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COMMITMENTS AND CONTINGENCIES
 9 Months Ended
Sep. 30, 2016
Commitments and Contingencies Disclosure [Abstract]  
COMMITMENTS AND CONTINGENCIES
13. COMMITMENTS AND CONTINGENCIES
 

The Company has entered into distribution agreements with liquidated damages in case the Company cancels the distribution agreements without cause. Cause has been defined in various ways. It is management’s belief that no such agreement has created any liability as of September 30, 2016.

 

The Company entered into an office lease with a related party (see note 10) effective October 2015. The monthly rent amounts to $8,809 per month and the lease terminates in October 2020. Future annual minimum payments required under operating lease obligations at September 30, 2016 are as follows:

 

Future Minimum Lease Payments

 

Year ending December 31,      
2016   $ 27,629  
2017   $ 113,461  
2018   $ 116,720  
2019   $ 120,078  
2020   $ 102,455  
Total   $ 480,343