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OPERATING LEASES (Tables)

12 Months Ended

Dec. 31, 2014

Rent Expense Recognized Under Operating Leases

		2014			2013			2012
Rent Expense Recognized Under Operating Leases		$	2,075,919		$	2,163,281		$	1,955,626

Schedule of future minimum rental payments under operating lease agreements

Year ending December 31, 2015	$	1,658,737
Year ending December 31, 2016		1,073,187
Year ending December 31, 2017		915,081
Year ending December 31, 2018		885,008
Year ending December 31, 2019		698,827
Year ending December 31, 2020 and thereafter		83,291

Total	$	5,314,131

- Definition

Tabular disclosure of a lessee's leasing arrangements including: (1) the basis on which contingent rental payments are determined, (2) the existence and terms of renewal or purchase options and escalation clauses, (3) restrictions imposed by lease arrangements, such as those concerning dividends, additional debt, and further leasing, (4) rent holidays, rent concessions, or leasehold improvement incentives and unusual provisions or conditions. Disclosure may also include the specific period used to amortize material leasehold improvements made at the inception of the lease or during the lease term. Additionally, for operating leases having initial or remaining noncancelable lease terms in excess of one year: (a) future minimum rental payments required as of the date of the latest balance sheet presented, in the aggregate and for each of the five succeeding fiscal years, (b) the total of minimum rentals to be received in the future under noncancelable subleases as of the date of the latest balance sheet presented, and (c) for all operating leases, rental expense for each period for which an income statement is presented, with separate amounts for minimum rentals, contingent rentals, and sublease rentals. Rental payments under leases with terms of a month or less that were not renewed need not be included.

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