- Definition

The cumulative difference between the rental payments required by a lease agreement and the rental income or expense recognized on a straight-line basis, or other systematic and rational basis more representative of the time pattern in which use or benefit is granted or derived from the leased property, expected to be recognized in income or expense over the term of the leased property, by the lessor or lessee, respectively. Such receivable is reduced by allowances attributable to, for instance, credit risk associated with a lessee.

+ References+ Details

LEASE OBLIGATION (Details Narrative) (USD $)	Jun. 30, 2015	Dec. 31, 2014 sqft	Jun. 30, 2014
Corporate Office
Square Feet		823
Base monthly rent	$ 1,235		$ 1,200
Future minimum rental payments		7,407
Operations House
Future minimum rental payments		$ 19,800