Note 7 – Omaha Land Lease Rent Expense

The Omaha facility land lease currently expires in 2033, subject to future renewal options of up to 50 years by the Company.  Under the terms of the land lease, annual rents increase 12.5% every fifth anniversary of the lease. The initial land lease increase will occur in April 2017. During the three months ended March 31, 2015 the Company expensed $14,970 related to this land lease, which is included in the “General and Administrative” expense line item in the accompanying Statement of Operations for the three months ended March 31, 2015.   No expense was incurred for the three months ended March 31, 2014.  The aggregate minimum cash payments to be made by the Company on the non-cancelable Omaha facility related land lease in effect as of March 31, 2015, are as follows in the calendar years listed below.