Note 8 – 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 and therefore rental expense is recognized by the Company on a straight line basis. During the three and nine months ended September 30, 2015 the Company expensed a total of $46,768 and $61,738 related to this land lease, respectively, which is included in the “General and Administrative” expense line item in the accompanying Statements of Operations. The Company expensed $14,969 related to the land lease during the three and nine months ended September 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 September 30, 2015, are as follows in the calendar years listed below.