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Commitments and Contingencies Note
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3 Months Ended |
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Jun. 30, 2013
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| Commitments and Contingencies Note |
8. COMMITMENTS AND CONTINGENCIES:
Lease Commitments - On July 18, 2012, the Company entered into a thirteen month lease for office space for our corporate headquarters located in Greenwood Village, Colorado. Under the terms of the lease agreement, the Company leased approximately 2,244 square feet of general office space. The lease term commenced on July 23, 2012 and continues through August 31, 2013.
Total rent expense for the three and six months ended June 30, 2013 was $8,819 and $17,639, respectively. Rent expense for the three and six months ended June 30, 2012 was $4,248 and $6,732, respectively.
The Companys remaining commitment under its current lease term for 2013 is approximately $5,000.
Purchase Commitments - As of June 30, 2013, the Company has a commitment to its manufacturer to purchase equipment totaling approximately $194,000. |
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- Definition
The entire disclosure for commitments and contingencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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