left;" >$ </td><td valign="bottom" width="12%" style="text-align:right;" >16,451,475 </td><td valign="bottom" width="1%" nowrap="nowrap" style="text-align:left;" >  </td> </tr><tr style="background-color:#ffffff;" ><td valign="bottom" width="70%" style="padding-bottom:2px;text-align:left;" ><div style="text-indent:0pt;display:block;margin-left:0pt;margin-right:0pt;text-align:left;" >Less current maturities </div> </td><td valign="bottom" width="1%" style="padding-bottom:2px;text-align:right;" >  </td><td valign="bottom" width="1%" style="border-bottom:black 2px solid;text-align:left;" >  </td><td valign="bottom" width="12%" style="border-bottom:black 2px solid;text-align:right;" >(824,271 </td><td valign="bottom" width="1%" nowrap="nowrap" style="text-align:left;padding-bottom:2px;" >) </td><td valign="bottom" width="1%" style="padding-bottom:2px;text-align:right;" >  </td><td valign="bottom" width="1%" style="border-bottom:black 2px solid;text-align:left;" >  </td><td valign="bottom" width="12%" style="border-bottom:black 2px solid;text-align:right;" >(1,185,254 </td><td valign="bottom" width="1%" nowrap="nowrap" style="text-align:left;padding-bottom:2px;" >) </td> </tr><tr style="background-color:#ccffcc;" ><td valign="bottom" width="70%" style="padding-bottom:2px;text-align:left;" ><div style="text-indent:0pt;display:block;margin-left:0pt;margin-right:0pt;text-align:left;" >Total long-term debt less current maturities </div> </td><td valign="bottom" width="1%" style="padding-bottom:2px;text-align:right;" >  </td><td valign="bottom" width="1%" style="border-bottom:black 2px solid;text-align:left;" >$ </td><td valign="bottom" width="12%" style="border-bottom:black 2px solid;text-align:right;" >2,453,441 </td><td valign="bottom" width="1%" nowrap="nowrap" style="text-align:left;padding-bottom:2px;" >  </td><td valign="bottom" width="1%" style="padding-bottom:2px;text-align:right;" >  </td><td valign="bottom" width="1%" style="border-bottom:black 2px solid;text-align:left;" >$ </td><td valign="bottom" width="12%" style="border-bottom:black 2px solid;text-align:right;" >15,266,221 </td><td valign="bottom" width="1%" nowrap="nowrap" style="text-align:left;padding-bottom:2px;" >  </td> </tr> </table> </div><div style="text-indent:0pt;display:block;" >  </div><div style="text-indent:0pt;display:block;margin-left:0pt;margin-right:0pt;text-align:justify;" >Crestpark LP, Inc. </div><div style="text-indent:0pt;display:block;margin-left:0pt;margin-right:0pt;text-align:justify;" >  </div><div style="text-indent:0pt;display:block;margin-left:0pt;margin-right:0pt;text-align:left;" >On June 30, 2011, the Company entered into a debt conversion agreement with Crestpark,  pursuant to which Crestpark converted $7,891,086 of  the Fixed Tranche and the outstanding balance of $5,000,000 of the Floating Tranche, along with $540,978 of related accrued interest into 1,221,097 shares of the Company's Series D 8% Cumulative, Compounding Exchangeable Preferred Stock (the "Series D Preferred Stock"). </div><div style="text-indent:0pt;display:block;margin-left:0pt;margin-right:0pt;text-align:justify;" >  </div><div style="text-indent:0pt;display:block;margin-left:0pt;margin-right:0pt;text-align:justify;" >As of June 30, 2011 and December 31, 2010, the Company has outstanding a Note Payable (“Note”) with Crestpark for $2,000,000 and $14,891,086, respectively, under a Credit and Security Agreement originally dated December 18, 2007 and subsequently amended.  Outstanding borrowings are due and payable on the earlier of (i) January 1, 2015 or (ii) the first date on which the Company either issues equity securities or arranges for additional indebtedness (other than trade indebtedness incurred in the ordinary course of business) in a transaction or series of transactions which generates aggregate net proceeds to the Company of not less than the then current principal amount outstanding under this Note, plus all accrued but unpaid interest.  The Company may prepay the Note at any time without premium or penalty. </div><div style="text-indent:0pt;display:block;margin-left:0pt;margin-right:0pt;text-align:justify;" >  </div><div style="text-indent:0pt;display:block;margin-left:0pt;margin-right:0pt;text-align:justify;" >The Note provides, among other things, that the Fixed Tranche of the borrowings thereunder shall bear interest at 9.5% per annum and that such interest will be due and payable at maturity of the Note.  Additionally, prior to the debt conversion agreement, the Floating Tranche under the Note bore  interest at a floating rate equal to 2% over the prime rate (the “Base Rate”), payable quarterly beginning March 31, 2011.  Accrued interest on the Note was $0 at June 30, 2011 and December 31, 2010. </div><div style="text-indent:0pt;display:block;margin-left:0pt;margin-right:0pt;text-align:justify;" >  </div><div style="text-indent:0pt;display:block;margin-left:0pt;margin-right:0pt;text-align:justify;" >The borrowings under the Note are secured by a first priority security interest in all of the assets of the Company except that Crestpark’s security interest in certain monitoring equipment is subordinate to the interest of AHK Leasing, LLC under its sale leaseback arrangements. </div><div style="text-indent:0pt;display:block;margin-left:0pt;margin-right:0pt;text-align:justify;" >  </div><div style="text-indent:0pt;display:block;margin-left:0pt;margin-right:0pt;text-align:justify;" >Crestpark is an affiliate of Mykonos.  As the sole holder of the Company’s Series C Preferred Stock, as amended, Mykonos shares with Crestpark the right to elect a majority of the Company’s Board of Directors.  The terms of the Loan Agreement were approved by a Special Committee of the Board of Directors consisting solely of disinterested directors. </div><div style="text-indent:0pt;display:block;margin-left:0pt;margin-right:0pt;text-align:justify;" >  </div><div><div style="text-indent:0pt;margin-left:0pt;margin-right:0pt;" ><div> </div> </div> </div><div style="text-indent:0pt;display:block;" > </div><div style="text-indent:0pt;display:block;margin-left:0pt;margin-right:0pt;text-align:left;" >Capital Leases - AHK Leasing, LLC. </div><div style="text-indent:0pt;display:block;margin-left:0pt;margin-right:0pt;text-align:justify;" >  </div><div style="text-indent:0pt;display:block;margin-left:0pt;margin-right:0pt;text-align:left;" >AHK Leasing, LLC (“AHK”) is a company controlled by three stockholders, one of which is a current director.  These loans were in the form of capital leases with 36 month terms and bearing interest at a rate of 8.50% to 11.15% per annum and mature between July 2011 and April 2014.   There was no accrued interest payable to AHK at June 30, 2011. </div><div style="text-indent:0pt;display:block;margin-left:0pt;margin-right:0pt;text-align:justify;" >  </div><div style="text-indent:0pt;display:block;margin-left:0pt;margin-right:0pt;text-align:justify;" >Total interest expense, including unused commitment fees, for the three and six months ended June 30, 2011 and June 30, 2010 is as follows: </div><div style="text-indent:0pt;display:block;margin-left:0pt;margin-right:0pt;text-align:justify;" >  </div><div style="text-align:left;" ><table cellspacing="0" cellpadding="0" width="100%" style="font-family:times new roman;font-size:10pt;" ><tr><td valign="bottom" style="text-align:left;" >  </td><td valign="bottom" >  </td><td valign="bottom" colspan="2" ><div style="text-indent:0pt;display:block;margin-left:0pt;margin-right:0pt;text-align:center;" >Three Months </div> </td><td valign="bottom" nowrap="nowrap" style="text-align:left;" >  </td><td valign="bottom" >  </td><td valign="bottom" colspan="2" ><div style="text-indent:0pt;display:block;margin-left:0pt;margin-right:0pt;text-align:center;" >Three Months </div> </td><td valign="bottom" nowrap="nowrap" style="text-align:left;" >  </td><td valign="bottom" >  </td><td valign="bottom" colspan="2" ><div style="text-indent:0pt;display:block;margin-left:0pt;margin-right:0pt;text-align:center;" >Six Months </div> </td><td valign="bottom" nowrap="nowrap" style="text-align:left;" >  </td><td valign="bottom" >  </td><td valign="bottom" colspan="2" ><div style="text-indent:0pt;display:block;margin-left:0pt;margin-right:0pt;text-align:center;" >Six Months </div> </td><td valign="bottom" nowrap="nowrap" style="text-align:left;" >  </td> </tr><tr><td valign="bottom" >  </td><td valign="bottom" >  </td><td valign="bottom" colspan="2" ><div style="text-indent:0pt;display:block;margin-left:0pt;margin-right:0pt;text-align:center;" >Ended </div> </td><td valign="bottom" nowrap="nowrap" style="text-align:left;" >  </td><td valign="bottom" >  </td><td valign="bottom" colspan="2" ><div style="text-indent:0pt;display:block;margin-left:0pt;margin-right:0pt;text-align:center;" >Ended </div> </td><td valign="bottom" nowrap="nowrap" style="text-align:left;" >  </td><td valign="bottom" >  </td><td valign="bottom" colspan="2" ><div style="text-indent:0pt;display:block;margin-left:0pt;margin-right:0pt;text-align:center;" >Ended </div> </td><td valign="bottom" nowrap="nowrap" style="text-align:left;" >  </td><td valign="bottom" >  </td><td valign="bottom" colspan="2" ><div style="text-indent:0pt;display:block;margin-left:0pt;margin-right:0pt;text-align:center;" >Ended </div> </td><td valign="bottom" nowrap="nowrap" style="text-align:left;" >  </td> </tr><tr><td valign="bottom" style="padding-bottom:2px;" >  </td><td valign="bottom" style="padding-bottom:2px;" >  </td><td valign="bottom" colspan="2" style="border-bottom:black 2px solid;" ><div style="text-indent:0pt;display:block;margin-left:0pt;margin-right:0pt;text-align:center;" >June 30, 2011 </div> </td><td valign="bottom" nowrap="nowrap" style="text-align:left;padding-bottom:2px;" >  </td><td valign="bottom" style="padding-bottom:2px;" >  </td><td valign="bottom" colspan="2" style="border-bottom:black 2px solid;" ><div style="text-indent:0pt;display:block;margin-left:0pt;margin-right:0pt;text-align:center;" >June 30, 2010 </div> </td><td valign="bottom" nowrap="nowrap" style="text-align:left;padding-bottom:2px;" >  </td><td valign="bottom" style="padding-bottom:2px;" >  </td><td valign="bottom" colspan="2" style="border-bottom:black 2px solid;" ><div style="text-indent:0pt;display:block;margin-left:0pt;margin-right:0pt;text-align:center;" >June 30, 2011 </div> </td><td valign="bottom" nowrap="nowrap" style="text-align:left;padding-bottom:2px;" >  </td><td valign="bottom" style="padding-bottom:2px;" >  </td><td valign="bottom" colspan="2" style="border-bottom:black 2px solid;" ><div style="text-indent:0pt;display:block;margin-left:0pt;margin-right:0pt;text-align:center;" >June 30, 2010 </div> </td><td valign="bottom" nowrap="nowrap" style="text-align:left;padding-bottom:2px;" >  </td> </tr><tr style="background-color:#ccffcc;" ><td valign="bottom" width="52%" style="text-align:left;" ><div style="text-indent:0pt;display:block;margin-left:0pt;margin-right:0pt;text-align:left;" >AHK interest on long term debt </div> </td><td valign="bottom" width="1%" style="text-align:right;" >  </td><td valign="bottom" width="1%" style="text-align:left;" >$ </td><td valign="bottom" width="9%" style="text-align:right;" >36,636 </td><td valign="bottom" width="1%" nowrap="nowrap" style="text-align:left;" >  </td><td valign="bottom" width="1%" style="text-align:right;" >  </td><td valign="bottom" width="1%" style="text-align:left;" >$ </td><td valign="bottom" width="9%" style="text-align:right;" >65,196 </td><td valign="bottom" width="1%" nowrap="nowrap" style="text-align:left;" >  </td><td valign="bottom" width="1%" style="text-align:right;" >  </td><td valign="bottom" width="1%" style="text-align:left;" >$ </td><td valign="bottom" width="9%" style="text-align:right;" >76,776 </td><td valign="bottom" width="1%" nowrap="nowrap" style="text-align:left;" >  </td><td valign="bottom" width="1%" style="text-align:right;" >  </td><td valign="bottom" width="1%" style="text-align:left;" >$ </td><td valign="bottom" width="9%" style="text-align:right;" >142,414 </td><td valign="bottom" width="1%" nowrap="nowrap" style="text-align:left;" >  </td> </tr><tr style="background-color:#ffffff;" ><td valign="bottom" width="52%" >  </td><td valign="bottom" width="1%" >  </td><td valign="bottom" width="1%" style="text-align:left;" >  </td><td valign="bottom" width="9%" style="text-align:right;" >  </td><td valign="bottom" width="1%" nowrap="nowrap" style="text-align:left;" >  </td><td valign="bottom" width="1%" >  </td><td valign="bottom" width="1%" style="text-align:left;" >  </td><td valign="bottom" width="9%" style="text-align:right;" >  </td><td valign="bottom" width="1%" nowrap="nowrap" style="text-align:left;" >  </td><td valign="bottom" width="1%" >  </td><td valign="bottom" width="1%" style="text-align:left;" >  </td><td valign="bottom" width="9%" style="text-align:right;" >  </td><td valign="bottom" width="1%" nowrap="nowrap" style="text-align:left;" >  </td><td valign="bottom" width="1%" >  </td><td valign="bottom" width="1%" style="text-align:left;" >  </td><td valign="bottom" width="9%" style="text-align:right;" >  </td><td valign="bottom" width="1%" nowrap="nowrap" style="text-align:left;" >  </td> </tr><tr style="background-color:#ccffcc;" ><td valign="bottom" width="52%" style="text-align:left;" ><div style="text-indent:0pt;display:block;margin-left:0pt;margin-right:0pt;text-align:left;" >Crestpark LP interest on long-term debt </div> </td><td valign="bottom" width="1%" style="text-align:right;" >  </td><td valign="bottom" width="1%" style="text-align:left;" >  </td><td valign="bottom" width="9%" style="text-align:right;" >314,292 </td><td valign="bottom" width="1%" nowrap="nowrap" style="text-align:left;" >  </td><td valign="bottom" width="1%" style="text-align:right;" >  </td><td valign="bottom" width="1%" style="text-align:left;" >  </td><td valign="bottom" width="9%" style="text-align:right;" >218,814 </td><td valign="bottom" width="1%" nowrap="nowrap" style="text-align:left;" >  </td><td valign="bottom" width="1%" style="text-align:right;" >  </td><td valign="bottom" width="1%" style="text-align:left;" >  </td><td valign="bottom" width="9%" style="text-align:right;" >606,013 </td><td valign="bottom" width="1%" nowrap="nowrap" style="text-align:left;" >  </td><td valign="bottom" width="1%" style="text-align:right;" >  </td><td valign="bottom" width="1%" style="text-align:left;" >  </td><td valign="bottom" width="9%" style="text-align:right;" >435,224 </td><td valign="bottom" width="1%" nowrap="nowrap" style="text-align:left;" >  </td> </tr><tr style="background-color:#ffffff;" ><td valign="bottom" width="52%" >  </td><td valign="bottom" width="1%" >  </td><td valign="bottom" width="1%" style="text-align:left;" >  </td><td valign="bottom" width="9%" style="text-align:right;" >  </td><td valign="bottom" width="1%" nowrap="nowrap" style="text-align:left;" >  </td><td valign="bottom" width="1%" >  </td><td valign="bottom" width="1%" style="text-align:left;" >  </td><td valign="bottom" width="9%" style="text-align:right;" >  </td><td valign="bottom" width="1%" nowrap="nowrap" style="text-align:left;" >  </td><td valign="bottom" width="1%" >  </td><td valign="bottom" width="1%" style="text-align:left;" >  </td><td valign="bottom" width="9%" style="text-align:right;" >  </td><td valign="bottom" width="1%" nowrap="nowrap" style="text-align:left;" >  </td><td valign="bottom" width="1%" >  </td><td valign="bottom" width="1%" style="text-align:left;" >  </td><td valign="bottom" width="9%" style="text-align:right;" >  </td><td valign="bottom" width="1%" nowrap="nowrap" style="text-align:left;" >  </td> </tr><tr style="background-color:#ccffcc;" ><td valign="bottom" width="52%" style="text-align:left;" ><div style="text-indent:0pt;display:block;margin-left:0pt;margin-right:0pt;text-align:left;" >Crestpark LP credit agreements </div> </td><td valign="bottom" width="1%" style="text-align:right;" >  </td><td valign="bottom" width="1%" style="text-align:left;" >  </td><td valign="bottom" width="9%" style="text-align:right;" >34,984 </td><td valign="bottom" width="1%" nowrap="nowrap" style="text-align:left;" >  </td><td valign="bottom" width="1%" style="text-align:right;" >  </td><td valign="bottom" width="1%" style="text-align:left;" >  </td><td valign="bottom" width="9%" style="text-align:right;" >39,025 </td><td valign="bottom" width="1%" nowrap="nowrap" style="text-align:left;" >  </td><td valign="bottom" width="1%" style="text-align:right;" >  </td><td valign="bottom" width="1%" style="text-align:left;" >  </td><td valign="bottom" width="9%" style="text-align:right;" >60,898 </td><td valign="bottom" width="1%" nowrap="nowrap" style="text-align:left;" >  </td><td valign="bottom" width="1%" style="text-align:right;" >  </td><td valign="bottom" width="1%" style="text-align:left;" >  </td><td valign="bottom" width="9%" style="text-align:right;" >64,907 </td><td valign="bottom" width="1%" nowrap="nowrap" style="text-align:left;" >  </td> </tr><tr style="background-color:#ffffff;" ><td valign="bottom" width="52%" >  </td><td valign="bottom" width="1%" >  </td><td valign="bottom" width="1%" style="text-align:left;" >  </td><td valign="bottom" width="9%" style="text-align:right;" >  </td><td valign="bottom" width="1%" nowrap="nowrap" style="text-align:left;" >  </td><td valign="bottom" width="1%" >  </td><td valign="bottom" width="1%" style="text-align:left;" >  </td><td valign="bottom" width="9%" style="text-align:right;" >  </td><td valign="bottom" width="1%" nowrap="nowrap" style="text-align:left;" >  </td><td valign="bottom" width="1%" >  </td><td valign="bottom" width="1%" style="text-align:left;" >  </td><td valign="bottom" width="9%" style="text-align:right;" >  </td><td valign="bottom" width="1%" nowrap="nowrap" style="text-align:left;" >  </td><td valign="bottom" width="1%" >  </td><td valign="bottom" width="1%" style="text-align:left;" >  </td><td valign="bottom" width="9%" style="text-align:right;" >  </td><td valign="bottom" width="1%" nowrap="nowrap" style="text-align:left;" >  </td> </tr><tr style="background-color:#ccffcc;" ><td valign="bottom" width="52%" style="padding-bottom:2px;text-align:left;" ><div style="text-indent:0pt;display:block;margin-left:0pt;margin-right:0pt;text-align:left;" >Other </div> </td><td valign="bottom" width="1%" style="padding-bottom:2px;text-align:right;" >  </td><td valign="bottom" width="1%" style="border-bottom:black 2px solid;text-align:left;" >  </td><td valign="bottom" width="9%" style="border-bottom:black 2px solid;text-align:right;" >524 </td><td valign="bottom" width="1%" nowrap="nowrap" style="text-align:left;padding-bottom:2px;" >  </td><td valign="bottom" width="1%" style="padding-bottom:2px;text-align:right;" >  </td><td valign="bottom" width="1%" style="border-bottom:black 2px solid;text-align:left;" >  </td><td valign="bottom" width="9%" style="border-bottom:black 2px solid;text-align:right;" >4,980 </td><td valign="bottom" width="1%" nowrap="nowrap" style="text-align:left;padding-bottom:2px;" >  </td><td valign="bottom" width="1%" style="padding-bottom:2px;text-align:right;" >  </td><td valign="bottom" width="1%" style="border-bottom:black 2px solid;text-align:left;" >  </td><td valign="bottom" width="9%" style="border-bottom:black 2px solid;text-align:right;" >2,241 </td><td valign="bottom" width="1%" nowrap="nowrap" style="text-align:left;padding-bottom:2px;" >  </td><td valign="bottom" width="1%" style="padding-bottom:2px;text-align:right;" >  </td><td valign="bottom" width="1%" style="border-bottom:black 2px solid;text-align:left;" >  </td><td valign="bottom" width="9%" style="border-bottom:black 2px solid;text-align:right;" >9,841 </td><td valign="bottom" width="1%" nowrap="nowrap" style="text-align:left;padding-bottom:2px;" >  </td> </tr><tr style="background-color:#ffffff;" ><td valign="bottom" width="52%" style="padding-bottom:2px;text-align:left;" ><div style="text-indent:0pt;display:block;margin-left:9pt;margin-right:0pt;text-align:left;" >Total interest expense </div> </td><td valign="bottom" width="1%" style="padding-bottom:2px;text-align:right;" >  </td><td valign="bottom" width="1%" style="border-bottom:black 2px solid;text-align:left;" >$ </td><td valign="bottom" width="9%" style="border-bottom:black 2px solid;text-align:right;" >386,435 </td><td valign="bottom" width="1%" nowrap="nowrap" style="text-align:left;padding-bottom:2px;" >  </td><td valign="bottom" width="1%" style="padding-bottom:2px;text-align:right;" >  </td><td valign="bottom" width="1%" style="border-bottom:black 2px solid;text-align:left;" >$ </td><td valign="bottom" width="9%" style="border-bottom:black 2px solid;text-align:right;" >328,015 </td><td valign="bottom" width="1%" nowrap="nowrap" style="text-align:left;padding-bottom:2px;" >  </td><td valign="bottom" width="1%" style="padding-bottom:2px;text-align:right;" >  </td><td valign="bottom" width="1%" style="border-bottom:black 2px solid;text-align:left;" >$ </td><td valign="bottom" width="9%" style="border-bottom:black 2px solid;text-align:right;" >745,927 </td><td valign="bottom" width="1%" nowrap="nowrap" style="text-align:left;padding-bottom:2px;" >  </td><td valign="bottom" width="1%" style="padding-bottom:2px;text-align:right;" >  </td><td valign="bottom" width="1%" style="border-bottom:black 2px solid;text-align:left;" >$ </td><td valign="bottom" width="9%" style="border-bottom:black 2px solid;text-align:right;" >652,387 </td><td valign="bottom" width="1%" nowrap="nowrap" style="text-align:left;padding-bottom:2px;" >  </td> </tr> </table> </div> </div> Process Flow-Through: 02 - Statement - CONSOLIDATED BALANCE SHEETS Process Flow-Through: Removing column 'Jun. 30, 2010' Process Flow-Through: Removing column 'Dec. 31, 2009' Process Flow-Through: 03 - Statement - CONSOLIDATED BALANCE SHEETS (Parentheticals) Process Flow-Through: 04 - Statement - CONSOLIDATED STATEMENTS OF OPERATIONS Process Flow-Through: 06 - Statement - CONSOLIDATED STATEMENTS OF CASH FLOWS isec-20110630.xml isec-20110630.xsd isec-20110630_cal.xml isec-20110630_def.xml isec-20110630_lab.xml isec-20110630_pre.xml true true