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Operating Lease
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12 Months Ended |
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Dec. 31, 2011
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| Operating Lease | |
| Operating Lease |
NOTE 12 – OPERATING LEASE On April 25, 2011, the Company entered into a 3 year escalating lease agreement for 1,352 square feet commencing July, 2011. The monthly rental rate is $1,800, $1,920 and $2,040 for the lease years ending July 31, 2012, 2013 and 2014, respectively. The Company incurred $1,664 in leasehold improvements prior to occupancy and paid a security deposit of $1,800. The Company terminated its prior lease on June 30, 2011 which required monthly lease payment of $1,278 per month. On September 19, 2011, the Company entered into a 1 year sublease for 2,000 square feet in Las Vegas, Nevada. The sublease commenced on October 15, 2011 and requires monthly payments of $3,000. A security deposit of $3,000 was paid to the landlord. Rent expense as of December 31, 2011 and 2010 was $22,311 and $15,336, respectively. |