Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Jun. 30, 2011
Disclosure Text Block Supplement [Abstract]
Commitments Contingencies and Guarantees [Text Block]	Note 7 – Commitments and Contingencies Premise Lease Obligations We previously leased office space for our corporate offices and our PET imaging center operations. In concert with the termination of our PET imaging operations, in 2008 we negotiated the premature termination of all of such leases, with the exception of the premise lease for our former operations in Forest Hills, New York and Jacksonville, Florida, both of which were assigned in 2008 to third parties that operated medical imaging centers at such facilities and who paid the landlord directly. As of June 30, 2011, and through the date of this report, we have not been notified of any default under such leases. Legal Proceedings In the normal course of business, we may become subject to lawsuits and other claims and proceedings. Such matters are subject to uncertainty and outcomes are not predictable with assurance. Management is not aware of any pending or threatened lawsuits or proceedings which would have a material effect on our financial position, liquidity, or results of operations other than as follows. On September 26, 2008, we commenced an action against Azad K. Anand, MD and a number of entities owned and/or controlled by him (collectively, the “Anand Defendants”) in the Supreme Court, State of New York, County of New York (the “Action”). The Action seeks damages against the Anand Defendants for various breaches and defaults of a number of different agreements between the parties relating to the operations of our PET imaging center in East Setauket, New York, as well as certain allegedly improper actions and omissions of the Anand Defendants in connection therewith. A counter-claim was filed against us in the Action, but we believe it to be without merit and have contested such claim. The action is on-going and there can be no assurance as to its outcome. Limited Guaranty We formerly owned an 80% equity interest in P.E.T. Management of Queens LLC (the “Queens LLC”), through our wholly owned subsidiary, Premier P.E.T. Imaging International, Inc. (“Premier”), which managed a PET imaging center in Forest Hills, New York (the “Queens Center”). In February 2008, Premier sold its equity interest in the Queens LLC to an entity owned by a former employee of the Company (the “Queens Purchaser”). In connection with that sale, the Queens LLC assumed the Company’s obligations under the capital lease financing documents (the “Financing Documents”), between the Company and General Electric Capital Corp. (“GECC”) pursuant to which GECC financed the PET/CT imaging equipment, ancillary medical equipment and leasehold improvements at the Queens Center. As a condition of such sale, GECC required the Company to execute a limited guaranty to GECC (the “Limited Guaranty”) pursuant to which the Company guaranteed $1,000,000 of the then approximately $1,700,000 indebtedness under the Financing Documents for a period of 24 months. In connection therewith and also as a condition of such sale, the Queens Purchaser agreed to indemnify the Company against any losses it incurred under the Limited Guaranty (the “Purchaser Indemnity”) and assumed our obligations under the premise lease for the Queens Center. In April 2009 we were advised by counsel for GECC that the Queens Purchaser had failed to make certain payments, when due, under the Financing Documents and that unless such default was cured, GECC would exercise its rights to accelerate the balance due under the Financing Documents of approximately $1,600,000 and seek to recover from us the $1,000,000 maximum amount due under the Limited Guaranty. We promptly notified GECC that we were unable to honor such Limited Guaranty and GECC did not pursue us in connection therewith. However, as a result of the default, we recorded the Limited Guaranty obligation on our consolidated balance sheet under liabilities of discontinued operations as of the first quarter of 2009. The default was not cured and in June 2009 GECC brought a legal action against Queens LLC in an attempt to recover the amount due to it under the Financing Documents. We were not named as a party to such action. In March 2010, GECC repossessed the PET/CT imaging equipment from Queens LLC and entered into a stipulation of settlement with it in full and final satisfaction of all obligations under the Financing Documents. As a result thereof, there is no further liability of the Company under the Limited Guaranty. Accordingly, the obligation is no longer included as a liability of discontinued operations as of March 31, 2010. We recorded a gain of $1,000,000 for the year ended December 31, 2010 pursuant to the termination of the Company’s obligation under the Limited Guaranty as part of income (loss) from discontinued operations. The Queens Center ceased operations in March 2010 and the Queens LLC abandoned the premises in Forest Hills, New York as of March 31, 2010. As of the date of this Report, we have not been notified of any default under the premise lease which, subsequent to the sale of the Queens LLC in February 2008, had been paid by the Queens Purchaser directly to the landlord.

SAGEMARK COMPANIES LTD 10-Q