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EX-23.1 - PASSUR Aerospace, Inc.ex23-1.htm
EX-10.19 - PASSUR Aerospace, Inc.ex10-19.htm
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10-K - PASSUR Aerospace, Inc.t306990.htm
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v2.4.0.6
8. Operating Leases of Lessee Disclosure
12 Months Ended
Oct. 31, 2012
Notes  
8. Operating Leases of Lessee Disclosure

 

8. Leases

 

The Company’s headquarters, located in Stamford, Connecticut, are subject to a lease through January 31, 2018, at an average annual rental rate of $224,000. The Company’s software development and manufacturing facility, located in Bohemia, New York, is subject to a lease through October 31, 2015, at an average annual rental rate of $122,000. These leases provide for additional payments of real estate taxes and other operating expenses over the base amount in the rental agreement. Other short-term operating leases are included below. All other operating leases are under a month-to-month arrangement. Effective May 1, 2012, the Company entered into a one-year agreement to sublease space to Field Point Capital Management Company, owned 100% by G.S. Beckwith Gilbert, the Company’s significant shareholder and Chairman, for 1,300 square feet of office space at an annual rental rate of $52,000, which is the same rate paid by the Company. In fiscal year 2012, the Company received payments of $27,000 from such sublease. 

 

 

         

Contractual obligations under operating leases

Fiscal Year Ended October 31:                          

 

 

 

 

 

 2013

 

$    354,000

 2014

 

340,000

 2015

 

351,000

 2016

 

228,000

 2017

 

233,000

 Thereafter

 

59,000

Total minimum contractual obligations

 

$  1,565,000