Annual report pursuant to Section 13 and 15(d)

Lease Commitments

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Lease Commitments
12 Months Ended
Dec. 31, 2016
Lease Commitments [Abstract]  
LEASE COMMITMENTS
11. LEASE COMMITMENTS

 

The Company leases its store facilities under operating leases ranging from $900 to $5,600 per month. The following is a schedule of future minimum rental payments required under the terms of the operating leases as of December 31, 2016:

 

  Year Ending December 31   Amount  
  2017   $ 476,182  
  2018     479,089  
  2019     437,745  
  2020     369,841  
  2021     332,937  
  Thereafter     81,162  
      $ 2,176,956  

 

Rent expense under all operating leases for the year ended December 31, 2016 and 2015 was $306,115 and $105,269, respectively.