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Commitments and Contingencies
3 Months Ended
Sep. 30, 2014
Notes to Financial Statements  
Commitments and Contingencies

4. Commitments and Contingencies

 

Office Lease

 

On January 1, 2014 the company executed a lease agreement with Cummings Properties for the company’s office of 270 square feet at 100 Cummings Center, Suite 247-C, Beverly, MA 01915. The lease is for a term of five years from January 1, 2014 to December 30, 2018 and requires monthly payments of $357 ($4,284 annually for each of the five years, total aggregate of $21,420).