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8. Lease Commitments
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3 Months Ended |
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Mar. 31, 2013
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| Notes to Financial Statements | |
| 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 March 31, 2013 and March 31, 2012 were $6,947 and $9,432, respectively. The Company continues to occupy an office in San Diego on a month to month basis. 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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- Details
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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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