Quarterly report pursuant to sections 13 or 15(d)

RELATED PARTY TRANSACTIONS

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RELATED PARTY TRANSACTIONS
3 Months Ended
Mar. 31, 2012
Notes to Financial Statements  
RELATED PARTY TRANSACTIONS

 

5. RELATED PARTY TRANSACTIONS

 

The Company leases an office building and equipment from an entity owned by related parties on a month-to-month basis.  Rent expense amounted to $24,112 for each of the three months ended March 31, 2012 and 2011.

 

The Company maintains deposits and other accounts at a bank which is less than 5%-owned by related parties and where a stockholder is a member of the Board of Directors of the bank.