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Leases

12 Months Ended

Dec. 31, 2012

Note 7. Leases

The current facilities lease is for a term of five years terminating on October 31, 2013. The lease provides for initial annual rental payments of approximately $127,000, increasing each year to reach $150,000 in the final year of the lease. Total rental expense related to the Company’s headquarters location during the years ended December 31, 2012 and 2011 was $145,000 and $142,000, respectively.

Future minimum annual lease payments under these leases as of December 31, 2012 are:

Year	Operating Leases
	(in thousands)
2013	$	124
2014		--
2015		--
2016		--
2017		--
Total	$	124

- 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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