Operating Leases

6 Months Ended

Jun. 30, 2013

Note 6 Operating Leases

The Company leases approximately 25,500 square feet of office space at two locations. The following table summarizes the total lease and operating expenses for the three and six months ended June 30, 2013 and 2012:


	2013		2012
Three Months Ended	$	164,351	$	167,872
Six Months Ended		340,239		338,251

The approximate future minimum lease payments under the operating leases are as follows:


Six Months Remaining In
2013	2014		2015		2016		Thereafter
$228,000	$	454,000	$	401,000	$	234,000	$	—

In addition to the above rent, the Company will also be responsible for normal operating expenses of the properties. Such operating expenses were approximately $9.69 per square foot in 2012, on a combined basis, and are expected to be approximately $9.80 per square foot in 2013.

- Definition

The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing.

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