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Commitments and Contingencies
12 Months Ended
Sep. 30, 2011
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies

8.         Commitments and Contingencies

 

Leases

 

The Company leases its facilities under an operating lease, which requires the Company to pay certain maintenance and operating expenses, such as taxes, insurance, and utilities. Rent expense under the various leases was $239,300 for both fiscal 2011 and 2010.

 

A summary of future minimum payments required under non-cancelable operating leases with terms in excess of one year, follows:

 

 

 

 

 

 

Amount

 

 

 

 

 

 

Fiscal years ending:

 

 

 

 

September 30, 2012

 

 

$248,100 

 

September 30, 2013

 

 

257,300 

 

September 30, 2014

 

 

242,800 

 

 

 

 

 

$748,200 

 

Contingencies

 

The Company is subject to legal proceedings and claims that arise in the ordinary course of business. In the opinion of management, the amount of ultimate liability with respect to such actions will not materially affect the financial position or results of operations of the Company.