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 and six months ended June 30, 2015 the Company expensed a total of $14,970 related to this land lease, which is included in the “General and Administrative” expense line item in the accompanying Statement of Operations. No expense was incurred related to this land lease during the three and six months ended June 30, 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 June 30, 2015, are as follows in the calendar years listed below.