Capitalized lease obligations - The Company leases vehicles under non-cancelable capital lease agreements with a cost of $167,363 and $90,888 (accumulated amortization of $52,608 and $25,508) as of October 31, 2011 and 2010, respectively. Amortization expense for vehicles under non-cancelable lease agreements amounted to $27,100 and $22,401 in the years ended October 31, 2011 and 2010, respectively. The following is a schedule, by year, of future minimum lease payments under the capitalized leases together with the present value of the net minimum lease payments at October 31, 2011: Twelve months ending October 31, Amount 2012 $ 39,132 2013 39,132 2014 28,885 2015 16,775 2016 16,725 Total future minimum lease payments 140,649 Less: Amount of imputed interest (17,270 ) Present value of future minimum lease payments 123,379 Current portion of obligation under capital leases (31,142 ) Long-term portion $ 92,237 Operating facilities - The Company conducts its administrative operations in office facilities which are leased under three different rental agreements. In February 2007, the Company entered into a lease agreement with an affiliate of the chief executive officer for the headquarters and laboratory testing facilities in Dorado, Puerto Rico. The lease agreement is for a term of five years with monthly rental payments of $18,750, $19,687, $20,672, $21,705 and $22,791 for each of the years under the lease. The initial lease agreement term ends in January 2012, and was renewed under the automatic five year-renewal option, which provides yearly increments of five percent. The agreement also requires the payment of utilities, property taxes, insurance and a portion of expenses incurred by the affiliate in connection with the maintenance of common areas. Effective November 2011, the Company renegotiated with the landlord the lease for the US office facilities located in Plymouth, Pennsylvania. This three-year term lease was due to expire in February 2013 and had $2,100 in monthly rental payments. Under the renegotiat