NOTE 14. COMMITMENTS AND CONTINGENCIES InCon Contingency On September 9, 2011, the Company acquired all of the outstanding equity of InCon Processing, L.L.C., ("InCon"), a Delaware limited liability company, in a cash transaction pursuant to the terms of an equity purchase agreement. The equity of InCon was indirectly held by four individuals (the "Sellers"), three of whom will continue to be employed by InCon and will manage InCon's business. InCon is now a wholly owned subsidiary of the Company. In addition to the acquisition date cash purchase price, the sellers may also earn additional amounts based on the annual earnings before interest, taxes, depreciation, and amortization ("EBITDA") of InCon's toll processing and specialty product business during calendar years 2012 through 2016. The annual earn-out payments are determined based on a percentage of InCon's EBITDA which percentage ranges from five percent (5%) of the first $3.0 million of EBITDA to thirty percent (30%) of EBITDA in excess of $12.0 million. The annual earn-out payments, if any, will be estimated on a quarterly basis and paid subsequent to year end. The Company will record the estimated contractual obligation as compensation expense during each year as it is deemed probable that such amount will be payable. In addition, the earn-out payments are subject to certain reductions associated with future InCon capital expenditures and forfeitures based on termination of employment. Legal Contingencies On May 18, 2011, the Company's fishing vessel, F/V Sandy Point, was involved in a collision with a commercial cargo vessel, Eurus London. As a result of the collision, the Company's vessel sank and three Company crew members died. The Company has filed a limitation action under maritime law to limit its potential liability for the incident to $50,000, the value of the sunken vessel, in the U.S. District Court for the Southern District of Mississippi. Representatives of the three deceased crewmembers have filed lawsuits against the Company alleging dama