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LEASES
 3 Months Ended
Mar. 31, 2016
Notes to Financial Statements  
Note 6 - LEASES

The Company conducts its operations from an office located in Chicago, Illinois for which beginning in February 2014, we paid rent of approximately $710 per month for our office through December 31, 2014. Effective January 1, 2015, the monthly rent expense is $730, which has been paid through December 31, 2015. The lease expired as of November 30, 2015, however, the Company has negotiated and entered into a new lease that commenced as of May 1, 2016. Rent expense for the three months ended March 31, 2016 and 2015, was $0 and $2,906, respectively.

 

The offices of Amplerissimo are located in Cyprus for which we paid approximately $110 per month under a one year lease which expired in July 2013 and was renewed through July 2015, whereupon rent continued to be paid by the Company on a month to month basis. Rent expense for the three months ended March 31, 2016 and March 31, 2015 was $330 and $330, respectively.

 

The offices of SkyPharm are located in Greece, Thessaloniki, for which we paid approximately €4,480 ($4,941) per month under a six year lease that commenced September 2014. In December 2015, the lease was revised to include an additional rental of the first floor at a rate of €829 ($914) per month. Rent expense for the three months ended March 31, 2016 and March 31, 2015 was €15,375 ($16,957) and €12,975 ($14,640) respectively.