13. COMMITMENTS

3 Months Ended

Mar. 31, 2016

Notes to Financial Statements

13. COMMITMENTS

The Company is committed to minimum rental payments for property and premises aggregating approximately $323,286 over the term of two leases, the last expiring on December 31, 2020.

Commitments in the next five years are as follows:

2016	$	54,966
2017	$	65,280
2018	$	66,480
2019	$	67,680
2020	$	68,880