Operating Leases

12 Months Ended

Dec. 31, 2012

Note 13 - Operating Leases

The Company leases certain of its facilities under operating leases. The minimum rental commitments under non-cancellable operating leases as of December 31, 2012 are as follows:

		Total				2013				2014				2015				2016				2017				Thereafter
Operating Leases		$	3,288,069			$	1,130,851			$	909,323			$	617,619			$	466,109			$	164,167			$	-

On January 21, 2012 the Company signed a lease with 1585 Holdings, LLC (a sister company of NTR), for 4500 square feet of office space in North Dallas, to be used as the Company's new corporate headquarters, allowing for the consolidation of SBT corporate operations with legacy DGSE operations. The Company will receive free rent during Fiscal 2013, and will pay $7,500 per month beginning in January of 2014, through the termination of the current lease in December of 2015. The Company expects to move into the space in April of 2013.

Rent expense for Fiscal 2012 and Fiscal 2011 was approximately $1,087,329 and $317,386, respectively, excluding amounts related to discontinued operations. The higher expense in the current year is due to the acquisition of SBT, and to additional new store openings.

- Definition

The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing.

+ References+ Details