Annual report pursuant to Section 13 and 15(d)

Commitments

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Commitments
12 Months Ended
Jun. 30, 2013
Commitments  
Commitments
10. Commitments In addition to the warehouse and office space leased from the Sheila Steiner Revocable Trust (see Note 8), the Company leases an additional warehouse facility from an unrelated third party under an operating lease expiring in December 2014.  Minimum future rental commitments for both leases approximate the following:  

 

Years ending June 30,    
     
2014   $ 174,000  
2015     66,200  
2016     —    
2017     —    
2018     —    
   Total   $ 240,200  

 

 

Rent expense under all leases aggregated approximately $182,000 and $175,700 for the years ended June 30, 2013 and 2012, respectively.

As of June 30, 2013, the Company had no outstanding letters of credit.

The Company, through its manufacturers, provides parts warranties for products sold. These warranties are mainly the responsibility of the manufacturer. As such, warranty related expenses are insignificant to the consolidated financial statements.