18. COMMITMENTS

Real Estate Lease:

The Company leases an office facility of 5,187 square feet in Gent, Belgium from an unrelated party pursuant to a nine year lease commencing September 1, 2008. at a base rent of €5,712 per month for the total location ($6,433 per month at March 31, 2015).

Secondly, the Company leases an office facility of 635 square feet in Brussels, Belgium from an unrelated party pursuant to a nine year lease commencing July 1, 2012 at a base rent of €969 per month for the total location ($1,050 per month at March 31, 2015).

Thirdly, the Company leases an office facility of 1,991 square feet in Rome, Italy to support the sales and marketing division of our veneer business, from an unrelated party pursuant a six year lease commencing July 1, 2011, at a base rent of € 6,500 per month for the total location ($8,969 per month at March 31, 2014) Due to an internal re-organization and in mutual agreement with the unrelated party, the rent agreement was stopped at March 31, 2014.

Real Estate Lease and All Other Leased Equipment:

Minimum monthly lease payments for real estate, and all other leased equipment are as follows based upon the conversion rate for the (Euro) at March 31, 2015:

March 31, 2015		154,430
March 31, 2016		122,156
March 31, 2017		58,925
March 31, 2018		17,902
After five years		34,241
Total:	$	387,654