Quarterly report pursuant to Section 13 or 15(d)

Deferred Rent

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Deferred Rent
9 Months Ended
Sep. 30, 2015
Deferred Revenue Disclosure [Abstract]  
Deferred Liabilities

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 5 months pre commencement date for tenant improvement construction. The total cost of the lease is $3,070,688 which is being amortized over 81 months. Deferred expense for the three months ending September 30, 2015 was $74,895.

 

The future minimum payments related to this lease are as follows as of September 30, 2015:

 

2015   $ -  
2016     312,437  
2017     477,334  
2018     492,088  
2019     507,710  
Thereafter     1,281,119  
Total minimum lease payments   $ 3,070,688