6. Commitments and Contingencies |
12 Months Ended | ||||||||||||||||||
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Dec. 31, 2015 | |||||||||||||||||||
| Commitments And Contingencies | |||||||||||||||||||
| 6. Commitments and Contingencies |
Operating Leases
The Company leases facilities under long-term operating lease agreements through May 2017. Rent expense was $100,914 and $99,994 for the years ended December 31, 2015 and 2014, respectively.
The future minimum rental payments to be made under long-term operating leases are as follows:
The above minimum lease payments reflect the base rent under the lease agreements. However, these base rents can be adjusted each year to reflect the Companys proportionate share of increases in the buildings operating costs and the Companys proportionate share of real estate tax increases on the leased property. |
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- References No definition available.
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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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