NOTE 5: OPERATING LEASES

The Company leases certain automobiles and office equipment under operating leases ranging in length from thirty-six to sixty months. Lease payments charged to operations amounted to $74,885 (2012) and $77,571 (2011), respectively.

At December 31, 2012, future minimum payments required under leases with terms greater than one year are as follows:


Years Ending December 31,	Operating Leases
2013	$	53,127
2014		27,475
2015		12,246
2016		2,816
Total Minimum Lease Payments	$	95,664

- Definition

The entire disclosure for operating leases of a lessor. This may include a general description of lessor's leasing arrangements for operating leases, including the basis on which contingent rental payments are determined, the existence and terms of renewal or purchase options and escalation clauses, restrictions imposed by lease arrangements, such as those concerning dividends, additional debt, and further leasing, rent holidays, rent concessions, or leasehold improvement incentives and unusual provisions or conditions.

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