Deferred Rent |
3 Months Ended |
|---|---|
Mar. 31, 2016 | |
| Deferred Revenue Disclosure [Abstract] | |
| Deferred Rent |
8. Deferred Rent
On August 7, 2015, the Company signed a lease for 21,697 square feet of mixed office and manufacturing space in Alameda, CA. The term of the lease is 76 months plus 6 months pre commencement date for tenant improvement construction. The total cost of the lease is $3,070,688 which is being amortized over 82 months. As of March 31, 2016 and December 31, 2015, the landlord had incurred $947,446 and $869,262, respectively, in tenant improvements. The tenant improvements cost has been included in owned assets and deferred rent and is being amortized over the life of the lease. Net deferred rent expense for the three months ending March 31, 2016 was $77,941. The March 31, 2016 short term deferred rent balance of $91,459 is included in current liabilities whereas the December 31, 2015 balance of negative $38,382 was included in prepaid expenses and other current assets. The remaining liability of $1,097,412 and $1,071,129 at March 31, 2016 and December 31, 2015, respectively, is classified as long term deferred rent. |