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COMMITMENTS

12 Months Ended

Dec. 31, 2017

Commitments Abstract

COMMITMENTS

7. COMMITMENTS

The Company leases an office and warehouse facility under a non-cancelable operating lease which expires in April, 2022. The aggregate future commitment under this agreement is as follows:

Year ending December 31,
2018			$	1,679,465
2019				1,720,750
2020				1,763,275
2021				1,807,074
2022				602,358
			$	7,572,922

Rent expense for the years ended December 31, 2017, 2016 and 2015 was $1,608,701, $1,608,701 and $1,608,701, respectively.

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- Definition

The entire disclosure for significant arrangements with third parties, which includes operating lease arrangements and arrangements in which the entity has agreed to expend funds to procure goods or services, or has agreed to commit resources to supply goods or services, and operating lease arrangements. Descriptions may include identification of the specific goods and services, period of time covered, minimum quantities and amounts, and cancellation rights.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 440
-URI http://asc.fasb.org/topic&trid=2144648

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