ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

12 Months Ended

Dec. 31, 2011

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES [Text Block]

6. ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

Accrued expenses consist of the following:

		At December 31,
		2011		2010
Accrued payroll expense	$	244,666	$	245,160
Accrued property taxes		984,651		473,543
Other accrued liabilities		86,757		175,686
Total	$	1,316,074	$	894,389

As of December 31, 2011, Other current liabilities of $147,634, that are not included in accrued expenses above, are primarily comprised of $100,000 in related party notes payable to Mr. Ron Hirsch, Chairman of the Company’s Board of Directors, and Mr. Stephen Seymour, a Director of the Company, and $38,172 in deferred revenue.