(9) CAPITAL LEASES AND OTHER OBLIGATIONS

On October 31, 2014, the Company entered into a Lease Termination Agreement (“LTA”) and new Lease Agreement (“LA”) with its landlord relating to the Company’s headquarters location in Lone Tree, Colorado, under which the Company reduced the amount of space leased at its headquarters. The following is a summary of the key terms of the LTA:

•Monthly rental payments of $43 from September 1, 2014 through December 31, 2014;

•The Company vacated the unleased portion of the property on or before December 31, 2014;

(9) CAPITAL LEASES AND OTHER OBLIGATIONS (continued)

•The existing lease terminated as of December 31, 2014;

•	The Company surrendered to the Landlord substantially all of the furniture and fixtures and leasehold improvements in the portion of the building vacated at no cost to the landlord; and

•	Effective upon termination of the existing lease (December 31, 2014), all amounts due to the landlord for deferred rent and any other charges were forgiven.

The following is a summary of the key terms of the new LA:

•The term of the LA is two years commencing on January 1, 2015 and to end, unless sooner terminated December 31, 2016;

•Fixed rental payments of $49 per month; and

•	The Company and landlord shall each have the right to terminate the lease at any time, without liability to the other, with six months prior written notice to the Company and three months written notice to the Landlord.

As a result of the above agreements, during the fourth quarter of 2014, the Company recorded a gain of $2,195, reflecting the foregiveness of the liability for deferred rent of $2,845, which was partially offset by the write-off of certain office furniture and fixtures, and leasehold improvements amounting to $650 which were surrendered to the landlord.

The Company also leases certain equipment under capital leases which expire on various dates through 2018. Imputed interest rates on the leases range from approximately 6% to 18%. At December 31, 2014, the total recorded cost of assets under capital leases was approximately $461. Accumulated depreciation related to these assets totals approximately $105.

As of December 31, 2014, future minimum lease payments under non-cancelable notes payable, operating and capital leases are as follows:

	Notes and Capital Leases			Operating Leases
2015	$	153		$	583
2016		115			583
2017		114			—
2018		79			—
Thereafter		18			—
Total future minimum lease payments		479		$	1,166
Less amount representing interest		(90	)
Present value of net minimum lease payments		389
Less current portion		(78	)
Notes payable and other obligations	$	311

Rent expense under all operating leases for 2014 and 2013 was approximately $1,158 and $1,716, respectively.