Quarterly report pursuant to Section 13 or 15(d)

Lease Obligations

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Lease Obligations
3 Months Ended
Mar. 31, 2016
Lease Obligations [Abstract]  
LEASE OBLIGATIONS
5. LEASE OBLIGATIONS

 

On October 1, 2011 the Company began leasing operating facilities under an agreement expiring on March 30, 2018.  Future minimum monthly lease payments under the agreement are currently $12,598 and increase 3% in October of each year.  Prepaid expenses and deposits include a security deposit equal to $12,275.  Aggregate maturities of lease obligations are as follows:

 

  2016       121,492  
  2017       166,435  
  2018       127,614  
          415,541  

 

Total rent expense under these operating type leases for the three months ended March 31, 2016 and 2015 was $38,928 and $37,795, respectively.