Annual report pursuant to Section 13 and 15(d)

Commitments and Contingencies (Tables)

v3.3.1.900
Commitments and Contingencies (Tables)
12 Months Ended
Dec. 31, 2015
Schedule of Contractual Commitments of the non-cancellable Portion

The Company’s contractual commitments of the non-cancellable portion under theses operating leases as of December 31, 2015 are as follows:

 

     Total  

2016

   $ 318,186   

2017

     188,009   

2018

     191,959   

2019

     195,909   

2020

     199,859   

Thereafter

     238,371   
  

 

 

 

Total minimum lease payments

   $ 1,332,293   
  

 

 

 

License Agreement [Member]  
Schedule of minimum license fee commitment

The table below shows the minimum annual license fee commitments under the two agreements as of December 31, 2015:

 

     License
payments
 

2016

   $ 87,248   

2017

     87,248   

2018

     87,248   

2019

     87,248   

2020

     87,248   

Thereafter

     512,582   
  

 

 

 

Total minimum license payments

   $ 948,822