Commitments and Contingencies

12 Months Ended

Dec. 31, 2015

Commitments and Contingencies [Abstract]

NOTE 9: COMMITMENTS AND CONTINGENCIES

Leases

Future minimum lease payments under leases with initial or remaining non-cancelable lease terms in excess of one year as of December 31, 2015 are as follows:

Year ending December 31,	Lease Obligations
2016	$	499
2017		530
2018		480
2019		459
2020		384
Total future minimum obligations		61
	$	2,413

Rent expense totaled $448 and $690 for the years ended December 31, 2015 and 2014, respectively, and is included in General and Administrative expenses. During 2015, the Company closed its offices in Minnetonka, MN and New York, NY resulting in a charge of $371 to record the loss on the lease, reversal of previously recognized deferred rent, and write off all related leasehold improvements.

In November 2014, the Company sublet approximately 9,000 sq. ft of space at its Minnetonka, MN office at an annual rate of $11 per square foot subject to annual increases of 2.5%. Because the rental rate was above market at the time of the merger, the Company recorded an adjustment of $180 to reduce the expense to market over the remaining term of the lease. This accrual was completely amortized during the year ended December 31, 2015 as the lease for the Minnetonka facility is no longer being used.

Our CEO was awarded 4,951,557 performance shares with a grant date to be determined upon certain conditions being satisfied.

Litigation

See Note 17, Subsequent Events.