|12 Months Ended|
Dec. 31, 2018
NOTE 13 – LEASES
Manoa Innovation Center
The Company entered into an automatically renewable month-to-month lease for office space on August 13, 2010. Under the terms of this lease, the Company must provide a written notice 45 days prior to vacating the premises. Total rent expense under this agreement as amended was $39,302 and $29,690, for the years ended December 31, 2018 and 2017, respectively.
In January 2018, the Company entered into a vehicle lease arrangement with a rental company for three vehicles. The terms of the leases require monthly payments of $1,619 for three years. These leases convert to month-to-month leases in January 2021 unless terminated. Total lease expense under this agreement was $21,196 for the year ended December 31, 2018.
Future minimum lease payments are as follows for the years ended December 31:
The entire disclosure for lessor entity's leasing arrangements for operating, capital and leveraged leases.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef