General form of registration statement for all companies including face-amount certificate companies

COMMITMENTS (Tables)

v2.4.0.6
COMMITMENTS (Tables)
 9 Months Ended
Sep. 30, 2012
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]

The lease has been extended, in accordance with its terms, through September 14, 2014. Future minimum lease payments under this non-cancelable lease are approximately as follows:

 

Years ended December 31,        
2012   $ 126,000  
2013     123,000  
2014     94,000  
2015     —  
Thereafter     —  
    $ 343,000  
Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block]

The following table provides the estimated future minimum rental payments under all capital leases together with the present value of the net minimum lease payments as of December 31, 2011:

 

    Minimum
lease
payments		     Less interest     Present value
of net
minimum
lease
payments		  
2012   $ 2,608     $ 373     $ 2,235  
2013     2,608       211       2,397  
2014     1,739       45       1,694  
    $ 6,955     $ 629     $ 6,326
Schedule of Capital Leased Assets [Table Text Block]

The equipment recorded under capitalized leases is included in fixed assets as of December 31: 

 

    2011     2010  
             
Office equipment   $ 10,973     $ 10,973  
Less accumulated amortization     (5,123 )     (2,928 )
    $ 5,850     $ 8,045