XML 50 R17.htm IDEA: XBRL DOCUMENT v2.4.1.9
NOTE 10 - COMMITMENTS
 12 Months Ended
Dec. 31, 2014
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Disclosure [Text Block]
NOTE 10 - COMMITMENTS

Operating Leases

Our main offices are located at 5 Regent Street, Livingston, NJ 07039 where we have 6,986 square feet of office space at a monthly rent of $7,400. The lease expires December 31, 2016. The Company has a lease, with a one-year extension, for office space at 6834 Buckley Road, North Syracuse, New York, at a monthly rent of $2,100.  The lease expires May 31, 2015.  The Company also leases 2,700 square feet of office space for sales and support in Skokie, Illinois with a monthly rent of $3,000. This lease expires April 30, 2018. The Company also leases 500 square feet for sales and support in Minneapolis, Minnesota with a monthly rent of $885 a month. This lease expires February 2016. The company leases 2,105 square feet of office space in Phoenix, AZ starting at $1,271 and escalating to $2,894 per month by the end of the term September 30, 2019.

Total rent expense under these operating leases for the year ended December 31, 2014 and 2013 was $197,100 and $153,000, respectively.

The following is a schedule of approximate future minimum rental payments for operating leases subsequent to the year ended December 31, 2014.

2015
 
$
152,511
 
2016
   
152,966
 
2017
   
68,892
 
2018
   
45,945
 
2019
   
26,046
 

Employment agreements

The Company has an Employment Agreement with Mark Meller, President and Chief Executive Officer of the Company, which began on September 15, 2003 and was extended on September 15, 2010 and which expires on September 15, 2017. As consideration, the Company agreed to provide Mr. Meller a 10% increase every year thereafter. The employment agreement with Mr. Meller also provides for a severance payment of three hundred percent (300%), less $100,000 of his gross income for services rendered to the Company in each of the five prior calendar years should his employment be terminated following a change in control, as defined in the employment agreement.