Operating Leases

12 Months Ended

Dec. 31, 2017

The Company leases approximately 7,200 square feet of office space that houses its principal executive offices and operations. Rental expense under the operating lease was approximately $197,300 and $158,200 for the years ended December 31, 2017 and 2016, respectively. The lease expires on April 30, 2018.

The Company assumed ongoing obligations of the Singular Payments' leased space in Nashville, TN and St. Augustine, FL to house their sales offices and operations. Rental expense under the operating leases was $25,236 for the year ended December 31, 2017.

The Company also leases select computer equipment over a 36 month period initiated in May, 2016. The lease expires in April, 2019. Rental expense under the operating lease was $72,000 for the year ended December 31, 2017 and $45,500 for the year ended December 31, 2016.

The future operating lease payments as December 31, 2017 are as follows:



Year ended December 31,
2018	$	125,400
2019	72,000
2020	28,000
2021	1,000