Annual report pursuant to Section 13 and 15(d)

Note 15 - Leases

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Note 15 - Leases
12 Months Ended
Dec. 31, 2017
Notes to Financial Statements  
Leases of Lessee Disclosure [Text Block]
15
.
Leases
 
We currently lease approximately
5,000
square feet of office space at
4995
Bradenton Avenue, Dublin, Ohio, as our principal offices. The current least term expires in
June 2020,
at a monthly base rent of approximately
$3,000.
We
also lease approximately
2,000
square feet of office space at
560
Sylvan Avenue, Englewood Cliffs, New Jersey. The current lease term expires in
March 2018,
at a monthly base rent of approximately
$3,000.
 
In addition, we
currently lease approximately
25,000
square feet of office space at
5600
Blazer Parkway, Dublin, Ohio, formerly our principal offices. The current lease term expires in
October 2022,
at a monthly base rent of approximately
$26,000
during
2018.
In
June 2017,
the Company executed a sublease arrangement for the Blazer space, providing for monthly sublease payments to Navidea of approximately
$39,000
through
October 2022.
 
As of
December 31, 2017,
the future minimum lease payments for the years ending
December 31
are as follows:
 
   
Operating
Leases
 
2018
  $
328,117
 
2019
   
326,533
 
2020
   
315,594
 
2021
   
304,201
 
2022
   
253,339
 
Thereafter
   
 
Total future minimum lease payments
  $
1,527,784
 
 
Total rental expense was
$139,000,
$187,000
and
$217,000
for the years ended
December 31, 2017,
2016
and
2015,
respectively. See Note
1
(l).