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EXCEL - IDEA: XBRL DOCUMENT - COMMAND SECURITY CORPFinancial_Report.xls
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EX-99.1 - EXHIBIT 99.1 - COMMAND SECURITY CORPv316114_ex99-1.htm
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v2.4.0.6
Commitments
12 Months Ended
Mar. 31, 2012
Commitments

14. Commitments

 

Lease

 

We are obligated under various operating lease agreements for office space, equipment and auto rentals. Rent expense under operating lease agreements approximated $2,171,583 and $2,145,274, for the fiscal years ended March 31, 2012 and 2011, respectively.

 

We lease certain equipment and vehicles under agreements that are classified as capital leases. Most equipment leases have purchase options at the end of the original lease term. Cost and related accumulated depreciation of leased capital assets included in furniture and equipment at March 31, 2012 are $875,082 and $821,761 and at March 31, 2011 are $875,082 and $772,801, respectively.

 

There are no future minimum payments under long-term non-cancelable capital lease agreements. The future minimum payments under long-term non-cancelable operating lease agreements are as follows:

 

        Operating  
        Leases  
           
Year ending:   March 31, 2013   $ 1,531,269  
    March 31, 2014     1,228,056  
    March 31, 2015     719,782  
    March 31, 2016     268,545  
    March 31, 2017 and thereafter     1,494,582  
             
Total       $ 5,242,234