Annual report pursuant to Section 13 and 15(d)

OPERATING LEASE COMMITMENTS

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OPERATING LEASE COMMITMENTS
12 Months Ended
Dec. 31, 2016
Leases [Abstract]  
NOTE 16. OPERATING LEASE COMMITMENTS

The Company leases certain business facilities under operating lease agreements that specify minimum rentals. Many of these have renewal provisions. The Company’s net rent expense for the years ended December 31, 2016, 2015 and 2014 was $515,413, $501,449 and $100,400, respectively.

 

Future minimum lease payments under non-cancelable operating leases having an initial or remaining term of more than one year are as follows:

 

Year Ending December 31  

Scheduled

Payments

 
       
2017   $ 1,522,311  
2018     1,545,893  
2019     1,479,234  
2020     1,452,645  
2021     1,497,038  
2022 and Thereafter     3,944,331  
Total Future Minimum Lease Payments   $ 11,441,452