COMMITMENTS AND CONTINGENCIES

3 Months Ended

Mar. 31, 2012

Commitments And Contingencies

COMMITMENTS AND CONTINGENCIES

NOTE M – COMMITMENTS AND CONTINGENCIES

The Company leases administrative offices in Boca Raton, Florida pursuant to a forty-five month non-cancelable operating lease expiring in 2013.  The lease stipulates, among other things, base monthly rents of $5,443 plus the Company’s share of monthly estimated operating expenses of $3,500 and sales tax.  The lease contains one renewal option for an additional two-year period.

The rental expense related to this lease totaled $28,459 and $28,851 for the three months ended March 31, 2012 and 2011, respectively.

As of March 31, 2012, future minimum rental payments are as follows:

Twelve Months Ending March 31,
2013	$	111,725
2014		23,301
Total	$	135,026