Lease Obligations |
9 Months Ended | |||||||||||||||
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Sep. 30, 2017 | ||||||||||||||||
| Notes to Financial Statements | ||||||||||||||||
| Note 6 - Lease Obligations |
The Company occupies three suites at an executive office facility on a month to month basis at a rate of $1,555 plus usage charges per month. Our laboratory and product development facility consists of approximately 3,971 square feet of space leased under a multi-year contract which was extended in September 2016 at a rate of $3,781 per month and expires on November 30, 2017. For the three and nine months ended September 30, 2017, the Company expensed $18,900 and $44,583, respectively for rent. For the three and nine months ended September 30, 2016, the Company expensed $18,421 and $46,271, respectively for rent. The Company’s lease rent obligation is as follows:
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