NOTE 14 - COMMITMENTS AND CONTINGENCIES

Lease Commitments

The Company leases nine main office spaces under non-cancelable operating lease agreements through December 10, 2020. The Company also leases farmland under a non-cancelable operating lease agreement through April 26, 2041. Most of those operating lease payments are scheduled on a quarterly basis. The future minimum rental payments are as follows:

Twelve months ending September 30:

2018	$	640,936
2019		449,057
2020		288,379
2021		222,137
2022		215,885
Thereafter		4,011,857
Total	$	5,828,251

Rent expense totaled $128,456 and $99,839 for the three months ended September 30, 2017 and 2016, respectively.

In addition, the Company sublets the above-mentioned farmland to a third party under a non-cancelable operating lease agreement through May 31, 2020. The future minimum sublease rental income to be received is as follows:

Twelve months ending September 30:

2018	$	209,888
2019		209,888
2020		143,923
Total	$	563,699

Sublease rental income totaled $53,971 and $53,998 for the three months ended September 30, 2017 and 2016, respectively.

Legal Contingencies

On May 16, 2017, Bonwick Capital Partners, LLC (“Plaintiff”) commenced a lawsuit (Case No. 1:17-cv-03681-PGG) against the Company in the United States District Court for the Southern District of New York. Plaintiff alleges that the Company entered into an agreement with Plaintiff (the “Agreement”), pursuant to which Plaintiff was to provide the Company with financial advisory services in connection with the Company’s initial public offering in the United States. Plaintiff alleges that the Company breached the Agreement and seeks money damages up to $6 million. The Company believes that these claims are without merit and intends to vigorously defend itself.