COMMITMENTS

12 Months Ended

Dec. 31, 2011

Notes to Financial Statements

NOTE 9. COMMITMENTS

The Company has entered in a number of consulting agreements with various consultants that could require the Company to pay up to $71,500 in consulting fees in 2011.

The Company has various operating leases for copiers, telephone and computer equipment that range from 1 to 5 years in length. Rental expenses for these operating leases were $77,956 and $158,705 for the years ended December 31, 2011 and 2010, respectively. Minimum future rentals under these agreements at December 31, 2011 are as follows: 

Year
2012	$	86,789
2013		50,398
2014		1,857
	$	139,044

The Company maintains employment agreements with certain key management. The agreements provide for minimum base salaries, eligibility for stock options and performance bonuses and severance payments.