The company has a lease for its office
rent. The payment is $2,300 per month through March 30, 2011. On April 1, 2011 a new lease began, which ended on March 31, 2012.
This lease has been extended an additional six months ending September 30, 2012. The payment continues to be $2,000 per month for
the new lease term. Rent expense for the nine months ending September 30, 2012 and 2011 was $18,000 and $18,900 respectively.