|
Note 7: Lease Commitments
|
12 Months Ended |
|---|---|
|
Dec. 31, 2011
|
|
| Leases of Lessee Disclosure [Text Block] |
Note
7: Lease Commitments
The
Company has no capital leases subject to the Capital Lease
guidelines in the FASB Accounting Standards
Codification. Rental expenses incurred for
operating leases during 2011 and 2010 were $82,469 and
$146,979. The Company had two operating leases for
office space and one rental agreement for warehouse
space. The San Diego, California office is
approximately 2,162 square feet and had a lease which expired
in October, 2010. The Company continues to occupy
the space on a month to month basis. The Del Mar,
California office was approximately 1,415 square feet and had
been subleased. Both the lease and sublease on the
Del Mar property expired July 31, 2011. The
warehouse space of approximately 2,000 square feet in Rogers,
Minnesota is rented on a month to month basis.
|