On March 6, 2018, the Company entered into a lease agreement (the “Newton Lease”) commencing on October 1, 2018 for certain premises which consist of 2,760 square feet of office space located in Newton, Massachusetts (the “Newton Premises”) to serve as its corporate headquarters. On March 5, 2019, the Company entered into a lease agreement to amend the Newton Lease and to lease an additional 1,600 square feet of office space, commencing on or around June 1, 2019, located in Newton, Massachusetts (the “Additional Newton Premises”) to serve as additional space for its corporate headquarters. The term of the lease for the Newton Premises and the Additional Newton Premises expires on May 31, 2022. In addition, the Company is required to share in certain taxes and operating expenses of the Newton Premises and the Additional Newton Premises.

The Company entered into a Triple Net Lease (the “Bend Lease”) effective April 1, 2018 for certain premises consisting of 2,288 square feet of office space located in Bend, Oregon (the “Bend Premises”) to serve as a satellite facility. The term of the Bend Lease commenced on April 1, 2018 and expires on March 31, 2021 (the “Bend Term”). The Company has an option to extend the Bend Term for up to two additional periods of three years and a right of first refusal to lease an additional suite in the same building.

The leases for the Newton Premises, the Additional Newton Premises, and the Bend Premises are classified as operating leases. The Company recorded a non-cash transaction to recognize a right-of-use asset of $0.4 million in other non-current assets, as well as a lease liability of $0.2 million in other current liabilities and $0.2 million in other non-current liabilities. This lease liability represents the net present value of future lease payments for leases which have commenced utilizing a discount rate of 8%, which corresponds to the Company’s incremental borrowing rate. As of March 31, 2019, the weighted average remaining lease term was 2.8 years. The Company recorded expense related to the leases of $37 thousand and $19 thousand for the three months ended March 31, 2019 and 2018, respectively. During the three months ended March 31, 2019, the Company made cash payments of $28 thousand for amounts included in the measurement of lease liabilities.

The following table reconciles the undiscounted lease liabilities to the total lease liabilities recognized on the unaudited condensed consolidated balance sheet as of March 31, 2019:

Undiscounted lease liabilities for years ending December 31,:
2019 (remaining)	$	123,127
2020		167,813
2021		123,714
2022		45,850
Total undiscounted lease liabilities	$	460,504
Less effects of discounting		(50,633	)
Total lease liabilities	$	409,871

Reported as of March 31, 2019:
Other current liabilities	$	164,629
Other non-current liabilities		245,242
Total lease liabilities	$	409,871

The Company also has a minimum future lease commitment of $0.2 million related to the Additional Newton Premises, the net present value of which will be recognized as a liability on the commencement date of the lease.

Years Ending December 31:	Minimum Lease Payments
2019	$	151,579
2020		155,813
2021		93,204
Total	$	400,596