Annual report pursuant to Section 13 and 15(d)

Leases

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Leases
12 Months Ended
Dec. 31, 2016
Leases [Abstract]  
Leases

We lease office space in Ohio under an operating lease that expires in October 2022. Beginning in March 2017, we also lease office space in New Jersey under an operating lease that expires in March 2018.

 

As of December 31, 2016, the future minimum lease payments for the years ending December 31 are as follows:

 

   

Operating

Leases

  2017     $ 277,946  
  2018       284,246  
  2019       290,734  
  2020       297,405  
  2021       304,201  
  Thereafter       253,339  
        $ 1,707,871  

 

Total rental expense was $187,000, $217,000 and $357,000 for the years ended December 31, 2016, 2015 and 2014, respectively.