NOTE 13  COMMITMENTS AND CONTINGENCIES Leases The Company entered into several operating lease agreements for facilities and equipment. Terms of certain lease arrangements include renewal options, escalation clauses, payment of executory costs such as real estate taxes, insurance and common area maintenance. The landlord has filed a security interest against the assets of the Company. In July 2013, the Company amended its facility lease to extend the term of the lease until July 31, 2016. Approximate annual future minimum lease obligations under non-cancelable operating lease agreements as of December 31, 2015 are as follows: Year ending December 31, 2016 $ 43,830 Rent expense was $131,257 and $128,136 for the years ended December 31, 2015 and 2014, respectively. Revenue Share Agreement On March 10, 2014, the Company entered into a revenue sharing agreement (the Agreement) with Global Stem Cells, Group, LLC and its subsidiaries whereby both parties will participate in marketing for obtaining patients and provide physician training for stem cell treatments under the names of Regenestem and Stem Cell Training, respectively. In addition, each party will be responsible for selling equipment and kit to existing and previous customers. Profits are divided on a fifty/fifty basis with distribution within 10 days of the accounting for patients and physician training and 30 day with sales of equipment and kits. In November 2014, the Company terminated the Agreement. In consideration of Global Stem Cell Group, LLCs participation, the Company issued an aggregate of 8,000 warrants to purchase the Companys common stock for four years at $21.70 per share with 2,000 warrants vesting 90 days from the effective date, 2,000 vesting on each anniversary date for three years. At termination of the revenue share agreement, the Company issued an aggregate of 4,000 warrants to purchase the Companys common stock. During the year ended December 31, 2014, the Company charged $54,146 to current period operations. Because of the termi