Commitments and Contingencies

9 Months Ended

Sep. 30, 2011

Commitments and Contingencies Disclosure [Abstract]

Note 14. Commitments and Contingencies

In July 2009 the Company consolidated and renegotiated the two Miami leases for SkyPostal Networks, Inc., and PuntoMio into one Miami facility. The new lease is a non-cancellable operating lease that expires on June 2015. Rent expense under the new lease was $29,905 and $90,051, for the three and nine months ended September 30, 2011, respectively.

The future minimum rental payments under these leases for the five years subsequent to September 30, 2011, are as follows:


2012	$	59,082
2013		66,716
2014		75,738
2015		61,488
Total	$	263,024

Litigation

The Company may become a party to various claims, legal actions and complaints arising in the ordinary course of business. In the opinion of management, there were no matters that would have a material adverse effect on the Company’s consolidated financial statements taken as whole as of September 30, 2011.

- Definition

The entire disclosure for commitments and contingencies.

+ References

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+ Details

SkyShop Logistics, Inc. 10-Q