OPERATING LEASES

3 Months Ended

Mar. 31, 2014

NOTE 13 - OPERATING LEASES

For the three months ended March 31, 2014 and 2013, total rent expense under leases amounted to $17,727 and $0, respectively, and is included in general and administrative expense. At March 31, 2014, the Company was obligated under various non-cancelable operating lease arrangements for property as follows:

2014	$	54,234
2015		74,637
2016		31,605
	$	160,476

- Definition

The entire disclosure for operating leases of a lessor. This may include a general description of lessor's leasing arrangements for operating leases, including the basis on which contingent rental payments are determined, the existence and terms of renewal or purchase options and escalation clauses, restrictions imposed by lease arrangements, such as those concerning dividends, additional debt, and further leasing, rent holidays, rent concessions, or leasehold improvement incentives and unusual provisions or conditions.

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