SUBSEQUENT EVENTS

9 Months Ended

Sep. 30, 2012

SUBSEQUENT EVENTS [Abstract]

SUBSEQUENT EVENTS

Note 9 – Subsequent Events

On October 24, 2012, the Company entered into a 66-month Office Lease for 5,806 square feet of office space in downtown Ft. Lauderdale, Florida.  The lease calls for escalating base rent from $17.25 to $20.00 per square foot, plus an escalating allocated share of operating costs estimated from $12.55 to $16.02 per square foot over the lease term.  The agreement provides for a total of six months' rent abatement in the first 15 months of the term, and termination at the Company's discretion at the end of the 42nd month for a fee of $100,000.  The lease required a $50,000 security deposit and first month's rent upon contract execution.  Under the terms of the lease, the amount of the security deposit will be reduced by $15,000 each, after months 36 and 49.  The Company plans to relocate its corporate headquarters from Sunrise, Florida to the new location in January, 2013.