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7. Leases

12 Months Ended

Dec. 31, 2013

The Company leases approximately 54,000 square feet of industrial space in West Melbourne, Florida. The original lease, which expired on June 30, 2005, was renewed for an additional five years. In December 2008 and September 2013, we executed the first and second amendments, respectively, to the lease, each of which reduces the amount of the monthly base rent payment. The second amendment extends the expiration date to June 30, 2020. Rental, maintenance and tax expenses for this facility were approximately $477 and $475 in 2013 and 2012, respectively. The Company also leases 8,100 square feet of office space in Lawrence, Kansas, to accommodate a portion of the Company’s engineering team. The lease, which expired on December 31, 2009, was renewed for an additional five years with an expiration date of December 31, 2014. Rental, maintenance and tax expenses for this facility were approximately $92 in 2013 and 2012, respectively.

The following table summarizes future minimum rental payments under these leases as of December 31, 2013:

2014	$	557
2015		465
2016		465
2017		465
2018		465
	$	2,417

- Definition

The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing.

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