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Lease commitments
12 Months Ended
Dec. 31, 2016
Lease commitments:  
Lease commitments

Note 13 - Lease commitments

 

Operating Leases

 

Mentor currently rents approximately 2,000 square feet of office space under a one year lease in Ramona, California in San Diego County. Rent expense for the years ended December 31, 2016 and 2015 were $28,400 and $24,495, respectively.

 

WCI rents approximately 3,000 of office and warehouse space in Tempe, Arizona under an operating lease expiring in January 2018. Rent expense for the year ended December 31, 2016 and 2015 was $26,732 and $26,160, respectively.

 

WCI leases vehicles under a master fleet management agreement with initial terms of 4 years expiring through July 2020. Vehicle lease expense of $173,853 and $123,567 is included in cost of sales in the consolidated income statement for the years ended December 31, 2016 and 2015, respectively.

 

WCI has two small operating leases on office equipment entered into in 2015 with terms of 5 years expiring in 2020.

 

The approximate remaining annual minimum lease payments under the non-cancelable operating leases existing as of December 31, 2016 with original or remaining terms over one year were as follows:

 

Years ending

 

Rental

December 31,

 

expense

2017

$

161,019

2018

 

86,363

2019

 

58,260

2020

 

17,786

 

 

 

 

$

323,428