Long Term Debt

6 Months Ended

12 Months Ended

Jun. 30, 2012

Dec. 31, 2011

9. Long Term Debt. Long-term debt consists of:

Notes payable of BioZone Labs	June 30, 2012		December 31, 2011
Capitalized lease obligations bearing interest at rates ranging from 8.6% to 16.3%, payable in monthly installments of $168 to $1,589, inclusive of interest	$	223,873	$	307,255
City of Pittsburg Redevelopment Agency, 3% interest, payable in monthly installments of $3,640 inclusive of interest		242,627		257,639
Other		91,593		90,000
Notes payable of 580 Garcia Properties
Mortgage payable of 580 Garcia collateralized by the land and building payable in monthly installments of $20,794, inclusive of interest at 7.24% per annum		2,613,675		2,643,438
	$	3,171,768	$	3,298,332
Less: current portion		217,755		260,741
Total	$	2,954,013	$	3,037,591

NOTE 8 – Long Term Debt

	Year ended December 31,
Notes payable of Biozone Labs	2011		2010
Capitalized lease obligations bearing interest at rates ranging from 8.6% to 16.3%,	$	307,255	$	213,510
payable in monthly installments of $168 to $1,589, inclusive of interest
City of Pittsburg Redevelopment Agency, 3% interest, payable in monthly installments		257,639		304,721
of $3,640 inclusive of interest
Other		90,000		100,000
Notes payable of 580 Garcia Properties
Mortgage payable of 580 Garcia collateralized by the land and building		2,643,438		2,703,142
payable in monthly installments of $20,794, inclusive of interest at 7.24% per annum
	$	3,298,332	$	3,321,373
Less: current portion		260,741		277,299
		3,037,591		3,044,074

Long-term debt (excluding capital leases) matures as follow:

Future minimum annual lease payments for capital leases in effect as of December 31, 2011 are as follows: