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EXCEL - IDEA: XBRL DOCUMENT - DESTINY MEDIA TECHNOLOGIES INCFinancial_Report.xls
10-K - ANNUAL REPORT - DESTINY MEDIA TECHNOLOGIES INCform10k.htm
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EX-31.1 - SECTION 302 CERTIFICATION OF CHIEF EXECUTIVE OFFICER - DESTINY MEDIA TECHNOLOGIES INCexhibit31-1.htm
EX-31.2 - SECTION 302 CERTIFICATION OF CHIEF FINANCIAL OFFICER - DESTINY MEDIA TECHNOLOGIES INCexhibit31-2.htm
EX-23.2 - CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM - DESTINY MEDIA TECHNOLOGIES INCexhibit23-2.htm
EX-32.1 - SECTION 906 CERTIFICATION OF CHIEF EXECUTIVE OFFICER - DESTINY MEDIA TECHNOLOGIES INCexhibit32-1.htm
EX-32.2 - SECTION 906 CERTIFICATION OF CHIEF FINANCIAL OFFICER - DESTINY MEDIA TECHNOLOGIES INCexhibit32-2.htm
v2.4.0.6
COMMITMENTS
12 Months Ended
Aug. 31, 2012
COMMITMENTS [Text Block]

7. COMMITMENTS

The Company entered into a sub-lease agreement for its premises on September 15, 2010. It commenced on October 22, 2010 and will expire on October 30, 2013. The Company is committed to payments as followed:

    $  
       
2013   244,338  
2014   40,885  

During the year ended August 31, 2012 the Company incurred rent expense of $231,003 (2011: $232,512) which has been allocated between general and administrative expenses, research and development and sales and marketing on the statement of operations.

By a credit facilities agreement dated April 8, 2010 and amended June 17, 2011, the Company arranged for credit facilities with the Royal Bank of Canada which allows the Company to draw up to $454,000 ($450,000 CDN). These credit facilities consist of a revolving facility of $403,560 ($400,000 CDN) bearing interest at prime plus 3.5% and a commercial credit card facility to $50,440 ($50,000 CDN). Borrowings under the facilities are repayable on demand. As of August 31, 2012, no amount had been drawn on the line of credit (2011: $Nil) and the Company had available credit of $403,560 ($400,000 CDN) (2011: $396,675 ($400,000 CDN)) on the line of credit. Previously, the Company had issued a $103,230 ($100,000 AUD) letter of guarantee associated with the litigation described in Note 9(a), which was cancelled during the year ended August 31, 2012.