Commitments and Contingencies |
9 Months Ended | ||||||||||||||||||||||||||||||||
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Sep. 30, 2015 | |||||||||||||||||||||||||||||||||
| Commitments And Contingencies Disclosure [Abstract] | |||||||||||||||||||||||||||||||||
| Commitments and Contingencies |
Operating Lease Commitment On May 30, 2014, the Company entered into a commercial lease for 2,387 square feet of office space in Norwood, MA. The lease commenced on July 1, 2014 and had a three year term. In August 2015, the lease was amended for the relocation of the Company into a new space within the existing building. The Company will be occupying 6,326 square feet under a five year term that is expected to commence in January 2016. The 2014 lease also required a standby letter of credit of $13,730 payable in favor of the landlord (See Note 3-Restricted Cash) which will increase to $36,375 under the lease amendment. Pursuant to the terms of the Company’s non-cancelable lease agreements in effect at September 30, 2015, the future minimum rent commitments are as follows for the years ended December 31:
Total rent expense for the three months and nine months ended September 30, 2015, was $14,024 and $41,472, respectively. Total rent expense for each of the three months and nine months ended September 30, 2014, was $8,100 and $21,825, respectively |