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Operating Leases

12 Months Ended

Dec. 31, 2011

8. Operating Leases

The Company leases several operating facilities, vehicles and equipment under non-cancelable operating leases. The Company accounts for operating leases on a straight line basis over the lease term. Future minimum lease payments consist of the following at December 31, 2011:


2012	$	386,535
2013		386,101
2014		371,317
2015		354,624
2016		354,624
Thereafter		561,488

Total	$	2,414,689

Rent expense amounted to approximately $380,804, $34,000 and $46,000 in 2011, 2010 and 2009, respectively.

- 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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