Quarterly report pursuant to Section 13 or 15(d)

Commitments and Contingencies

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Commitments and Contingencies
6 Months Ended
Jun. 30, 2017
Commitments And Contingencies Disclosure [Abstract]  
Commitments and Contingencies

Note 12. Commitments and Contingencies

Operating Lease

The Company leases its principal executive offices in Newark, California, under a non-cancelable operating lease which expires in 2021. The Company recognizes rent expense on a straight-line basis over the expected lease term. The difference between cash payments required and rent expense is recorded as deferred rent. Rent expense for the Company's facilities was $0.1 million for each of the three and six months ended June 30, 2016.  Rent expense for the Company’s facilities was $0.1 million and $0.2 million for the three and six months ended June 30, 2017, respectively.  

The following is a schedule of future minimum lease payments under the non-cancelable operating lease at June 30, 2017 (in thousands):

 

2017 (remainder of year)

 

$

140

 

2018

 

 

336

 

2019

 

 

346

 

2020

 

 

357

 

2021

 

 

305

 

Total

 

$

1,484

 

 

Contingencies

In the normal course of business, the Company may receive inquiries or become involved in legal disputes regarding various litigation matters. In the opinion of management, any potential liabilities resulting from such claims would not have a material adverse effect on the Company's financial position or results of operations.