RVBD » Topics » 5. Commitments

These excerpts taken from the RVBD 8-K filed Apr 30, 2009.

5. Commitments

The Company leases certain equipment and facilities under operating and capital lease arrangements, and is obligated to pay monthly rent through January 2009.

Rent expense for the nine months ended September 30, 2008 and 2007 was approximately $492,750 and $340,466, respectively. In connection with the facilities lease agreement, the Company has placed in escrow $56,009 as a deposit on the facility. This amount is included in restricted cash as of September 30, 2008 and December 31, 2007 in the accompanying balance sheets.


5. Commitments

The Company leases certain equipment and facilities under operating and capital lease arrangements, and is obligated to pay monthly rent through 2008. The minimum future rental payments under the lease agreements are approximately as follows:

 

     Operating    Capital  

Fiscal year:

     

2008

   $ 508,820    $ 4,500  

2009-2012

     —        —    
               
   $ 508,820      4,500  
         

Less amount representing interest

        (81 )
           

Present value of minimum lease payments

        4,419  

Less current portion

        (4,419 )
           

Long-term portion

      $ —    
           

Rent expense for the years ended December 31, 2007 and 2006 was approximately $536,000 and $512,000, respectively. In connection with the facilities lease agreement, the Company has placed in escrow $51,330 as a deposit on the facility at December 31, 2007 and 2006. These amounts are included in restricted cash in the accompanying balance sheets.


EXCERPTS ON THIS PAGE:

8-K (2 sections)
Apr 30, 2009
Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki