Saker Aviation Services Inc. (SKAS)

[RNsidersbuying]

They have renewal options. But why tell shareholders the lease is terminating WITHOUT adding any verbage that they will try to remedy the situation?


NOTE 12 – Commitments and Contingencies

Operating Leases

The Company leases a facility under the terms of a Fixed Base Operator’s Lease and Operating Agreement with the Wilkes-Barre/Scranton International Airport. The agreement has a term of ten years, expiring August 21, 2013, with two five-year renewal periods. The agreement requires payment of monthly rents of $6,250 plus additional payments based on certain of the Company’s revenues. These include per-gallon fees for certain fuel sales and commissions on landing, parking, tie-down and other types of fees charged by the Company to its aviation customers. [/I]