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COMMITMENTS
3 Months Ended
May 31, 2013
Notes to Financial Statements  
COMMITMENTS

Operating Leases

The Company leases its office and manufacturing facilities under a lease which expired in July, 2013. We entered into a 3-month extension to provide time to complete an analysis of future space requirements. We intend to enter into a new lease once that analysis is completed. The temporary lease provides for the payment of taxes and operating costs, such as insurance and maintenance in addition to the base rental payments. The lease is renewable for an additional three year term.

 

Aggregate minimum annual rental payments under the non-cancelable operating lease are as follows:

 

 Year ended February 28, 2014   $60,144 

 

Rent expense totaled $40,104 and $77,862 for the three months ending May 31, 2013 and 2012, respectively.