Note 7 - Rent Obligation

3 Months Ended

Mar. 31, 2018

Notes to Financial Statements

Leases of Lessee Disclosure [Text Block]

NOTE

7

– RENT OBLIGATION

On

November 22, 2017,

the Company signed a

second

amendment to its lease last amended on

January 28, 2013.

The lease as amended has a

three

-year term effective

February 1, 2018

ending

January 31, 2021.

The Company leases

5,773

square feet at this location, of which

2,945

square feet is used for office space and

2,828

is used for manufacturing. The Company lease is effective through

January 31, 2021.

It is expected that this space will be adequate for the Company’s current office and manufacturing needs. Rent expense was

$17,244

and

$16,895

for the

three

months ended

March 31, 2018

and

March 31, 2017,

respectively.

The Company’s rent obligation for the next

four

years is as follows:

2018	$	29,250
2019	$	40,000
2020	$	42,000
2021	$	3,000