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Operating Leases

12 Months Ended

Dec. 31, 2012

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, 2012:


2013	$	467,386
2014		452,602
2015		435,909
2016		435,909
2017		435,909
Thereafter		349,113

Total	$	2,576,828

Rent expense amounted to approximately $407,600, $380,800 and $34,000 in 2012, 2011 and 2010, 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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