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8. Lease Commitments
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6 Months Ended |
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Jun. 30, 2013
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| Leases [Abstract] | |
| Lease Commitments |
Note 8: 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 the three months ended June 30, 2013 and 2012 were $1,254 and $9,431, respectively, and for the six months ended June 30, 2013 and June 30, 2012 were $8,201 and $18,863, respectively. Warehouse space of approximately 2,000 square feet in Rogers, Minnesota is rented on a month to month basis. In November 2012, the Company signed a six month lease to occupy three offices in San Diego, California, which terminated as of April 30, 2013.
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- Definition
The entire disclosure for significant arrangements with third parties, which includes operating lease arrangements and arrangements in which the entity has agreed to expend funds to procure goods or services, or has agreed to commit resources to supply goods or services, and operating lease arrangements. Descriptions may include identification of the specific goods and services, period of time covered, minimum quantities and amounts, and cancellation rights. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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