Annual report pursuant to Section 13 and 15(d)

Commitments and Contingencies

v2.4.0.8
Commitments and Contingencies
 12 Months Ended
Dec. 31, 2013
Commitments and Contingencies [Abstract]  
Commitments and Contingencies
Note 13 - Commitments and Contingencies
 
The Company currently leases office space in Garden City, NY,  and Warwick, RI and data centers in Westbury, NY and Waltham, MA.
 
The Company leases a data center in Westbury, NY on a month to month basis.  Monthly rent is $1,500, plus utilities and the lease is with the Chairman of the Company.
 
The Company leases space in a data center in Waltham, MA.  The lease calls for monthly payments under an annually renewable contract for space and services.  The payments are approximately $29,000 per month depending upon services used and the current contract expires June 30, 2014.
 
The lease for office space in Garden City, NY calls for escalating monthly payments ranging from $6,056 to $6,617 plus a portion of the operating expenses through June 2014.
 
Minimum obligations under these lease agreements are as follows:
 
For the year Ending December 31,:
      
2014
  
$
65,272
  
2015
    
27,888
  
2016
    
27,888
  
2017
    
29,384
  
2018
    
29,520
  
Thereafter
    
2,460
  
   
$
182,412
  
 
Rent expense for the years ended December 31, 2013 and December 31, 2012 was $151,693 and $188,721 respectively.