XML 48 R13.htm IDEA: XBRL DOCUMENT v2.4.0.6
OPERATING LEASES
12 Months Ended
Sep. 30, 2012
Leases of Lessee Disclosure [Text Block]

NOTE 8 - OPERATING LEASES


The Company leases two pieces of property to use as storage lots. One is leased under a seven-year agreement beginning March 1, 2007, for $4,802 based on the Consumer Price Index. The lease is scheduled to expire February 28, 2013.


The Company also leases a second lot located in Oceano, California at $2,933 per month. The lease has converted to a month-to-month lease; however, the lessor is considering a long-term renewal at this time.


The Company has a five-year lease obligation for a copier. Rental expense under this operating lease is $414 per month.


Future minimum lease payments under the first property lease and the obligation to lease equipment are as follows:


Year Ended September 30,

 

2013

$ 28,975

2014

4,965

2015

4,965

2016

4,965

2017

2,483

Thereafter

-

Operating Lease, Total

$ 46,353


Rent expense under these agreements was $94,778 and $94,610 for the years ended September 30, 2012 and 2011, respectively.