6. Commitments and Contingencies

12 Months Ended

Dec. 31, 2015

Commitments And Contingencies

6. Commitments and Contingencies

Operating Leases

The Company leases facilities under long-term operating lease agreements through May 2017.  Rent expense was $100,914 and $99,994 for the years ended December 31, 2015 and 2014, respectively.

The future minimum rental payments to be made under long-term operating leases are as follows:

Year ending December 31,:	2016	$	105,300
	2017		44,414
Total minimum rent payments		$	149,714

The above minimum lease payments reflect the base rent under the lease agreements.  However, these base rents can be adjusted each year to reflect the Company’s proportionate share of increases in the building’s operating costs and the Company’s proportionate share of real estate tax increases on the leased property.