Commitments and Contingencies

12 Months Ended

Dec. 31, 2016

Commitments and Contingencies [Abstract]

Commitments and Contingencies Disclosure [Text Block]

15. Commitments and Contingencies

Operating Lease Commitments

The Company entered into property and equipment leasing arrangements that expire at various times between April 2017 and September 2027, with optional renewal periods. See Note 17 for additional information regarding a new facility lease agreement signed after December 31, 2016. Minimum lease payments range from $1,000 to $28,000 per month and may require additional rent to cover a proportionate share of taxes, maintenance, insurance and other shared expenses. Rents are generally increased annually by fixed amounts, subject to certain maximum amounts defined within individual agreements. Rent expenses under these operating leases for the years ended December 31, 2016 and 2015 were approximately $865,500 and $977,000, respectively.

 

Future minimum payments by year (excluding related party leases) required under lease obligations consist of the following for fiscal years ending December 31:

	Property		Equipment		Net Lease
	Leases		Leases		Total
2017	$	762,000	$	144,000	$	906,000
2018		884,000		14,000		898,000
2019		570,000		-		570,000
2020		330,000		-		330,000
2021		334,000		-		334,000
Thereafter		1,232,625		-		1,232,625
Total	$	4,112,625	$	158,000	$	4,270,625

Employment Agreements

The Company has employment agreements with certain executives that set forth compensation levels and provide for severance payments in certain instances.

Litigation

The Company is not involved in any material legal proceedings.