Annual report pursuant to Section 13 and 15(d)

14. COMMITMENTS AND CONTINGENCIES (Tables)

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14. COMMITMENTS AND CONTINGENCIES (Tables)
12 Months Ended
Dec. 31, 2012
Commitments And Contingencies Tables  
Office Lease Obligations

Commitments for minimum rentals under non cancelable leases at December 31, 2012 are as follows:

 

2013   $ 402,951  
2014     414,267  
2015     426,399  
2016     169,155  
2017     174,099  
2018 and thereafter     410,184  
Total   $ 1,997,055  

 

Expected rent payments to be received under sublease agreement at December 31, 2012 are as follows:

 

2013   $ 130,942  
2014     134,872  
2015     138,919  
Total   $ 404,733  
Sales Tax

The following table sets forth the change in the sales tax accrual during the years ended December 31:

 

    2012     2011  
             
Balance, Beginning of year   $ 1,068,314     $ 776,671  
Collections     277,374       162,975  
Provisions     (119,255 )     75,979  
Interest and penalties     32,696       89,020  
Payments     (70,996 )     (36,331 )
Balance, End of year   $ 1,188,133     $ 1,068,314