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- Commitments (Tables)
9 Months Ended
Sep. 30, 2012
At September 30, 2012, minimum

At September 30, 2012, minimum future lease payments under non-cancelable operating leases are as follows:

 

 

 

 

2012

$

132,460

2013

 

529,840

2014

 

529,840

2015

 

529,840

2016

 

529,840

Thereafter

 

3,311,503

 

$

5,563,323

 

 

 

The following is a schedule

The following is a schedule by year of future minimum payments required under these lease agreements.

 

 

 

     2012

$

8,121

 

 

     2013

 

38,471

 

 

     2014

 

6,767

 

 

Total payments

 

53,359

 

 

Less interest

 

(3,590)

 

 

Total principal

 

49,769

 

 

Less current portion

 

34,048

 

 

Long-term portion

$

15,721