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Commitments and Contingencies
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Dec. 31, 2013
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| Notes to Financial Statements | |||||||||||||||||||||||||||||||||||||||||
| Commitments and Contingencies |
Litigation
As of the date of this report, there are no pending legal proceedings to which we or our properties are subject, except for routine litigation incurred in the normal course of business.
Operating Lease
The Company has a lease agreement for 6,730 square feet, as amended, for its office facilities in Chandler, AZ through December 2015. Monthly rental payments, excluding common area maintenance charges, are $11,958 in 2014 and $12,357 in 2015. The Company has month-to-month lease agreements for its office facilities in San Diego, CA and North Huron, MI.
The minimum lease payments for the Chandler, AZ facilities that are required over the next five years are shown below.
Rent expense for was $166,802 and $179,179 for the years ended December 31, 2013 and 2012.
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- Details
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- Definition
The entire disclosure for commitments and contingencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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