COMMITMENTS AND CONTINENGENCIES

12 Months Ended

Dec. 31, 2011

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINENGENCIES

13. COMMITMENTS AND CONTINENGENCIES

At December 31, 2011, the Company was obligated under an operating lease for certain office space for approximately $12,000 per month. Commitments for this lease, which expires on September 19, 2013, are as follows:

2012	$	147,000
2013	$	105,000
	$	252,000

Rent and occupancy expense was $149,536 and $70,115 for 2011 and 2010, respectively. The gross rent and occupancy expense for 2010 was $146,755 which was offset by $76,640 in shared occupancy revenue from Saltus Technologies, LLC, the entity which purchased digiTicket in February 2010. Saltus shared office space with the Company from February through October, 2010.

As part of the CEO Steve Signoff’s employee agreement, the Company agreed to pay $2,000 a month for one year for the rental of a condominium in Tulsa, Oklahoma, which will be counted as part of his Cash Salary. At December 31, 2011, the Company is obligated at pay $2,000 per month. Commitments for this lease, which expires July 31, 2012, is $14,000.