Quarterly report pursuant to Section 13 or 15(d)

12. COMMITMENTS AND CONTINGENCIES (Tables)

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

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

 

2012 (Remainder of)   $ 98,223  
2013     402,948  
2014     414,263  
2015     426,399  
2016     169,156  
2017     174,098  
2018 and thereafter     410,179  
Total   $ 2,095,266  

 

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

 

2012 (Remainder of)   $ 32,331  
2013     130,942  
2014     134,872  
2015     138,919  
Total   $ 437,064  
Sales Tax
    September 30, 2012    

 

December 31, 2011

 
Balance, beginning of year   $ 1,068,314     $ 776,671  
Collections     217,350       162,975  
Provisions     (132,126 )     75,979  
Interest and penalties     20,574       89,020  
Payments     (15,684 )     (36,331 )
Balance at end of period   $ 1,158,428     $ 1,068,314