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Note L - Commitments

12 Months Ended

Dec. 31, 2013

Disclosure Text Block Supplement [Abstract]

NOTE L—COMMITMENTS

Operating Leases

The Company does not own any real estate but conducts operations from three leased premises. These non-cancelable operating leases expire at various dates through 2018. In addition to base rent, the Company pays for property taxes, maintenance, insurance and other occupancy expenses according to the terms of the individual leases.

Future minimum rental commitments of non-cancelable operating leases are approximately as follows:

Years ending December 31,
2014	$	142,944
2015		143,745
2016		147,726
2017		152,359
2018		103,825

	$	690,599

Rental expense was approximately $159,000 and $169,000 during 2013 and 2012, respectively.

- 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.

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