XML 42 R31.htm IDEA: XBRL DOCUMENT v3.5.0.2
NOTE 15 - COMMITMENTS AND CONTINGENCIES (Tables)
6 Months Ended
Jun. 30, 2016
Commitments and Contingencies Disclosure [Abstract]  
Operating Leases of Lessee Disclosure [Table Text Block] The Company has entered into office leases at various locations as follows:

Date
 
Term (Years)
 
Location
 
Expiration
09/2012
 
5
 
NJ
 
08/31/2016
06/2013
 
5
 
MI
 
10/31/2018
07/2014
 
3
 
GA
 
08/31/2017
06/2015
 
7
 
IL
 
12/31/2022
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] The Company also added facilities (in CA, FL and NY) on a month-to-month basis. As of June 30, 2016, the Company’s future minimum lease payments are as follows:

Year Ending June 30,
 
Amount
 
2017
 
$
162,871
 
2018
   
122,521
 
2019
   
59,533
 
2020 and beyond
   
28,662
 
 
 
$
373,587
 
Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block] The following is a schedule of future minimum lease payments as of June 30, 2016.

Year ending June 30,
     
2017
 
$
167,114
 
2018
 
$
83,558
 
Total minimum lease payments
 
$
250,672
 
Less: amount representing interest
 
$
(11,334
)
 
       
Present value of net minimum lease payments, presented as current and non-current obligations under capital leases of $157,199 and $83,052, respectively.
 
$
239,338