Operating Leases

12 Months Ended

Dec. 31, 2018

The Company leases approximately 6,000 to 10,535 square feet of office space for its executive offices and operations. Rental expense under the operating lease was approximately $121,809 for the year ended December 31, 2018. The lease expires on July 31, 2024.

Previously, the Company leased approximately 7,200 square feet of office space for its principal executive offices and operations. Rental expense under the operating lease was approximately $88,096 and $197,300 for the years ended December 31, 2018 and 2017, respectively. The lease expired on April 30, 2018.

The Company leases approximately3,794 square feet of office space for its sales offices and operations in Nashville, Tennessee. Rental expense for the year ended December 31, 2018 was $93,424. The lease expires on April 30, 2023.

Previously, 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 $15,018 and $25,236 for the years ended December 31, 2018 and 2017, respectively.

The Company also leased select computer equipment for a period of 36 months beginning in May, 2016. The lease expires in April, 2019. Rental expense under the operating lease was $76,000 for the year ended December 31, 2018 and $72,000 for the year ended December 31, 2017.

The future operating lease payments as December 31, 2018 are as follows:



Year ended December 31,
2019	$	314,000
2020	338,000
2021	338,000
2022	345,000
Thereafter	405,000