XML 25 R12.htm IDEA: XBRL DOCUMENT v3.5.0.2
LEASES
3 Months Ended 12 Months Ended
Mar. 31, 2016
Dec. 31, 2015
Leases [Abstract]    
LEASES

NOTE 6 - LEASES

 

Operating Lease - The Company leases office space in Pittsburgh, Pennsylvania for $4,667 on a month to month basis.  The Company may further be obligated for a lease for space in Los Angeles, California for $27,872 a month through February 2017, $28,710 a month through February 2018, $29,581 a month through February 2019 and $30,573 a month through June 2019.

 

The future minimum lease payments for non-cancelable operating leases having remaining terms in excess of one year as of March 31, 2016 are as follows:

 

       
Year ending March 31:     Lease Payments
2017      285,806
2018      320,658
2019      224,565
2020      12,970
Thereafter      -
Total Minimum Lease Payment   $  843,999

 

Lease expense charged to operations was $51,321 and $62,184 for the three months ended March 31, 2016 and 2015, respectively.

NOTE 6 - LEASES

 

Operating Lease - The Company leases office space in Pittsburgh, Pennsylvania for $4,667 on a month to month basis.  The Company may further be obligated for a lease for space in Los Angeles, California for $27,099 a month though February 2016, $27,872 a month through February 2017, $28,710 a month through February 2018, $29,581 a month through February 2019 and $30,573 a month through June 2019.

 

The future minimum lease payments for non-cancelable operating leases having remaining terms in excess of one year as of December 31, 2015 are as follows:

 

       
Year ending December 31:     Lease Payments
2016     283,422
2017     293,346
2018     300,596
2019     23,956
Thereafter     -
Total Minimum Lease Payment   $ 901,320

 

Lease expense charged to operations was $256,092 and $159,137 for the periods ended December 31, 2015 and 2014, respectively.