Effective Navidea relocated its Dublin, Ohio headquarters from Blazer Parkway (“Blazer”) to a smaller space at Bradenton Avenue. The Company concurrently executed a sublease arrangement for the Blazer space (the “Sublease”) because there is early termination provision in the Blazer lease. The Blazer lease and the Sublease end simultaneously in

 

In accordance with current accounting guidance, the Company initially recorded a total liability of million, which was equal to the fair value of the remaining payments due under the Blazer Lease, net of the fair value of the payments to be received by the Company under the Sublease, and including a finder’s fee. The Company also recorded a loss on contract termination of and a loss on disposal of assets, primarily leasehold improvements and furniture and fixtures, related to the Blazer space of Both losses were included in selling, general and administrative expenses for the year ended

 

A summary of the changes in our terminated lease liability during the -month period ended is presented below:

 

		Terminated Lease Liability
Total liability, January 1, 2018		$	695,307
Changes in estimated future payments			(43,393	)
Payments under Blazer lease			(349,290	)
Receipts from subtenant			273,869
Accretion of liability			27,909
Total liability, September 30, 2018		$	604,402