Annual report pursuant to Section 13 and 15(d)

Commitments and Contingencies (Tables)

v3.7.0.1
Commitments and Contingencies (Tables)
12 Months Ended
Dec. 31, 2016
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, 2016 are as follows:

 

     Total  

2017

   $ 391,042  

2018

     209,590  

2019

     195,909  

2020

     199,859  

2021

     203,809  

Thereafter

     34,563  
  

 

 

 

Total minimum lease payments

   $ 1,234,772  
  

 

 

 
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, 2016:

 

     License
payments
 

2017

   $ 84,124  

2018

     84,124  

2019

     84,124  

2020

     84,124  

2021

     84,124  

Thereafter

     410,105  
  

 

 

 

Total minimum license payments

   $ 830,725