Quarterly report pursuant to Section 13 or 15(d)

Commitments and Contingencies

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Commitments and Contingencies
6 Months Ended
Jun. 30, 2016
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies

7. COMMITMENTS AND CONTINGENCIES

 

Operating Leases

 

In June 2015, the Company entered into an facility operating lease agreement for its office which provides for monthly rent of $6,700 through June 25, 2016. In June 2016, the Company moved to a new facility and entered into a new facility operating lease agreement for its office which provided for monthly rent $3,130 through June 2017.

 

The Company had total rent expense for the six months ended June 30, 2016 and 2015 of $42,474 and $111,808, respectively, and three months ended June 30, 2016 and 2015 of $22,374 and $62,158, respectively.