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The Balance Sheet at December 31, 2011, is excerpted from the consolidated audited financial statements as of that date but does not include certain information and footnotes required by accounting principles generally accepted in the United States for complete financial statements.
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SPAR GROUP INC
10-Q
--12-31
20130918
false
0001004989
Yes
No
Smaller Reporting Company
No
2012
Q1
2012-03-31
<div>
<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">1.        
Basis of Presentation</font>
</div><br/><div style="TEXT-ALIGN: justify; TEXT-INDENT: 27pt">
<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The
accompanying unaudited, consolidated financial statements of
SPAR Group, Inc., a Delaware corporation ("SGRP"), and its
subsidiaries (together with SGRP, collectively, the "Company"
or the "SPAR Group") have been prepared in accordance with
accounting principles generally accepted in the United States
for interim financial information and with the instructions
to Form 10-Q and Article 10 of Regulation S-X. Accordingly,
they do not include all of the information and footnotes
required by accounting principles generally accepted in the
United States for complete financial statements. In the
opinion of management, all adjustments considered necessary
for a fair presentation have been included in these interim
financial statements. However, these interim financial
statements should be read in conjunction with the annual
consolidated financial statements and notes thereto for the
Company as contained in the Company's Annual Report for 2011
on Form 10-K for the year ended December 31, 2011, as filed
with the Securities and Exchange Commission (the "SEC") on
March 21, 2012 (the Company's “Annual Report"). The
Company's results of operations for the interim periods are
not necessarily indicative of its operating results for the
entire year.</font>
</div><br/>
<div>
<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2.         Business
and Organization</font>
</div><br/><div style="TEXT-ALIGN: justify; TEXT-INDENT: 27pt">
<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The
SPAR Group is a supplier of merchandising and other marketing
services throughout the United States and internationally.
The Company also provides in-store event staffing, product
sampling, furniture and other product assembly services,
Radio Frequency Identification (“RFID”) services,
technology services and marketing research
services.  Assembly services are performed in
stores, homes and offices while those other services are
primarily performed in mass merchandisers, office supply,
grocery, drug , independent, convenience, electronics, toy
and specialty stores.</font></font>
</div><br/><div style="TEXT-ALIGN: justify; TEXT-INDENT: 27pt">
<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Merchandising
services primarily consist of regularly scheduled, special
project and other product services provided at the store
level, and the Company may be engaged by either the retailer
or the manufacturer.  Those services may include
restocking and adding new products, removing spoiled or
outdated products, resetting categories "on the shelf" in
accordance with client or store schematics, confirming and
replacing shelf tags, setting new sale or promotional product
displays and advertising, replenishing kiosks, providing
in-store event staffing and providing assembly services in
stores, homes and offices.  Other merchandising
services include whole store or departmental product sets or
resets, including new store openings, new product launches
and in-store demonstrations, special seasonal or promotional
merchandising, focused product support and product
recalls.  The Company also provides RFID services,
technology services and marketing research services.</font>
</div><br/><div style="TEXT-ALIGN: justify; TEXT-INDENT: 27pt">
<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">In
order to cultivate foreign markets and expand the Company's
merchandising and marketing services business outside of the
United States, modify the necessary systems and implement its
business model worldwide, and insure a consistent approach to
its merchandising and marketing efforts worldwide, and even
though it operates in a single business segment
(merchandising and marketing services), the Company has
divided its world focus into two geographic areas, the United
States, which is the sales territory for its Domestic
Merchandising Services Division, and international (i.e., all
locations outside the United States), which are the sales
territories for its International Merchandising Services
Division.  To that end, the Company also (1)
provides and requires all of its locations to use its
Internet-based operating, scheduling, tracking and reporting
systems (including language translations, ongoing client and
financial reports and ongoing IT support), (2) provides and
requires all of its locations to comply with the Company's
financial reporting and disclosure controls and procedures,
(3) provides accounting and auditing support and tracks and
reports certain financial and other information separately
for those two divisions, and (4) has management teams in its
corporate offices responsible for supporting and monitoring
the management, sales, marketing and operations of each of
the Company's international subsidiaries and maintaining
consistency with the Company's other subsidiaries
worldwide.</font>
</div><br/><div style="TEXT-ALIGN: justify; TEXT-INDENT: 27pt">
<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Today
the Company operates in 10 countries that encompass
approximately 47% of the total world population. Although it
operates in a single business segment (merchandising and
marketing services), the Company currently divides its
operations for marketing, administrative and other purposes
into two geographic divisions: its Domestic Merchandising
Services Division, which provides those services in the
United States of America since certain of its predecessors
were formed in 1979; and its International Merchandising
Services Division, which began operations in May of 2001 and
provides similar merchandising, marketing services and
in-store event staffing services in Japan, Canada, South
Africa, India, Romania, China, Australia, Mexico and Turkey.
The Company continues to focus on expanding its merchandising
and marketing services business throughout the world.</font>
</div><br/>
<div>
<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">3.         Earnings
Per Share</font>
</div><br/><div style="TEXT-ALIGN: justify; TEXT-INDENT: 27pt">
<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The
following table sets forth the computations of basic and
diluted earnings per share (in thousands, except per share
data):</font>
</div><br/><table cellpadding="0" cellspacing="0" width="85%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
<td align="left" valign="bottom" width="70%" style="PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: center; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td colspan="6" valign="bottom" width="28%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">Three
Months Ended</font> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">March
31,</font></font>
</div>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: center; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
</tr>
<tr>
<td valign="bottom" width="70%" style="TEXT-ALIGN: center; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: center; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td colspan="2" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">2012</font>
</div>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: center; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: center; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td colspan="2" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">2011</font>
</div>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
</tr>
<tr style="background-color: #C0FFFF;">
<td align="left" valign="bottom" width="70%">
<div>
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">Numerator:</font>
</div>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td align="left" colspan="2" valign="bottom" width="13%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td align="left" colspan="2" valign="bottom" width="13%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
</tr>
<tr>
<td align="left" valign="bottom" width="70%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td align="left" colspan="2" valign="bottom" width="13%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td align="left" colspan="2" valign="bottom" width="13%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
</tr>
<tr style="background-color: #C0FFFF;">
<td align="left" valign="bottom" width="70%" style="PADDING-BOTTOM: 4px">
<div>
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">Net
income</font>
</div>
</td>
<td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">$</font>
</td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"><font id="TAB1-5" style="MARGIN-LEFT: 9.9pt"></font>307</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">$</font>
</td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"><font id="TAB1-6" style="MARGIN-LEFT: 12.85pt"></font>253</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
</tr>
<tr>
<td align="left" valign="bottom" width="70%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
</tr>
<tr style="background-color: #C0FFFF;">
<td align="left" valign="bottom" width="70%">
<div>
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">Denominator:</font>
</div>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
</tr>
<tr>
<td align="left" valign="bottom" width="70%">
<div>
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-FAMILY: times new roman">Shares
used in basic net income</font> <font style="DISPLAY: inline; FONT-FAMILY: times new roman">per
share calculation</font></font>
</div>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">20,117</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">19,639</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
</tr>
<tr style="background-color: #C0FFFF;">
<td align="left" valign="bottom" width="70%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
</tr>
<tr>
<td align="left" valign="bottom" width="70%">
<div>
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">Effect
of diluted securities:</font>
</div>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
</tr>
<tr style="background-color: #C0FFFF;">
<td align="left" valign="bottom" width="70%" style="PADDING-BOTTOM: 2px">
<div>
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">Employee
stock options</font>
</div>
</td>
<td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">1,350</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">1,708</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
</tr>
<tr>
<td align="left" valign="bottom" width="70%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
</tr>
<tr style="background-color: #C0FFFF;">
<td align="left" valign="bottom" width="70%" style="PADDING-BOTTOM: 4px">
<div>
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">Shares
used in diluted net income per common share
calculation</font>
</div>
</td>
<td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">21,467</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">21,347</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
</tr>
<tr>
<td align="left" valign="bottom" width="70%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
</tr>
<tr style="background-color: #C0FFFF;">
<td align="left" valign="bottom" width="70%" style="PADDING-BOTTOM: 4px">
<div>
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-FAMILY: times new roman">Basic
net income</font> <font style="DISPLAY: inline; FONT-FAMILY: times new roman">per
common share</font></font>
</div>
</td>
<td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">$</font>
</td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"><font id="TAB1-7" style="MARGIN-LEFT: 9.9pt"></font>0.02</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">$</font>
</td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"><font id="TAB1-8" style="MARGIN-LEFT: 12.85pt"></font>0.01</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
</tr>
<tr>
<td align="left" valign="bottom" width="70%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
</tr>
<tr style="background-color: #C0FFFF;">
<td align="left" valign="bottom" width="70%" style="PADDING-BOTTOM: 4px">
<div>
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">Diluted
net income per common share</font>
</div>
</td>
<td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">$</font>
</td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"><font id="TAB1-9" style="MARGIN-LEFT: 9.9pt"></font>0.01</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">$</font>
</td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"><font id="TAB1-10" style="MARGIN-LEFT: 12.85pt"></font>0.01</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
</tr>
</table><br/>
<div>
<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">4.         Credit
Facilities</font>
</div><br/><div>
<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-DECORATION: underline">Domestic
Credit Facility (“Sterling Credit
Facility”):</font>
</div><br/><div style="TEXT-ALIGN: justify; TEXT-INDENT: 27pt">
<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">SGRP
and certain of its domestic subsidiaries, namely SPAR
Marketing Force, Inc., National Assembly Services, Inc., SPAR
Group International, Inc., SPAR Trademarks,
Inc.,  and SPAR Acquisition, Inc. (each a
"Subsidiary Borrower", and together with SGRP, collectively,
the " Borrowers "), entered into a Revolving Loan and
Security Agreement dated as of July 6, 2010 (the "Loan
Agreement"), with Sterling National Bank and Cornerstone Bank
as the lenders (the "Lenders"), and issued their Secured
Revolving Loan Notes in the original maximum principal
amounts of $5.0 million to Sterling National Bank and $1.5
million to Cornerstone Bank (the "Notes"), to document and
govern its new credit facility with them (the "Sterling
Credit Facility").  In June 2011, the Lenders
agreed to: (1) reduce the personal guarantee limits to the
amounts noted below, and (2) extend the maturity of the
Sterling Credit Facility until July 2013.</font>
</div><br/><div style="TEXT-ALIGN: justify; TEXT-INDENT: 27pt">
<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">In
addition, Mr. Robert G. Brown, a Director, the Chairman and a
major stockholder of SGRP, and Mr. William H. Bartels, a
Director, the Vice Chairman and a major stockholder of SGRP,
have provided personal guarantees of the Sterling Credit
Facility totaling $1,250,000 pursuant to their Limited
Continuing Guaranty in favor of the Lenders dated as of July
6, 2010, as amended in June 2011 (the "Limited
Guaranty").</font>
</div><br/><div style="TEXT-ALIGN: justify; TEXT-INDENT: 27pt">
<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Revolving
Loans of up to $6.5 million are available to the Borrowers
under the Sterling Credit Facility based upon the borrowing
base formula defined in the Loan Agreement (principally 85%
of "eligible" domestic accounts receivable less certain
reserves).  The Sterling Credit Facility is secured
by substantially all of the assets of the Borrowers (other
than SGRP's foreign subsidiaries, certain designated domestic
subsidiaries, and their respective equity and assets).</font>
</div><br/><div style="TEXT-ALIGN: justify; TEXT-INDENT: 27pt">
<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The
basic interest rate under the Sterling Credit Facility is
equal to the fluctuating Prime Rate of interest published in
the Wall Street Journal from time to time plus one and
one-half  (1.50%) percent per annum, which
automatically changes with each change in such rate.</font>
</div><br/><div style="TEXT-ALIGN: justify; TEXT-INDENT: 27pt">
<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Due to
the requirement to maintain a lock box arrangement with the
Agent and the Lenders' ability to invoke a subjective
acceleration clause at its discretion, borrowings under the
Sterling Credit Facility will be classified as
current.</font>
</div><br/><div style="TEXT-ALIGN: justify; TEXT-INDENT: 27pt">
<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The
Sterling Credit Facility contains certain financial and other
restrictive covenants and also limits certain expenditures by
the Borrowers, including, but not limited to, capital
expenditures and other investments.  At March 31,
2012, the Company was in compliance with such covenants and
does not expect to be in violation at future measurement
dates. However, there can be no assurances that the Company
will not be in violation of certain covenants in the future,
and should the Company be in violation, there can be no
assurances that the Lenders will issue waivers for any future
violations.</font>
</div><br/><div>
<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-DECORATION: underline">International
Credit Facilities:</font>
</div><br/><div style="TEXT-ALIGN: justify; TEXT-INDENT: 27pt">
<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">In
October 2011, the Australian subsidiary, SPARFACTS Australia
Pty. Ltd., entered into a credit facility with Oxford Funding
Pty. Ltd. for $1.2 million (Australian) or approximately $1.3
million (based upon the exchange rate at March 31,
2012).</font>
</div><br/><div style="TEXT-ALIGN: justify; TEXT-INDENT: 27pt">
<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">SPAR
Canada Company, a wholly owned subsidiary, has a secured
credit agreement with Royal Bank of Canada providing for a
Demand Operating Loan for a maximum borrowing of $750,000
(Canadian) or approximately $752,000 (based upon the exchange
rate at March 31, 2012). The Demand Operating Loan provides
for borrowing based upon a formula as defined in the
agreement (principally 75% of eligible accounts receivable
less certain deductions) and a minimum total debt to tangible
net worth covenant.  The Company was in compliance
with the minimum total debt to tangible net worth covenant
under this line of credit at March 31, 2012.</font>
</div><br/><div style="TEXT-ALIGN: justify; TEXT-INDENT: 27pt">
<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">On
March 7, 2011, the Japanese subsidiary, SPAR FM Japan, Inc.,
a wholly owned subsidiary, secured a term loan with Mizuho
Bank in the amount of 20 million Japanese Yen, or
approximately $244,000.  The loan is payable in
monthly installments of 238,000 Yen (or approximately $2,900
based upon the exchange rate at March 31, 2012) at an
interest rate of 0.1% per annum with a maturity date of
February 28, 2018.</font>
</div><br/><div>
<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Summary
of Company Credit and Other Debt Facilities: (in
thousands)</font>
</div><br/><table cellpadding="0" cellspacing="0" width="90%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
<td valign="bottom" width="40%" style="PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: center; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td colspan="2" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-FAMILY: times new roman">March
31,</font></font>
</div>
<div style="TEXT-ALIGN: center">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-FAMILY: times new roman">2012</font></font>
</div>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: center; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: center; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td colspan="2" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">Average</font>
</div>
<div style="TEXT-ALIGN: center">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-FAMILY: times new roman">Interest
Rate</font></font>
</div>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: center; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: center; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td colspan="2" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-FAMILY: times new roman">December
31,</font></font>
</div>
<div style="TEXT-ALIGN: center">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-FAMILY: times new roman">2011</font></font>
</div>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: center; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: center; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td colspan="2" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">Average</font>
</div>
<div style="TEXT-ALIGN: center">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-FAMILY: times new roman">Interest
Rate</font></font>
</div>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
</tr>
<tr style="background-color: #C0FFFF;">
<td align="left" valign="bottom" width="40%">
<div>
<font style="TEXT-DECORATION: underline"><font style="DISPLAY: inline; FONT-FAMILY: times new roman">Credit
Facilities</font> <font style="DISPLAY: inline; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-FAMILY: times new roman">Loan
Balance</font>:</font></font>
</div>
</td>
<td valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td colspan="2" valign="bottom" width="13%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td colspan="2" valign="bottom" width="13%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td colspan="2" valign="bottom" width="13%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td colspan="2" valign="bottom" width="13%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
</tr>
<tr>
<td align="left" valign="bottom" width="40%">
<div>
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">United
States</font>
</div>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">$</font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"><font id="TAB1-11" style="MARGIN-LEFT: 18pt"></font>678</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">4.75</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">%</font>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">$</font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">2,621</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">4.75</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">%</font>
</td>
</tr>
<tr style="background-color: #C0FFFF;">
<td align="left" valign="bottom" width="40%">
<div>
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">Australia</font>
</div>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">13</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">10.35</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">%</font>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">402</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">10.38</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">%</font>
</td>
</tr>
<tr>
<td align="left" valign="bottom" width="40%" style="PADDING-BOTTOM: 2px">
<div>
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">Canada</font>
</div>
</td>
<td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">281</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">4.00</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">%</font>
</td>
<td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">618</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">4.00</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">%</font>
</td>
</tr>
<tr style="background-color: #C0FFFF;">
<td valign="bottom" width="40%" style="PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">$</font>
</td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"><font id="TAB1-12" style="MARGIN-LEFT: 18pt"></font>972</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right; PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">$</font>
</td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">3,641</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right; PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
</tr>
<tr>
<td valign="bottom" width="40%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
</tr>
<tr style="background-color: #C0FFFF;">
<td align="left" valign="bottom" width="40%">
<div>
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; TEXT-DECORATION: underline"><font style="DISPLAY: inline; FONT-FAMILY: times new roman">Other
Debt Facility</font>:</font>
</div>
</td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
</tr>
<tr>
<td align="left" valign="bottom" width="40%" style="PADDING-BOTTOM: 4px">
<div>
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">Japan
Term Loan</font>
</div>
</td>
<td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">$</font>
</td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"><font id="TAB1-13" style="MARGIN-LEFT: 18pt"></font>206</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right; PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">0.1</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">%</font>
</td>
<td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">$</font>
</td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">227</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right; PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">0.1</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">%</font>
</td>
</tr>
<tr>
<td valign="bottom" width="40%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
</tr>
<tr>
<td valign="bottom" width="40%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
</tr>
<tr style="background-color: #C0FFFF;">
<td align="left" valign="bottom" width="40%">
<div>
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; TEXT-DECORATION: underline"><font style="DISPLAY: inline; FONT-FAMILY: times new roman">Unused
Availability</font>:</font>
</div>
</td>
<td valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
</tr>
<tr>
<td align="left" valign="bottom" width="40%">
<div>
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">United
States</font>
</div>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">$</font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"><font id="TAB1-14" style="MARGIN-LEFT: 18pt"></font>3,890</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">$</font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">2,671</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
</tr>
<tr style="background-color: #C0FFFF;">
<td align="left" valign="bottom" width="40%">
<div>
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">Australia</font>
</div>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">1,233</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">818</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
</tr>
<tr>
<td align="left" valign="bottom" width="40%" style="PADDING-BOTTOM: 2px">
<div>
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">Canada</font>
</div>
</td>
<td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">471</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">118</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
</tr>
<tr style="background-color: #C0FFFF;">
<td valign="bottom" width="40%" style="PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">$</font>
</td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"><font id="TAB1-15" style="MARGIN-LEFT: 18pt"></font>5,594</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right; PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">$</font>
</td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">3,607</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right; PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
</tr>
</table><br/><div style="TEXT-ALIGN: justify; TEXT-INDENT: 27pt">
<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The
Company’s international model is to join forces with
local investors experienced with merchandising services and
combine their knowledge of their local markets with the
Company’s proprietary software and expertise in the
merchandising and marketing business. In 2001, the Company
established its first international subsidiary and has
continued this strategy. As of this filing, the Company is
currently operating in Japan, Canada, South Africa, India,
Romania, China, Australia, Mexico and Turkey.</font>
</div><br/><div style="TEXT-ALIGN: justify; TEXT-INDENT: 27pt">
<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Management
believes that based upon the continuation of the Company's
existing credit facilities, projected results of operations,
vendor payment requirements and other financing available to
the Company (including amounts due to affiliates), sources of
cash availability should be manageable and sufficient to
support ongoing operations over the next twelve
months.  However, international losses, delays in
collection of receivables due from any of the Company's major
clients, or a significant reduction in business from such
clients could have a material adverse effect on the Company's
cash resources and its ongoing ability to fund
operations.</font>
</div><br/>
<div>
<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">5.        
Capital Lease Obligations</font>
</div><br/><div style="TEXT-ALIGN: justify">
<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman"><font size="3" style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The
Company has five outstanding capital lease
obligations.  The related capital lease assets
balances are detailed below (in thousands):</font></font>
</div><br/><table cellpadding="0" cellspacing="0" width="85%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
<td valign="bottom" width="55%" style="BORDER-BOTTOM: black 2px solid">
<div>
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">Start
Date:</font>
</div>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: center; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td colspan="2" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">Original
Cost</font>
</div>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: center; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: center; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td colspan="2" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">Accumulated</font>
</div>
<div style="TEXT-ALIGN: center">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">Depreciation</font>
</div>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: center; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: center; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td colspan="2" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">Net
Book Value</font>
</div>
<div style="TEXT-ALIGN: center">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">at
March 31, 2012</font>
</div>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
</tr>
<tr style="background-color: #C0FFFF;">
<td valign="bottom" width="55%">
<div>
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">July
2010</font>
</div>
</td>
<td align="right" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">$</font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">215</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td align="right" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">$</font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">120</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td align="right" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">$</font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">95</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
</tr>
<tr>
<td valign="bottom" width="55%">
<div>
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">November
2010</font>
</div>
</td>
<td align="right" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">48</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td align="right" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">23</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td align="right" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">25</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
</tr>
<tr style="background-color: #C0FFFF;">
<td valign="bottom" width="55%">
<div>
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">June
2011</font>
</div>
</td>
<td align="right" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">140</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td align="right" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">35</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td align="right" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">105</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
</tr>
<tr>
<td valign="bottom" width="55%">
<div>
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">January
1, 2012</font>
</div>
</td>
<td align="right" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">224</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td align="right" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">19</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td align="right" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">205</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
</tr>
<tr style="background-color: #C0FFFF;">
<td valign="bottom" width="55%" style="PADDING-BOTTOM: 2px">
<div>
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">January
1, 2012</font>
</div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">29</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">2</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">27</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
</tr>
<tr>
<td valign="bottom" width="55%" style="PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">$</font>
</td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">656</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">$</font>
</td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">199</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">$</font>
</td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">457</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
</tr>
</table><br/><div style="TEXT-ALIGN: justify">
<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Annual
future minimum lease payments required under the leases,
together with the present value as of March 31, 2012, are as
follows (in thousands):</font>
</div><br/><table cellpadding="0" cellspacing="0" width="80%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
<td valign="bottom" width="72%" style="BORDER-BOTTOM: black 2px solid">
<div>
<div style="TEXT-ALIGN: center">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">Year
Ending December 31,</font>
</div>
</div>
</td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td colspan="2" valign="bottom" width="26%" style="BORDER-BOTTOM: black 2px solid">
<div>
<div style="TEXT-ALIGN: center">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">Amount</font>
</div>
</div>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
</tr>
<tr>
<td valign="bottom" width="72%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td colspan="2" valign="bottom" width="26%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
</tr>
<tr style="background-color: #C0FFFF;">
<td valign="bottom" width="72%" style="TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">2012</font>
</div>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">$</font>
</td>
<td valign="bottom" width="25%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">183</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
</tr>
<tr>
<td valign="bottom" width="72%" style="TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">2013</font>
</div>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="25%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">201</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
</tr>
<tr style="background-color: #C0FFFF;">
<td valign="bottom" width="72%" style="TEXT-ALIGN: center; PADDING-BOTTOM: 2px">
<div style="TEXT-ALIGN: center">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">2014</font>
</div>
</td>
<td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="25%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">113</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
</tr>
<tr>
<td valign="bottom" width="72%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="25%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">497</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
</tr>
<tr style="background-color: #C0FFFF;">
<td align="left" valign="bottom" width="72%" style="PADDING-BOTTOM: 2px">
<div>
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">Less
amount representing interest</font>
</div>
</td>
<td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="25%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">40</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
</tr>
<tr>
<td align="left" valign="bottom" width="72%" style="PADDING-BOTTOM: 4px">
<div>
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">Present
value of net minimum lease payments included with
other liabilities</font>
</div>
</td>
<td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">$</font>
</td>
<td valign="bottom" width="25%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">457</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
</tr>
</table><br/>
<div>
<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">6.         Related-Party
Transactions</font>
</div><br/><div style="TEXT-ALIGN: justify; TEXT-INDENT: 27pt">
<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">SGRP's
policy respecting approval of transactions with related
persons, promoters and control persons is contained in the
SPAR Group Code of Ethical Conduct for its Directors, Senior
Executives and Employees Dated (as of) May 1, 2004 (the
"Ethics Code").  Article V of the Ethics Code
generally prohibits each "Covered Person" (including SGRP's
officers and directors) from engaging in any business
activity that conflicts with his or her duties to the
Company, and directs each "Covered Person" to avoid any
activity or interest that is inconsistent with the best
interests of the SPAR Group, in each case except for any
"Approved Activity" (as such terms are defined in the Ethics
Code).  Examples of violations include (among other
things) having any ownership interest in, acting as a
director or officer of or otherwise personally benefiting
from business with any customer or vendor of the Company
other than pursuant to any Approved
Activity.  Approved Activities include (among other
things) anything disclosed to and approved by the Board, the
Governance Committee or the Audit Committee, as the case may
be, as well as the ownership, board and executive positions
held by certain executive officers in SMS and SMSI (as
defined and described below).  The Company's senior
management is generally responsible for monitoring compliance
with the Ethics Code and establishing and maintaining
compliance systems, including conflicting relationships and
transactions, subject to the review and oversight of SGRP's
Governance Committee as provided in clause IV.11 of the
Governance Charter, and its Audit Committee as provided in
clause I.2(l) of the Audit Charter. The Governance Committee
and Audit Committee each consist solely of independent
outside directors.</font>
</div><br/><div style="TEXT-ALIGN: justify; TEXT-INDENT: 27pt">
<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">SGRP's
Audit Committee has the specific duty and responsibility to
review and approve the overall fairness of all material
related-party transactions.  The Audit Committee
receives every affiliate contract and amendment thereto for
its review and approval (to the extent approval is given),
and each contract is periodically (often annually) again
reviewed, in accordance with the Audit Charter, the Ethics
Code, the rules of the Nasdaq Stock Market, Inc. ("Nasdaq"),
and applicable law to ensure that the overall economic and
other terms will be (or continue to be) no less favorable to
the Company than would be the case in an arms length contract
with an unrelated provider of similar services (i.e., its
overall fairness).  The Audit Committee
periodically reviews and has approved all of the related
party relationships and transactions described below.</font>
</div><br/><div style="TEXT-ALIGN: justify; TEXT-INDENT: 27pt">
<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Mr.
Robert G. Brown, a Director, the Chairman and a major
stockholder of SGRP, and Mr. William H. Bartels, a Director
and the Vice Chairman of the Company and a major stockholder
of SGRP, are executive officers and the sole stockholders and
directors of SPAR Marketing Services, Inc.
(“SMS”), SPAR Management Services, Inc.
(“SMSI”), and SPAR InfoTech, Inc.
(“SIT”).</font>
</div><br/><div style="TEXT-ALIGN: justify; TEXT-INDENT: 27pt">
<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">SMS
and SMSI provided approximately 99% of the domestic
merchandising specialist field force used by the Company for
both the three months ended March 31, 2012 and 2011, and
approximately 93% and 94% of the domestic field management
used by the Company at a total cost of approximately $5.7
million and $5.5 million for the three months ended March 31,
2012 and 2011, respectively.  Pursuant to the terms
of the Amended and Restated Field Service Agreement dated as
of January 1, 2004, as amended (the "Field Services
Agreement"), in 2011, the Company received merchandising
services from SMS through the use of approximately 7,300
field merchandising specialists.  Pursuant to the
terms of the Amended and Restated Field Management Agreement
dated as of January 1, 2004, in 2011, the Company received
management services from SMSI through the use of 54 full-time
national, regional and district managers.  For
those services, the Company has agreed to reimburse SMS and
SMSI for their total costs of providing those services and to
pay SMS and SMSI each a premium equal to 4% of their
respective total costs (the "Plus
Compensation").  Those costs include all field
expenses of SMS, all payroll and employment tax expenses of
SMSI and all legal and other administrative expenses paid by
either of them.   The total Plus Compensation
earned by SMS and SMSI for services rendered was
approximately $213,000 and $212,000 for the three months
ended March 31, 2012 and 2011, respectively.  The
Company also provides certain administrative services
directly to SMS and SMSI, without charge, for accounting,
human resource and legal services, which the Company believes
is more efficient if paid directly, and would otherwise have
been subject to cost plus reimbursement.  The value
of these services was approximately $104,000 and $90,000 for
the three months ended March 31, 2012 and 2011,
respectively.</font>
</div><br/><div style="TEXT-ALIGN: justify; TEXT-INDENT: 27pt">
<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The
Company continues to purchase services from SMS and SMSI
because it believes the terms it receives from them are at
least as favorable to the Company as it could obtain from
non-affiliated providers of similar services.  The
Company believes it is the largest and most important
customer of SMS and SMSI (and from time to time may be their
only customer), and accordingly the Company is able to
negotiate better terms, receives more personal and responsive
service and is more likely to receive credits and other
financial accommodations from its affiliates than the Company
could reasonably expect to receive from an unrelated service
provider who has significant other customers and
business.  The Company periodically engages an
outside firm to conduct a survey of fees and rates charged by
comparable national labor sourcing firms to serve as a
comparison to the rates charged by such affiliates, and
expects to repeat that survey during 2012.  The
most recent such survey showed that the rates negotiated with
the Affiliates are in fact slightly less than those charged
by unrelated vendors providing similar
services.  The Company's cost of revenue would have
increased by at least $171,000 and $166,000 for the three
months ended March 31, 2012 and 2011, respectively, if the
Company would have instead used an unaffiliated entity to
provide comparable services at the surveyed
rates.  All affiliate contracts are reviewed and
approved by SGRP's Audit Committee, as described
below.  See also <font style="FONT-STYLE: italic">Dependence Upon and Cost of
Services Provided by Affiliates and Potential Conflicts in
Services Provided by Affiliates</font> in Item 1A (Risk
Factors) in SGRP's 2011 Annual Report.</font>
</div><br/><div style="TEXT-ALIGN: justify; TEXT-INDENT: 27pt">
<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The
Company has been advised that Messrs. Brown and Bartels are
not paid any salaries as officers of SMS or SMSI so there
were no salary reimbursements for them included in such costs
or premium. However, since SMS and SMSI are “Subchapter
S” corporations and are owned by Messrs. Brown and
Bartels, all income from SMS and SMSI is allocated to
them.</font>
</div><br/><div style="TEXT-ALIGN: justify; TEXT-INDENT: 27pt">
<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">In
July 2008, the Company, through SPAR Marketing Force, Inc.
(“SMF”), entered into a new Master Lease
Agreement with SMS, and in July and September of 2008 entered
into new separate operating leases with SMS pursuant to
Equipment Leasing Schedules under that Master Lease
Agreement.  Each operating lease had a 36 month
term and representations, covenants and defaults customary
for the leasing industry. The leases were for handheld
computers to be used by field merchandisers in the
performance of various merchandising and marketing services
in the United States and had a total monthly payment of
$11,067. These handheld computers had an original purchase
price of $401,188.  The monthly payments were based
upon a lease factor of 3.1%.  As of September 2011,
these lease agreements expired and were paid in
full.  In addition, SMS has granted SMF continued
use of the equipment at no additional charge to ensure
continued compliance with the Field Services Agreement noted
above.  The Company estimates that the value of the
handheld computers is approximately $2,000 to $4,000 per
month.</font>
</div><br/><div style="TEXT-ALIGN: justify; TEXT-INDENT: 27pt">
<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The
following transactions occurred between the Company and the
above affiliates (in thousands):</font>
</div><br/><table cellpadding="0" cellspacing="0" width="90%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
<td valign="bottom" width="70%" style="PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: center; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td colspan="6" valign="bottom" width="28%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">Three
Months Ended March 31,</font>
</div>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: center; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
</tr>
<tr>
<td valign="bottom" width="70%" style="TEXT-ALIGN: center; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: center; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td colspan="2" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">2012</font>
</div>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: center; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: center; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td colspan="2" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">2011</font>
</div>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
</tr>
<tr style="background-color: #C0FFFF;">
<td valign="bottom" width="70%" style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">Services
provided by affiliates:</font>
</div>
</td>
<td valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td colspan="2" valign="bottom" width="13%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td colspan="2" valign="bottom" width="13%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
</tr>
<tr>
<td align="left" valign="bottom" width="70%" style="PADDING-LEFT: 0pt; MARGIN-LEFT: 10pt">
<div style="MARGIN-LEFT: 10pt">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">Field
merchandiser services (SMS)</font>
</div>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">$</font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">4,609</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">$</font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">4,388</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
</tr>
<tr style="background-color: #C0FFFF;">
<td align="left" valign="bottom" width="70%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
</tr>
<tr>
<td align="left" valign="bottom" width="70%" style="PADDING-LEFT: 0pt; MARGIN-LEFT: 10pt">
<div style="MARGIN-LEFT: 10pt">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">Field
management services (SMSI)</font>
</div>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">$</font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">1,090</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">$</font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">1,124</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
</tr>
<tr style="background-color: #C0FFFF;">
<td align="left" valign="bottom" width="70%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
</tr>
<tr>
<td align="left" valign="bottom" width="70%" style="PADDING-BOTTOM: 2px; PADDING-LEFT: 0pt; MARGIN-LEFT: 10pt">
<div style="MARGIN-LEFT: 10pt">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">Handheld
computer leases (SMS)</font>
</div>
</td>
<td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">$</font>
</td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">-</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">$</font>
</td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">33</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
</tr>
<tr style="background-color: #C0FFFF;">
<td valign="bottom" width="70%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
</tr>
<tr>
<td align="left" valign="bottom" width="70%" style="PADDING-BOTTOM: 4px; PADDING-LEFT: 0pt; MARGIN-LEFT: 10pt">
<div style="MARGIN-LEFT: 10pt">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">Total
services provided by affiliates</font>
</div>
</td>
<td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">$</font>
</td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">5,699</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">$</font>
</td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">5,545</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
</tr>
</table><br/><table cellpadding="0" cellspacing="0" width="90%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
<td align="left" valign="bottom" width="70%">
<div>
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">    Accrued
expenses due to affiliates (in thousands):</font>
</div>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: center">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td colspan="2" valign="bottom" width="13%" style="TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">March
 31,</font>
</div>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: center">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: center">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td colspan="2" valign="bottom" width="13%" style="TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">December
31,</font>
</div>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: center">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
</tr>
<tr>
<td valign="bottom" width="70%" style="TEXT-ALIGN: center; PADDING-BOTTOM: 2px">
<div style="TEXT-ALIGN: center">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">     </font>
</div>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: center; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td colspan="2" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">2012</font>
</div>
</div>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: center; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: center; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td colspan="2" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">2011</font>
</div>
</div>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
</tr>
<tr style="background-color: #C0FFFF;">
<td align="left" valign="bottom" width="70%" style="PADDING-BOTTOM: 4px">
<div>
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">    Total
accrued expenses due to affiliates</font>
</div>
</td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">$</font>
</td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">1,551</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">$</font>
</td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">1,092</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
</tr>
</table><br/><div style="TEXT-ALIGN: justify; TEXT-INDENT: 27pt">
<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">In July
1999, SMF, SMS and SIT entered into a perpetual software
ownership agreement providing that each party independently
owned an undivided share of and had the right to unilaterally
license and exploit their "Business Manager" Internet job
scheduling software (which had been jointly developed by such
parties), and all related improvements, revisions,
developments and documentation from time to time voluntarily
made or procured by any of them at its own expense. In
addition, SPAR Trademarks, Inc. ("STM"), SMS and SIT entered
into separate perpetual trademark licensing agreements
whereby STM has granted non-exclusive royalty-free licenses
to SIT and SMS (and through them to their commonly controlled
subsidiaries and affiliates by sublicenses, including SMSI)
for their continued use of the name "SPAR" and certain other
trademarks and related rights of STM, a wholly owned
subsidiary of SGRP.  SMS and SMSI provide services
to the Company, as described above, and SIT no longer
provides services to the Company and does not compete with
the Company.</font>
</div><br/><div style="TEXT-ALIGN: justify; TEXT-INDENT: 27pt">
<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Through
arrangements with the Company, SMS and SMSI participate in
various benefit plans, insurance policies and similar group
purchases by the Company, for which the Company charges them
their allocable shares of the costs of those group items and
the actual costs of all items paid specifically for them. All
such transactions between the Company and the above
affiliates are paid and/or collected by the Company in the
normal course of business.  As an accommodation,
the Company also provides certain accounting, human resource
and similar administrative services to SIT and certain other
affiliates of Robert G. Brown and William H. Bartels, at a
nominal cost.</font>
</div><br/><div style="TEXT-ALIGN: justify; TEXT-INDENT: 27pt">
<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">In
addition to the above, SMSI purchases insurance coverage for
worker compensation, casualty and property insurance risk for
itself, SMS and the Company from Affinity Insurance, Ltd.
(“Affinity”).  SMSI owns minority (less
than 1%) equity interest in Affinity, and Mr. Robert G. Brown
is a director of Affinity.  The Affinity insurance
premiums for such coverage are ultimately charged to SMSI,
SMS and the Company based on the proportion of their
respective insurable interests.</font>
</div><br/><div style="TEXT-ALIGN: justify; TEXT-INDENT: 27pt">
<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">On
December 31, 2010, there were 338,801 shares of SGRP's Series
A Preferred Stock owned by a non-SGRP retirement plan whose
trustee is and beneficiaries include Robert G. Brown (who is
a co-founder, director, executive officer and significant
shareholder of SGRP), and there were 215,601 shares of SGRP's
Series A Preferred Stock owned by a non-SGRP retirement plan
whose trustee is and beneficiaries include William H. Bartels
(who also is a co-founder, director, executive officer and
significant shareholder of SGRP), which shares collectively
constituted all of the outstanding shares of Series A
Preferred Stock issued by SGRP. Those shares were originally
purchased pursuant to subscription agreements on March 31,
2008, and September 24, 2008, at the closing Nasdaq bid price
of SGRP's Common Stock for the preceding trading day, which
was $1.12 per share for the March purchases and $0.86 per
share for the September purchases.  Each share of
SGRP's Series A Preferred Stock could be converted into one
share of SGRP's Common Stock (at the rate of one to one), at
the option of the holder and without further consideration,
and accumulated dividends at the rate of ten percent per
annum.  SGRP's Audit Committee and Board of
Directors each reviewed and unanimously approved this
transaction, including the pricing, conversion and other
terms of the Preferred Stock and the affiliated relationship
of the parties. The offer,  sale and conversion of
such Preferred Stock
were  not  registered under the
Securities Act or other securities laws, as they were a
non-public offer and sale made in reliance upon (among other
things) Section 4 (2) of the Securities Act.</font>
</div><br/><div style="TEXT-ALIGN: justify; TEXT-INDENT: 27pt">
<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">On or
before March 10, 2011, Mr. Brown and Mr. Bartels, as trustees
of those plans, each had requested that their plan's
preferred shares be converted into SGRP’s Common Stock
in accordance with its terms, and in order to facilitate
conversion of those shares by payment of all accrued and
unpaid dividends, on March 10, 2011, SGRP's Board of
Directors (i) fixed March 10, 2011, as the applicable record
date for determination of the holders of the SGRP’s
Series A Preferred Stock eligible to receive such dividends,
(ii) declared a dividend on such SGRP’s Series A
Preferred Stock equal to the accrued and unpaid dividends
thereon, payable in shares of SGRP’s Common Stock
valued at their market value ($2.34 per share) on such record
date, and (iii) authorized the issuance of the shares of
SGRP’s Common Stock necessary to effect such conversion
(554,402 shares) and accrued dividend payment (54,584 shares)
in consideration of the preferred shares surrendered and the
accrued dividends thereby satisfied.  As a result
of such conversions and stock dividends, on March 11, 2011,
Mr. Brown's plans received 372,158 shares of SGRP’s
Common Stock (33,357 shares of which were for accrued
dividends) and Mr. Bartels' plan received 236,828 shares of
SGRP’s Common Stock (21,227 shares of which were for
accrued dividends).</font>
</div><br/><div style="TEXT-ALIGN: justify; TEXT-INDENT: 27pt">
<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">In the
event of any material dispute in the business relationships
between the Company and SMS, SMSI, or SIT, it is possible
that Messrs. Brown or Bartels may have one or more conflicts
of interest with respect to these relationships and such
dispute could have a material adverse effect on the
Company.</font>
</div><br/>
<div>
<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">7.         Preferred
Stock</font>
</div><br/><div style="TEXT-ALIGN: justify; TEXT-INDENT: 27pt">
<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">SGRP's
certificate of incorporation also authorizes it to issue
3,000,000 shares of preferred stock with a par value of $0.01
per share (the "SGRP Preferred Stock"), which may have such
preferences and priorities over the SGRP Common Stock and
other rights, powers and privileges as the Company's Board of
Directors may establish in its discretion from time to
time.  The Company has created and authorized the
issuance of a maximum of 3,000,000 shares of Series A
Preferred Stock pursuant to SGRP's Certificate of Designation
of Series "A" Preferred Stock (the "SGRP Series A Preferred
Stock"), which have dividend and liquidation preferences,
have a cumulative dividend of 10% per year, are redeemable at
the Company's option and are convertible at the holder's
option (and without further consideration) on a one-to-one
basis into SGRP Common Stock.  After the Series A
Preferred Stock conversion described in Note 6, above,
2,445,598 shares of SGRP Series A Preferred Stock remained
authorized and available for issuance under SGRP's
certificate of incorporation and Certificate of Designation
of Series "A" Preferred Stock.  The number of
shares authorized by such designation could, however, be
reduced by amendment or redemption to facilitate the creation
of other SGRP Preferred Series.</font>
</div><br/>
<div>
<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">8.         Stock-Based
Compensation</font>
</div><br/><div style="TEXT-ALIGN: justify; TEXT-INDENT: 27pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font size="3" style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">SGRP
currently grants options to its eligible directors,
officers and employees and certain employees of its
affiliates to purchase shares of Common Stock issued by
SGRP ("SGRP Shares") pursuant to its 2008 Stock
Compensation Plan, (as amended, the "2008
Plan").  SGRP also has granted stock options
that continue to be outstanding under its predecessor,
the 2000 stock option plan ("2000 Plan"). The 2000 Plan
will continue to be outstanding for the purposes of any
remaining outstanding options issued under it for so long
as such options are outstanding. As described below, SGRP
has the authority to issue other types of stock-based
awards under the 2008 Plan, but (except for restricted
stock award described below) to date it has not done
so.</font></font></font>
</div><br/><div style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; TEXT-INDENT: 27pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The
Company believes that it is desirable to align the
interests of SGRP’s directors, executives, employees
and consultants with those of its stockholders through
their ownership of SGRP Shares.  Although the
Company does not require its directors, executives,
employees or consultants to own SGRP Shares, the
Corporation believes that it can help achieve this
objective by providing long term equity incentives through
the issuance to its directors, executives, employees or
consultants of options to purchase SGRP Shares and other
stock-based awards pursuant to the 2008 Plan (as described
below) and facilitating the purchase of SGRP Shares at a
modest discount by all of its executives, employees and
consultants who elect to participate in its Employee Stock
Purchase Plan (as defined below).  In particular,
the Company believes that the award of options to purchase
SGRP Shares to such directors, executives, employees and
consultants encourages growth in their ownership of SGRP
Shares, which in turn leads to the expansion of their stake
in the long-term performance and success of the
Company.</font></font>
</div><br/><div style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; TEXT-INDENT: 27pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">SGRP's
stockholders approved and adopted the 2008 Plan in May of
2008, as the successor to the 2000 Plan with respect to all
new options issued, and an amendment to the 2008 Plan in
May of 2009, permitting the discretionary repricing
described below. The 2008 Plan provides for the granting of
either incentive or nonqualified stock options to purchase
SGRP Shares, restricted SGRP Shares, and restricted stock
units, stock appreciation rights and other awards based on
SGRP Shares ("Awards") to SGRP Directors and the Company's
specified executives, employees and consultants (which are
employees of certain of its affiliates), although to date
SGRP has not issued any permissible form of award other
than stock options.  Unless terminated sooner as
provided therein, the 2008 Plan will terminate on May 28,
2018, which is ten years from the 2008 Plan Effective Date,
and no further Awards may be made under
it.  However, any existing Awards made prior to
such termination will continue in accordance with their
respective terms and will continue to be governed by the
2008 Plan.  Stock options granted under the 2008
Plan have a maximum term of ten years, except in the case
of incentive stock options granted to greater than 10%
stockholders (whose terms are limited to a maximum of five
years), and SGRP has generally issued options having
maximum terms.</font></font>
</div><br/><div style="TEXT-ALIGN: justify; TEXT-INDENT: 27pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The
2008 Plan limits the number of SGRP Shares that may be
covered by Awards ("Outstanding Covered Shares") to 5,600,000
SGRP Shares in the aggregate (the "Maximum Covered Shares"),
which Outstanding Covered Shares for this purpose consist of
the sum of (i) the SGRP Shares covered by all Awards issued
under the 2008 Plan on or after May 29, 2008 ("New Awards"),
plus (ii) and the SGRP Shares covered by all stock options
issued at any time under the 2000 Plan or 1995 Plan to the
extent they were still outstanding on May 29, 2008
("Continuing Awards").  SGRP Shares covered by New
Awards or Continuing Awards that expire, lapse, terminate,
are forfeited, become void or otherwise cease to exist (other
than as a result of exercise) are no longer Outstanding
Covered Shares, are added back to remaining availability
under the Maximum Covered Shares and thus become available
for New Award grants, while those SGRP Shares covered by
exercised New Awards or Continuing Awards continue to be
Outstanding Covered Shares and are not added back to, and
thus continue to reduce, the remaining availability under the
Maximum Covered Shares under the 2008 Plan.  The
Outstanding Covered Shares and Maximum Covered Shares (as
well as the SGRP Shares covered by a particular Award) are
all subject to certain adjustments that may be made by the
Compensation Committee upon the occurrence of certain changes
in the Corporation's capitalization or structure as provided
in the 2008 Plan.  Except for the adjustments
described above, an increase in the Maximum Covered Shares
requires the consent of the SGRP stockholders under the terms
of the 2008 Plan and Exchange Rules.</font>
</div><br/><div style="TEXT-ALIGN: justify; TEXT-INDENT: 27pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The
2008 Plan (as amended in 2009) gives SGRP's Compensation
Committee the full authority and complete flexibility from
time to time to designate and modify (in its discretion) one
or more of the outstanding awards (including their exercise
and base prices and other components and terms) to (among
other things) restore their intended values and incentives to
their holders. However, the exercise price, base value or
similar component (if equal to SGRP's full stock price at
issuance) of any award cannot be lowered to an amount that is
less than the Fair Market Value (as defined in the 2008 Plan)
on the date of the applicable modification, and no
modification can adversely affect an awardee's rights or
obligations under an award without the awardee's consent. No
further consent of SGRP's stockholders is required for any
repricing or other modification of any outstanding or other
aware under the 2008 Plan, including those previously issued
under predecessor plans.  Awards have only been
repriced once to date pursuant to this
authority.  In 2009, SGRP’s Compensation
Committee approved an offer to exchange and reprice stock
options covering 2.1 million shares of SGRP’s Common
Stock, and outstanding stock options were voluntarily
surrendered by and repriced for eighty-one of SGRP’s
eligible officers, employees and consultants and five of its
directors, who received new option contracts to purchase an
aggregate of 1,788,304 shares of SGRP’s Common Stock in
exchange for their old options.  For details of
such offer, please see SGRP’s Offer to Exchange Certain
Outstanding Stock Options, as described below.</font>
</div><br/><div style="TEXT-ALIGN: justify; TEXT-INDENT: 27pt">
<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Stock
options and other stock based awards under the 2008 Plan may
be issued from time to time by SGRP in its discretion to the
Company's executives and other employees and generally are
included in the annual incentive plans of SGRP's
executives.  The Company's management may present
recommendations for such awards to the Compensation Committee
at any of its regular quarterly meetings, although recently
most recommendations have been made at the August
meeting.  The Chairman of the Board or the
Compensation Committee may make those recommendations
respecting Mr. Raymond, Mr. Raymond as Chief Executive
Officer makes those recommendations respecting Mr. Segreto,
Ms. Belzer and Ms. Franco, as well as for any new officer,
and each of those executives in turn are allocated potential
option shares for their departments and make recommendations
respecting those under their supervision (subject to review
and approval by Mr. Raymond).  In recommending to
the Compensation Committee the actual number of options (and
options shares covered) to be granted to each individual, the
person making the recommendation makes an assessment of the
individual's contribution to the Company's overall
performance, the individual's successful completion of a
special project, and any significant increase or decrease in
the participant's abilities, responsibilities and performance
of his or her duties.  The Compensation Committee
reviews and discusses managements' recommendations at its
meeting and determines whether and to what extent to approve
and grant the proposed stock option or other stock based
awards to executives and employees of the Company pursuant to
the 2008 Plan.</font>
</div><br/><div style="TEXT-ALIGN: justify; TEXT-INDENT: 27pt">
<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The
stock options issued under the 2008 Plan are typically
"nonqualified" (as a tax matter), have a ten (10) year
maximum life (term) and vest during the first four years
following issuance at the rate of 25% on each anniversary
date of their issuance.  The Company accounts for
its employee and affiliate employee stock option expense as
compensation expense in the Company’s financial
statements when the stock options are granted, as now
required by applicable accounting principles. Share-based
compensation cost is measured on the grant date, based on the
fair value of the award calculated at that date, and is
recognized over the requisite service period, which generally
is the options' vesting period. Fair value is calculated
using the Black-Scholes option pricing model.</font>
</div><br/><div style="TEXT-ALIGN: justify; TEXT-INDENT: 27pt">
<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Based
upon the Black-Scholes calculation, share-based compensation
expense related to employee and non-employee stock option
grants totaled $108,000 and $55,000 for the three months
ended March 31, 2012 and 2011, respectively.  The
unamortized expense as of March 31, 2012, was approximately
$720,000 employee and non-employee outstanding stock option
grants.  The impact of the total share-based
compensation expense on basic/diluted earnings per share was
less than half a cent for both the three months ended March
31, 2012 and 2011.</font>
</div><br/><div style="TEXT-ALIGN: justify; TEXT-INDENT: 27pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font size="3" style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">On
March 10, 2011, SGRP's Compensation Committee authorized an
award of 100,000 shares of restricted SGRP common stock as
additional compensation to Gary S. Raymond, the Company's
Chief Executive Officer and President.  The restricted
shares vest 20,000 shares a year over the next five (5)
year, starting on March 10, 2012 and continuing through
March 10, 2016, provided Mr. Raymond continues to be so
employed by the Company on the applicable vesting
date.  In March 2012, the Company issued the first
20,000 restricted common shares to Mr.
Raymond.  If Mr. Raymond leaves such employment,
he will lose his right to receive any unvested
shares.  The compensation expense related to these
restricted shares will be amortized, by the Company, over
the five (5) year vesting period that started on April 1,
2011.  The Company recorded compensation expense
of $11,064 for the three months ended March 21,
2012.  The unamortized expense as of March 31,
2012 was approximately $177,000. </font></font></font>
</div><br/><div style="TEXT-ALIGN: justify; TEXT-INDENT: 27pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">In
2001, SGRP adopted its 2001 Employee Stock Purchase Plan
(the "ESP Plan"), which replaced its earlier existing plan,
and its 2001 Consultant Stock Purchase Plan (the "CSP
Plan"). These plans were each effective as of June 1, 2001.
The ESP Plan allows employees of the Company, and the CSP
Plan allows employees of the affiliates of the Company (See
- Transactions with Related Persons, Promoters and Certain
Control Persons, above), to purchase SGRP's Common Stock
from SGRP without having to pay any brokerage commissions.
On August 8, 2002, SGRP's Board approved a 15% discount for
employee purchases of Common Stock under the ESP Plan and
recommended that its affiliates pay 15% of the value of the
stock purchased as a cash bonus for affiliate consultant
purchases of Common Stock under the CSP Plan.</font>
</div><br/><div style="TEXT-ALIGN: justify; TEXT-INDENT: 27pt">
<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">For
more information respecting the Company's stock option and
compensation plans, please see "Stock Compensation Plans" in
SGRP's Proxy Statement for its 2012 meeting of stockholders
as filed with the SEC on April 25, 2012.</font>
</div><br/>
<div>
<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">9.        Customer
Deposits</font>
</div><br/><div style="TEXT-ALIGN: justify; TEXT-INDENT: 27pt">
<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Customer
deposits at March 31, 2012, were $217,000 ($102,000 from
domestic operations and $115,000 from international
operations) compared to $183,000 at December 31, 2011
($188,000 from domestic operations and $(5,000) from
international operations).</font>
</div><br/>
<div>
<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">10.      Commitments
and Contingencies</font>
</div><br/><div style="TEXT-INDENT: 27pt">
<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Legal
Matters</font>
</div><br/><div style="TEXT-ALIGN: justify; TEXT-INDENT: 27pt">
<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The
Company is a party to various legal actions and
administrative proceedings arising in the normal course of
business.  In addition, the Company is involved in
various other legal actions and administrative proceedings
through its contractual obligation to pay SMS's costs (as
part of the total costs of SMS borne by the Company - see
Note 6, <font style="FONT-STYLE: italic">Related Party
Transactions</font>, above). In the opinion of the Company's
management, disposition of these matters are not anticipated
to have a material adverse effect on the Company or its
estimated or desired assets, business, capital, cash flow,
credit, expenses, financial condition, income, liabilities,
liquidity, locations, marketing, operations, prospects,
sales, strategies, taxation or other achievement, results or
condition.</font>
</div><br/>
<div>
<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">11.      Geographic
Data</font>
</div><br/><div style="TEXT-ALIGN: justify; TEXT-INDENT: 27pt">
<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The
Company operates in the same single business segment (e.g.,
merchandising and marketing services) in both its Domestic
Merchandising Services Division and its International
Merchandising Services Division.  The Company uses
the same metrics to measure the performance of both its
domestic and international divisions.  The primary
measurement utilized by management is operating profits,
historically the key indicator of long-term growth and
profitability, as the Company is focused on reinvesting the
operating profits of each of its international subsidiaries
back into its local markets in an effort to improve market
share and continued expansion efforts.  Set forth
below are summaries (in thousands) of the Company's net
revenues from its United States subsidiaries (i.e., the
Domestic Merchandising Services Division) and from its
international (non-U.S.) subsidiaries (i.e., the
International Merchandising Services Division), net revenue
from certain international subsidiaries as a percent of
consolidated net revenue, operating income (loss) and long
lived assets by geographic area for 2012 and 2011,
respectively:</font>
</div><br/><table cellpadding="0" cellspacing="0" width="90%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
<td align="left" valign="bottom" width="70%" style="PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: center; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td colspan="6" valign="bottom" width="28%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">Three
Months Ended</font> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">March
31,</font></font>
</div>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: center; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
</tr>
<tr>
<td valign="bottom" width="70%" style="TEXT-ALIGN: center; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: center; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td colspan="2" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">2012</font>
</div>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: center; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: center; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td colspan="2" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">2011</font>
</div>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
</tr>
<tr>
<td align="left" valign="bottom" width="70%">
<div>
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; TEXT-DECORATION: underline"><font style="DISPLAY: inline; FONT-FAMILY: times new roman">Net
revenues:</font></font>
</div>
</td>
<td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td align="left" colspan="2" valign="bottom" width="13%" style="PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td align="left" colspan="2" valign="bottom" width="13%" style="PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
</tr>
<tr style="background-color: #C0FFFF;">
<td align="left" valign="bottom" width="70%">
<div>
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">United
States</font>
</div>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">$</font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"><font id="TAB1-16" style="MARGIN-LEFT: 14.4pt"></font>9,285</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">$</font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"><font id="TAB1-17" style="MARGIN-LEFT: 12.75pt"></font>9,521</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
</tr>
<tr>
<td align="left" valign="bottom" width="70%" style="PADDING-BOTTOM: 2px">
<div>
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">International</font>
</div>
</td>
<td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">11,762</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">6,897</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
</tr>
<tr style="background-color: #C0FFFF;">
<td align="left" valign="bottom" width="70%" style="PADDING-BOTTOM: 4px">
<div>
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">Total
net revenues</font>
</div>
</td>
<td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">$</font>
</td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"><font id="TAB1-18" style="MARGIN-LEFT: 14.4pt"></font>21,047</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">$</font>
</td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"><font id="TAB1-19" style="MARGIN-LEFT: 12.75pt"></font>16,418</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
</tr>
</table><br/><table cellpadding="0" cellspacing="0" width="90%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
<td valign="bottom" width="40%" style="PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: center; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td colspan="14" valign="bottom" width="58%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">Three
Months Ended March 31,</font>
</div>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: center; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
</tr>
<tr>
<td valign="bottom" width="40%" style="TEXT-ALIGN: center; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: center; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td colspan="6" valign="bottom" width="28%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">2012</font>
</div>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: center; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: center; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td colspan="6" valign="bottom" width="28%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">2011</font>
</div>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: center; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
</tr>
<tr>
<td valign="bottom" width="40%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; TEXT-DECORATION: underline">Net
revenues <font style="DISPLAY: inline; FONT-FAMILY: times new roman">international:</font></font>
</div>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: center; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td colspan="2" valign="bottom" width="13%" style="TEXT-ALIGN: center; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: center; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: center; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td colspan="2" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">%
of</font>
</div>
<div style="TEXT-ALIGN: center">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">consolidated</font>
</div>
<div style="TEXT-ALIGN: center">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">net
revenue</font>
</div>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: center; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: center; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td colspan="2" valign="bottom" width="13%" style="TEXT-ALIGN: center; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: center; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: center; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td colspan="2" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">%
of</font>
</div>
<div style="TEXT-ALIGN: center">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">consolidate</font>
</div>
<div style="TEXT-ALIGN: center">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> net
revenue</font>
</div>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
</tr>
<tr style="background-color: #C0FFFF;">
<td align="left" valign="bottom" width="40%">
<div>
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">Mexico</font>
</div>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">$</font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">3,243</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">15.4</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">%</font>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">$</font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">–</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">–</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">%</font>
</td>
</tr>
<tr>
<td align="left" valign="bottom" width="40%">
<div>
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">South
Africa</font>
</div>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">1,915</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">9.1</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">632</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">3.8</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
</tr>
<tr style="background-color: #C0FFFF;">
<td align="left" valign="bottom" width="40%">
<div>
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">Australia</font>
</div>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">1,464</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">7.0</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">2,103</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">12.8</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
</tr>
<tr>
<td align="left" valign="bottom" width="40%">
<div>
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">Canada</font>
</div>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">1,438</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">6.8</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">1,494</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">9.1</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
</tr>
<tr style="background-color: #C0FFFF;">
<td align="left" valign="bottom" width="40%">
<div>
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">Japan</font>
</div>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">1,272</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">6.0</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">773</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">4.7</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
</tr>
<tr>
<td align="left" valign="bottom" width="40%">
<div>
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">China</font>
</div>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">865</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">4.1</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">1,027</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">6.3</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
</tr>
<tr style="background-color: #C0FFFF;">
<td align="left" valign="bottom" width="40%" style="PADDING-BOTTOM: 2px">
<div>
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">All
Others</font>
</div>
</td>
<td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">1,565</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">7.5</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">868</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">5.3</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
</tr>
<tr>
<td align="left" valign="bottom" width="40%" style="PADDING-BOTTOM: 4px">
<div>
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">Total
international revenue</font>
</div>
</td>
<td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">$</font>
</td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">11,762</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">55.9</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">%</font>
</td>
<td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">$</font>
</td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">6,897</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">42.0</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">%</font>
</td>
</tr>
</table><br/><table cellpadding="0" cellspacing="0" width="90%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
<td align="left" valign="bottom" width="70%" style="PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: center; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td colspan="6" valign="bottom" width="28%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">Three
Months Ended March 31,</font>
</div>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: center; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
</tr>
<tr>
<td valign="bottom" width="70%" style="TEXT-ALIGN: center; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: center; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td colspan="2" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">2012</font>
</div>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: center; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: center; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td colspan="2" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">2011</font>
</div>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
</tr>
<tr>
<td align="left" valign="bottom" width="70%">
<div>
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; TEXT-DECORATION: underline"><font style="DISPLAY: inline; FONT-FAMILY: times new roman">Operating
income (loss):</font></font>
</div>
</td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td colspan="2" valign="bottom" width="13%" style="PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td colspan="2" valign="bottom" width="13%" style="PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
</tr>
<tr style="background-color: #C0FFFF;">
<td align="left" valign="bottom" width="70%">
<div>
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">United
States</font>
</div>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">$</font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"><font id="TAB1-20" style="MARGIN-LEFT: 14.4pt"></font>332</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">$</font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"><font id="TAB1-21" style="MARGIN-LEFT: 13.5pt"></font>591</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
</tr>
<tr>
<td align="left" valign="bottom" width="70%" style="PADDING-BOTTOM: 2px">
<div>
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">International</font>
</div>
</td>
<td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">138</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">(194</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">)</font>
</td>
</tr>
<tr style="background-color: #C0FFFF;">
<td align="left" valign="bottom" width="70%" style="PADDING-BOTTOM: 4px">
<div>
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">Total
operating income</font>
</div>
</td>
<td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">$</font>
</td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"><font id="TAB1-22" style="MARGIN-LEFT: 15.15pt"></font>470</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">$</font>
</td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"><font id="TAB1-23" style="MARGIN-LEFT: 12.75pt"></font>397</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
</tr>
</table><br/><table cellpadding="0" cellspacing="0" width="90%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
<td valign="bottom" width="70%" style="PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: center; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td colspan="2" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center">
<div>
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">March
31,</font>
</div>
<div>
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> 2012</font>
</div>
</div>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: center; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: center; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td colspan="2" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">December
31,</font>
</div>
<div style="TEXT-ALIGN: center">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">2011</font>
</div>
</div>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
</tr>
<tr>
<td align="left" valign="bottom" width="70%">
<div>
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; TEXT-DECORATION: underline"><font style="DISPLAY: inline; FONT-FAMILY: times new roman">Long
lived assets:</font></font>
</div>
</td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td colspan="2" valign="bottom" width="13%" style="PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td colspan="2" valign="bottom" width="13%" style="PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
</tr>
<tr style="background-color: #C0FFFF;">
<td align="left" valign="bottom" width="70%">
<div>
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">United
States</font>
</div>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">$</font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"><font id="TAB1-24" style="MARGIN-LEFT: 21.75pt"></font>2,416</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">$</font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"><font id="TAB1-25" style="MARGIN-LEFT: 12.6pt"></font>2,169</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
</tr>
<tr>
<td align="left" valign="bottom" width="70%" style="PADDING-BOTTOM: 2px">
<div>
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">International</font>
</div>
</td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">1,375</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">1,385</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
</tr>
<tr style="background-color: #C0FFFF;">
<td align="left" valign="bottom" width="70%" style="PADDING-BOTTOM: 4px">
<div style="MARGIN-LEFT: 0pt">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">Total
long lived assets</font>
</div>
</td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">$</font>
</td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"><font id="TAB1-26" style="MARGIN-LEFT: 22.5pt"></font>3,791</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">$</font>
</td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"><font id="TAB1-27" style="MARGIN-LEFT: 12.6pt"></font>3,554</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
</tr>
</table><br/>
<div>
<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">12.      Supplemental
Balance Sheet Information (in thousands)</font>
</div><br/><table cellpadding="0" cellspacing="0" width="90%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
<td align="left" valign="bottom" width="70%" style="PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: center; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td colspan="2" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center">
<div>
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">March
31,</font>
</div>
<div>
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> 2012</font>
</div>
</div>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: center; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: center; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td colspan="2" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">December
31,</font>
</div>
<div style="TEXT-ALIGN: center">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">2011</font>
</div>
</div>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
</tr>
<tr style="background-color: #C0FFFF;">
<td align="left" valign="bottom" width="70%">
<div>
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">Accounts
receivable, net, consists of the following:</font>
</div>
</td>
<td valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td colspan="2" valign="bottom" width="13%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td colspan="2" valign="bottom" width="13%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
</tr>
<tr>
<td align="left" valign="bottom" width="70%">
<div>
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">Trade</font>
</div>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">$</font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"><font id="TAB1-28" style="MARGIN-LEFT: 12.6pt"></font>10,938</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">$</font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"><font id="TAB1-29" style="MARGIN-LEFT: 18.15pt"></font>11,806</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
</tr>
<tr style="background-color: #C0FFFF;">
<td align="left" valign="bottom" width="70%">
<div>
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">Unbilled</font>
</div>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">3,407</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">3,309</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
</tr>
<tr>
<td align="left" valign="bottom" width="70%" style="PADDING-BOTTOM: 2px">
<div>
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">Non-trade</font>
</div>
</td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">399</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">403</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
</tr>
<tr style="background-color: #C0FFFF;">
<td align="left" valign="bottom" width="70%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">14,744</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">15,518</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
</tr>
<tr>
<td align="left" valign="bottom" width="70%" style="PADDING-BOTTOM: 2px">
<div>
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">Less
allowance for doubtful accounts</font>
</div>
</td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">71</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">57</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
</tr>
<tr style="background-color: #C0FFFF;">
<td align="left" valign="bottom" width="70%" style="PADDING-BOTTOM: 4px">
<div>
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">Accounts
receivable, net</font>
</div>
</td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">$</font>
</td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"><font id="TAB1-30" style="MARGIN-LEFT: 12.6pt"></font>14,673</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">$</font>
</td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"><font id="TAB1-31" style="MARGIN-LEFT: 18.9pt"></font>15,461</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
</tr>
</table><br/><table cellpadding="0" cellspacing="0" width="90%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
<td align="left" valign="bottom" width="70%" style="PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: center; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td colspan="2" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center">
<div>
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">March
31,</font>
</div>
<div>
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">2012</font>
</div>
</div>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: center; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: center; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td colspan="2" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">December
31,</font>
</div>
<div style="TEXT-ALIGN: center">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">2011</font>
</div>
</div>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
</tr>
<tr style="background-color: #C0FFFF;">
<td align="left" valign="bottom" width="70%">
<div>
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">Property
and equipment, net, consists of the following:</font>
</div>
</td>
<td valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td colspan="2" valign="bottom" width="13%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td colspan="2" valign="bottom" width="13%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
</tr>
<tr>
<td align="left" valign="bottom" width="70%">
<div>
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">Equipment</font>
</div>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">$</font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"><font id="TAB1-32" style="MARGIN-LEFT: 16.4pt"></font>8,174</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">$</font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"><font id="TAB1-33" style="MARGIN-LEFT: 9.75pt"></font>7,866</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
</tr>
<tr style="background-color: #C0FFFF;">
<td align="left" valign="bottom" width="70%">
<div>
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">Furniture
and fixtures</font>
</div>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">545</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">543</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
</tr>
<tr>
<td align="left" valign="bottom" width="70%">
<div>
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">Leasehold
improvements</font>
</div>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">250</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">250</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
</tr>
<tr style="background-color: #C0FFFF;">
<td align="left" valign="bottom" width="70%" style="PADDING-BOTTOM: 2px">
<div>
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">Capitalized
software development costs</font>
</div>
</td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">4,448</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">4,261</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
</tr>
<tr>
<td align="left" valign="bottom" width="70%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">13,417</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">12,920</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
</tr>
<tr style="background-color: #C0FFFF;">
<td align="left" valign="bottom" width="70%" style="PADDING-BOTTOM: 2px">
<div>
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">Less
accumulated depreciation and amortization</font>
</div>
</td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">11,646</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">11,397</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
</tr>
<tr>
<td align="left" valign="bottom" width="70%" style="PADDING-BOTTOM: 4px">
<div>
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">Property
and equipment, net</font>
</div>
</td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">$</font>
</td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"><font id="TAB1-34" style="MARGIN-LEFT: 16.4pt"></font>1,771</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">$</font>
</td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"><font id="TAB1-35" style="MARGIN-LEFT: 9.75pt"></font>1,523</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
</tr>
</table><br/><table cellpadding="0" cellspacing="0" width="90%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
<td align="left" valign="bottom" width="70%" style="PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: center; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td colspan="2" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center">
<div>
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">March
31,</font>
</div>
<div>
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> 2012</font>
</div>
</div>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: center; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: center; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td colspan="2" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">December
31,</font>
</div>
<div style="TEXT-ALIGN: center">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">2011</font>
</div>
</div>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
</tr>
<tr style="background-color: #C0FFFF;">
<td align="left" valign="bottom" width="70%">
<div>
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">Intangible
assets consist of the following:</font>
</div>
</td>
<td valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td colspan="2" valign="bottom" width="13%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td colspan="2" valign="bottom" width="13%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
</tr>
<tr>
<td align="left" valign="bottom" width="70%">
<div>
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">Customer
contracts and lists</font>
</div>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">$</font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"><font id="TAB1-36" style="MARGIN-LEFT: 12.6pt"></font>874</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">$</font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"><font id="TAB1-37" style="MARGIN-LEFT: 18.15pt"></font>869</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
</tr>
<tr style="background-color: #C0FFFF;">
<td align="left" valign="bottom" width="70%" style="PADDING-BOTTOM: 2px">
<div>
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">Less
accumulated amortization</font>
</div>
</td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">197</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">164</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
</tr>
<tr>
<td valign="bottom" width="70%" style="PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">$</font>
</td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"><font id="TAB1-38" style="MARGIN-LEFT: 12.6pt"></font>677</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">$</font>
</td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"><font id="TAB1-39" style="MARGIN-LEFT: 18.15pt"></font>705</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
</tr>
</table><br/><div style="TEXT-ALIGN: justify; TEXT-INDENT: 27pt">
<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The
Company is amortizing the customer contracts of $874,000 on a
straight line basis between 5 and 10
years.  Amortization expense for the three months
ending March 31, 2012 and for the year ended December 31,
2011 was approximately $33,000 and $100,000,
respectively.</font>
</div><br/><table cellpadding="0" cellspacing="0" width="90%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
<td valign="bottom" width="70%" style="PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: center; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td colspan="2" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center">
<div>
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">March
31,</font>
</div>
<div>
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">2012</font>
</div>
</div>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: center; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: center; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td colspan="2" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">December
31,</font>
</div>
<div style="TEXT-ALIGN: center">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">2011</font>
</div>
</div>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
</tr>
<tr style="background-color: #C0FFFF;">
<td align="left" valign="bottom" width="70%">
<div>
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">Accrued
expenses and other current liabilities consist of the
following:</font>
</div>
</td>
<td valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td colspan="2" valign="bottom" width="13%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td colspan="2" valign="bottom" width="13%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
</tr>
<tr>
<td align="left" valign="bottom" width="70%">
<div>
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">Accrued
salaries payable</font>
</div>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">$</font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"><font id="TAB1-40" style="MARGIN-LEFT: 13.75pt"></font>747</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">$</font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"><font id="TAB1-41" style="MARGIN-LEFT: 13.25pt"></font>1,005</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
</tr>
<tr style="background-color: #C0FFFF;">
<td align="left" valign="bottom" width="70%">
<div>
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">Accrued
accounting and legal expense</font>
</div>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">233</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">285</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
</tr>
<tr>
<td align="left" valign="bottom" width="70%" style="PADDING-BOTTOM: 2px">
<div>
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">Other</font>
</div>
</td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">2,443</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">2,749</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
</tr>
<tr style="background-color: #C0FFFF;">
<td align="left" valign="bottom" width="70%" style="PADDING-BOTTOM: 4px">
<div>
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">Accrued
expenses and other current liabilities</font>
</div>
</td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">$</font>
</td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"><font id="TAB1-42" style="MARGIN-LEFT: 13.7pt"></font>3,423</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold"> </font>
</td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">$</font>
</td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"><font id="TAB1-43" style="MARGIN-LEFT: 13.15pt"></font>4,039</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
</tr>
</table><br/>
<div>
<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">13.      Foreign
Currency Rate Fluctuations</font>
</div><br/><div style="TEXT-ALIGN: justify; TEXT-INDENT: 27pt">
<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The
Company has foreign currency exposure with its international
subsidiaries. In both 2012 and 2011, these exposures are
primarily concentrated in the Australian Dollar, Canadian
Dollar, Mexican Peso, South African Rand, Japanese Yen and
Chinese Yuan.  Total international assets were $10
million and total liabilities were $7.6 million based on
exchange rates at March 31, 2012.  International
revenues for the three months ended March 31, 2012 and 2011
were $11.8 million and $6.9 million, respectively. The
international division reported net income of approximately
$44,000 and net loss of $247,000 for the three months ended
March 31, 2012 and 2011, respectively.</font>
</div><br/>
<div>
<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">14.      Interest
Rate Fluctuations</font>
</div><br/><div style="TEXT-ALIGN: justify; TEXT-INDENT: 27pt">
<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The
Company is exposed to market risk related to the variable
interest rate on its lines of credit, both in its United
States subsidiaries (<font style="FONT-STYLE: italic">i.e</font>., the Domestic
Merchandising Services Division) and in its International
(non-U.S.) subsidiaries (<font style="FONT-STYLE: italic">i.e</font>., the International
Merchandising Services Division). At March 31, 2012, the
Company's outstanding lines of credit and other debt totaled
approximately $1.2 million, as noted in the table below (in
thousands):</font>
</div><br/><table cellpadding="0" cellspacing="0" width="90%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
<td valign="bottom" width="44%" style="BORDER-BOTTOM: black 2px solid">
<div>
<div>
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">Location</font>
</div>
</div>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: center; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td colspan="2" valign="bottom" width="26%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">Variable</font>
</div>
<div style="TEXT-ALIGN: center">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">Interest</font>
</div>
<div style="TEXT-ALIGN: center">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">Rate
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">(1)</font></font>
</div>
</div>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: center; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: center; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td colspan="2" valign="bottom" width="26%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">US</font>
</div>
<div style="TEXT-ALIGN: center">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">Dollars
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">(2)</font></font>
</div>
</div>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
</tr>
<tr style="background-color: #C0FFFF;">
<td align="left" valign="bottom" width="44%">
<div>
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">United
States</font>
</div>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="25%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">4.75</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">%</font>
</td>
<td align="left" valign="bottom" width="1%">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">$</font>
</td>
<td valign="bottom" width="25%" style="TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">678</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
</tr>
<tr>
<td align="left" valign="bottom" width="44%" style="PADDING-BOTTOM: 2px">
<div>
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">International</font>
</div>
</td>
<td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="25%" style="TEXT-ALIGN: right; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">0.01%
-10.35</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">%</font>
</td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="25%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">500</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
</tr>
<tr style="background-color: #C0FFFF;">
<td align="left" valign="bottom" width="44%" style="PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="25%" style="TEXT-ALIGN: right; PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font>
</td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">$</font>
</td>
<td valign="bottom" width="25%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman">1,178</font>
</td>
<td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px">
<font style="DISPLAY: inline; FONT-FAMILY: times new roman"> </font>
</td>
</tr>
</table><br/><div style="TEXT-INDENT: 27pt">
<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(1)  
Based on interest rate at March 31, 2012.</font>
</div><br/><div style="TEXT-INDENT: 27pt">
<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(2)  
Based on exchange rate at March 31, 2012.</font>
</div><br/><div style="TEXT-ALIGN: justify; TEXT-INDENT: 27pt">
<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Based
on the 2012 average outstanding borrowings under
variable-rate debt, a one-percentage point increase in
interest rates would negatively impact pre-tax earnings and
cash flows for the three months ended March 31, 2012 by
approximately $4,600.</font>
</div><br/>
<div>
<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">15.      Recently
Issued Accounting Standards</font>
</div><br/><div style="TEXT-ALIGN: justify; TEXT-INDENT: 27pt">
<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">In 2012
we adopted the provisions of ASU No. 2011-05,
“Comprehensive Income.” This ASU intends to
enhance comparability and transparency of other comprehensive
income components. The guidance provides an option to present
total comprehensive income, the components of net income and
the components of other comprehensive income in a single
continuous statement or two separate but consecutive
statements. This ASU eliminates the option to present other
comprehensive income components as part of the statement of
changes in shareowners’ equity. The provisions of this
ASU were applied retrospectively.</font>
</div><br/><div style="TEXT-ALIGN: justify; TEXT-INDENT: 27pt">
<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman"><font size="3" style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">In
September 2011, the FASB issued ASU No, 2001-07,
“Goodwill and Other Intangible
Assets”.  This ASU is intended to simplify
goodwill impairment testing by adding a qualitative review
step to assess whether the required quantitative impairment
analysis that exists today is necessary. The amended guidance
permits an entity to first perform a qualitative assessment
to determine whether it is more likely than not that the fair
value of a reporting unit is less than its carrying value. If
it is concluded that this is the case, it is necessary to
perform the currently prescribed two-step goodwill impairment
test. Otherwise, the two-step goodwill impairment test is not
required. The amended guidance is effective beginning in
2012, however, with earlier adoption
permitted.  The Company decided to early-adopt the
updated guidance to its 2011 annual impairment test and it
did not have a significant impact on the Company’s
consolidated financial statements.</font></font>
</div><br/>
<div>
<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">16.      Taxes</font>
</div><br/><div style="TEXT-ALIGN: justify; TEXT-INDENT: 27pt">
<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">In July
2006, the FASB issued an interpretation, <font style="FONT-STYLE: italic; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Accounting
for Uncertainty in Income Taxes</font>, now codified as ASC
Topic 740, which detailed guidance for the financial
statement recognition, measurement and disclosure of
uncertain tax positions recognized in an enterprise's
financial statements.  Tax positions must meet a
more-likely-than-not recognition threshold and requires that
interest and penalties that the tax law requires to be paid
on the underpayment of taxes should be accrued on the
difference between the amount claimed or expected to be
claimed on the return and the tax benefit recognized in the
financial statements. The Company's policy is to record this
interest and penalties as additional tax
expense.  The Company's tax reserves at March 31,
2012 and December 31, 2011 totaled $65,000 for potential
domestic state tax and federal tax liabilities.</font>
</div><br/><div style="TEXT-ALIGN: justify; TEXT-INDENT: 27pt">
<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">SPAR
and its subsidiaries file numerous consolidated, combined and
separate company income tax returns in the U.S. Federal
jurisdiction and in many U.S. state and foreign
jurisdictions. With few exceptions, SPAR is subject to U.S.
Federal, state and local income tax examinations for the
years 2008 through the present. However, tax authorities have
the ability to review years prior to the position taken by
the Company to the extent that SPAR utilized tax attributes
carried forward from those prior years.</font>
</div><br/>
<div>
<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">17.      Reclassifications</font>
</div><br/><div style="TEXT-ALIGN: justify; TEXT-INDENT: 27pt">
<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Certain
reclassifications have been made to the 2011 financial
statements to conform to the 2012 presentation.</font>
</div><br/>
<div>
<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">18.      Subsequent
Event</font>
</div><br/><div style="TEXT-ALIGN: justify; TEXT-INDENT: 27pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font size="3" style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font size="3" style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font size="3" style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">In
May 2012, the Company sold its 51% interest in its
subsidiary in Romania, SPAR CITY S.R.L. to that
subsidiary’s local investor for approximately
$</font>120,000<font size="3" style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">.</font></font></font></font></font>
</div><br/>