Quarterly report pursuant to Section 13 or 15(d)

12. COMMITMENTS AND CONTINGENCIES (Tables)

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12. COMMITMENTS AND CONTINGENCIES (Tables)
 6 Months Ended
Jun. 30, 2012
Commitments And Contingencies Tables  
Office Lease Obligations

Commitments for minimum rentals under non cancelable leases at June 30, 2012 are as follows:

 

2012 (Remainder of)   $ 195,521  
2013     402,948  
2014     414,263  
2015     426,399  
2016     169,156  
2017     174,098  
2018 and thereafter     410,179  
Total   $ 2,192,564  

 

Expected rent payments to be received under sublease agreement at June 30, 2012 are as follows:

 

2012 (Remainder of)   $ 64,348  
2013     130,942  
2014     134,872  
2015     138,919  
Total   $ 469,081  
Sales Tax

The following table sets forth the change in the sales tax accrual as of June 30, 2012 and December 31, 2011:

 

    June 30,  2012     December 31, 2011  
Balance, Beginning of year   $ 1,068,314     $ 776,671  
Collections     134,064       162,975  
Accruals     –       75,979  
Interest and penalties     40,000       89,020  
Payments     (9,406 )     (36,331 )
Balance at end of period   $ 1,232,972     $ 1,068,314