Financial UpdateAs of March 31, 2012 the Company's cash balance was approximately $13.3 million compared to $19.0 million on March 31, 2011. In the first quarter of 2012 the Company used cash on hand to repurchase $36 million of senior convertible notes, made a $1.9 million semi-annual interest payment on the remaining $70.5 million of convertible notes and paid approximately $4.0 million in federal and state taxes. As of May 8, 2012, Flotek's cash balance was approximately $19 million. Outstanding receivables as of March 31, 2012 were $47.7 million, compared to $31.9 million as of March 31, 2011. Flotek continues to consider strategic options regarding its convertible notes. The Company currently has a total of $70.5 million of convertible notes outstanding that can be put to the Company in February, 2013. The Company also has a right to call the notes, at par, at any time after February 13, 2013. During the quarter, the Company repurchased $36 million of outstanding notes. With continued improvement in the Company's operations, balance sheet and cash flows, Flotek believes it has a number of options available to address any credit obligations due in the coming year. "With the vast improvement in Flotek's financial position over the past several quarters, we believe the Company is well positioned not only to address its obligations but to continue its growth largely with internally generated capital," added Chisholm. "While we remain focused on ways to opportunistically improve our balance sheet and strategically optimize our capital structure, we believe our financial obligations over the next twelve months can be more than adequately satisfied by cash generated by operations and availability under our current credit facility. We consider such activity to be a 'normal course' activity for our dynamically growing Company.