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Leases

12 Months Ended

Dec. 31, 2011

(10)

Leases

The Company is obligated under long-term real estate leases for corporate office space expiring in October 2016. In addition, the research lab space at CET is leased through 2016, with an option to extend the lease through July 2021. The Company also subleases a portion of the space under these leases. Rent expense is recognized over the expected term of the lease, including renewal option periods, if applicable, on a straight-line basis. Rent expense for 2011, 2010 and 2009 was approximately $0.8 million, $0.6 million and $0.6 million, respectively, and sublease income was approximately $0.4 million, $0.3 million and $0.2 million. Future minimum sublease income under noncancelable sublease operating leases is approximately $0.8 million through October 2016. Future minimum lease payments under noncancelable operating leases (with initial or remaining lease terms in excess of one year) are:

		September 30,
Year ending December 31:
2012	$	860,279
2013		886,187
2014		912,693
2015		940,057
2016 and thereafter		769,352

Total minimum lease payments	$	4,368,568

- 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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