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OPERATING LEASE COMMITMENTS
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9 Months Ended |
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Sep. 30, 2012
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| Notes to Financial Statements | |
| Note 12. OPERATING LEASE COMMITMENTS |
The Company leases certain office and industrial warehouse space on a month-to-month basis.
The terms of the month to month lease provide for a rental fee of $5,000 per month through April 15, 2012. Beginning on April 15, 2012 the month-to-month rent was increased to $6,300. The Company moved from its location from Oakland, CA. On July 9, 2012 the Company entered into a two year lease for certain office and 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. Net rent expense for the Company for the nine months ended September 30, 2012 was $45,821. |
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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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