Cryo-Cell International, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Leases

Leases

12 Months Ended

Nov. 30, 2011

NOTE 10 – LEASES.

During April 2004, the Company entered into a ten-year lease for its new corporate headquarters in Oldsmar, Florida. On June 7, 2006, the Company entered into a lease amendment, which amends the Company's lease for its principal offices in Oldsmar, Florida. The original lease covered approximately 17,600 square feet of space. Under the amendment, the Company leased an additional 9,600 square feet of space at the same location. All leases include provisions for escalations and related costs. The Company records rental expense under the straight-line method over the term of the lease. Rent charged to operations was $274,215 and $278,848 for the fiscal years ended November 30, 2011 and 2010, respectively and is included in cost of sales and marketing, general and administrative expenses in the consolidated statements of operations.

The future minimum rental payments under these operating leases are as follows:


Fiscal Year Ending November 30,	Rent
2012	$	313,781
2013	$	323,255
2014	$	333,064
2015	$	28,048

- Definition

The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing.

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