v2.4.0.8

Schedule of Finance Obligations (Tables)

12 Months Ended

Dec. 31, 2013

Schedule of Finance Obligations:

Schedule of Finance Obligations

In connection with the sale-leaseback transaction, the Company also entered into an agreement with the buyer, pursuant to which the Company leases from the buyer a portion of the premises sold for a term of 15 years. The Company’s remaining future minimum payments under the 15 year lease are as follows:

Year ending December 31, 2013
2014		459,564
2015		459,564
2016		459,564
2017		459,564
2018		483,132
Thereafter		4,795,976
Total future minimum financing obligation payments		7,117,364
Less interest		(2,825,497)
Present value of future minimum financing obligation payments		$	4,291,867

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- Definition

Tabular disclosure of long-lived, depreciable assets that are subject to a lease meeting the criteria for capitalization and are used in the normal conduct of business to produce goods and services. Examples may include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software.

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