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OPERATING LEASE COMMITMENTS
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12 Months Ended |
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Dec. 31, 2013
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| Notes to Financial Statements | |
| Note 13. OPERATING LEASE COMMITMENTS |
The Company leases certain office and industrial warehouse space in Lake Forest, California. The monthly rent is $3,025 for the first year and will increase to $3,300 for the second year.
The Company has an annual lease for a steel building and five acres of greenhouse space in Belvidere, New Jersey. The monthly rent is $13,000 for an annual amount of $156,000.
Net rent expense for the Company for the year ended December 31, 2013 was $54,408. |
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- Details
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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. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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