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Commitments
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Jun. 30, 2014
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| Commitments Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||
| Commitments |
Note 14 - Commitments The Company leases its facility in West Deptford, New Jersey under an operating lease with annual rentals of $130,200 plus common area maintenance (CAM) charges. The lease, which took effect on January 1, 2008, reduced the CAM charges allowing the Company to reach their own agreements with utilities and other maintenance providers. On January 7, 2013, the Company extended its lease agreement for a term of 7 years, expiring December 31, 2019. Under the terms of the lease, The Company will pay $132,000 per year.
Rent expense, including related CAM charges, were $40,290 and $80,665 for the three and six months ended June 30, 2014 and $37,005 and $74,883 for the three and six months ended June 30, 2013. |
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- Details
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- Definition
The entire disclosure for significant arrangements with third parties, which includes operating lease arrangements and arrangements in which the entity has agreed to expend funds to procure goods or services, or has agreed to commit resources to supply goods or services, and operating lease arrangements. Descriptions may include identification of the specific goods and services, period of time covered, minimum quantities and amounts, and cancellation rights. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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