Commitments and Contingencies |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2018 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Commitments and Contingencies Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Commitments and Contingencies |
Note 6 - Commitments and Contingencies
Operating Leases
The Company currently leases two office spaces in Melville, NY, and one in Warwick, RI.
Location one in Melville calls for monthly payments of $8,382 with a lease terminating in August 31, 2019. Location two in Melville calls for monthly payments of monthly payments of $7,188.96 starting April, 2018, escalating to $8,333.97. The term of the lease is 5 years and 3 months and will end on July 31, 2023.
The lease for office space in Warwick, RI calls for monthly payments of $2,324 beginning February 1, 2015 which escalates to $2,460 on February 1, 2017. This lease commenced on February 1, 2015 and continues through January 31, 2019.
Minimum obligations under these lease agreements are as follows:
Rent expense for the three months ended March 31, 2018 and 2017 was $42,337 and $52,309, respectively. |
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