NOTE 14 - COMMITMENTS AND CONTINGENCIES Lease Commitments The Company leases eight main office spaces under non-cancelable operating lease agreements through January 31, 2020. The Company also leases farmland under a non-cancelable operating lease agreement through April 26, 2041. Most of those operating lease payments are scheduled on a quarterly basis. The future minimum rental payments are as follows: Twelve months ending March 31: 2018 $ 628,975 2019 344,828 2020 297,798 2021 211,942 2022 211,942 Thereafter 4,044,561 Total $ 5,740,046 Rent expense totaled $ 491,591 and $ 187,335 for the nine months ended March 31, 2017 and 2016, respectively. Rent expense totaled $ 167,418 and $ 60,745 for the three months ended March 31, 2017 and 2016, respectively. In addition, the Company sublets the above-mentioned farmland to a third party under a non-cancelable operating lease agreement through May 31, 2020 . The future minimum sublease rental income to be received is as follows: Twelve months ending March 31: 2018 $ 211,942 2019 211,942 2020 211,942 2021 35,324 Total $ 671,150 Sublease rental income totaled $ 158,957 and $ 168,804 for the nine months ended March 31, 2017 and 2016, respectively. Sublease rental income totaled $ 52,284 and $ 55,044 for the three months ended March 31, 2017 and 2016, respectively. Legal Contingencies From time to time, the Company is a party to various legal actions arising in the ordinary course of business. The Company accrues costs associated with these matters when they become probable and the amount can be reasonably estimated. Legal costs incurred in connection with loss contingencies are expensed as incurred. The Company's management does not expect any liability from the disposition of such claims and litigation individually or in the aggregate would have a material adverse impact on the Company's consolidated financial position, results of operations and cash flows.