Quarterly report pursuant to sections 13 or 15(d)

Notes Payable

Notes Payable

6 Months Ended

Jun. 30, 2011

5.	Notes Payable

	June 30,		December 31,
	2011		2010
Note payable to affiliate of the Company’s principal shareholder	$	21,950	$	16,950
Note payable to former Triad shareholders, net of $4 and $39 of unamortized discount at June 30, 2011 and December 31, 2010, respectively		427		1,247
Notes payable to clearing firm under forgivable loan		8,571		8,571
Note payable to a subsidiary of Premier’s former shareholder		1,010		1,111
Total	$	31,958	$	27,879

The Company estimates that the fair value of notes payable was $31,678 at June 30, 2011 and $28,625 at December 31, 2010 based on then current interest rates at which similar amounts of debt could currently be borrowed. As of June 30, 2011, the Company was in compliance with all debt covenants in its debt agreements.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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