05.5
Notes to Consolidated Financial Statements
12. MINORITY INTERESTS
The Company has obligations to purchase options held by minority shareholders in certain of its subsidiaries. These obligations result from put options and are exercisable by the minority owners. If these put options were exercised, the Company would be required to purchase the minority owners’ interest for cash equal to the then fair value. As of December 31, 2008 the Company’s potential obligations under these put options are $112,000 of which $53,000 were exercisable and another $15,000 is exercisable within one year. In the last two fiscal years ending December 31, 2008, one put has been exercised for a total consideration of $7,000.
