Leases

We lease certain office space and equipment. As leases expire, it can be expected that, in the normal course of business, certain leases will be renewed or replaced. Rent expense from continuing operations was approximately $1,181,000 and $824,000 for the years ended December 31, 2012 and 2011, respectively.

Minimum lease payments under non-cancelable operating leases as of December 31, 2012 are:



2013	$	1,067,871
2014	537,501
2015	547,967
2016	45,749
2017	—
Total	2,199,088

Subsequent to December 31, 2012 and not contemplated in the above table, we signed an amendment allowing us to terminate our Clearwater office lease for $615,000, which was paid during the first quarter of 2013. As a result, the lease will now end on March 31, 2013, resulting in a reduction of rent of $135,273 each quarter through November 2013. We also entered into an agreement to lease office space in Conway, Arkansas, which was prepaid during the first quarter of 2013. This agreement is for two years in the total amount of $193,200. First Orion Corp., the lessor of this space, is owned by a director and shareholder of Inuvo.