Commitments and Contingencies

12 Months Ended

Sep. 30, 2016

Commitments and Contingencies Disclosure [Abstract]

(10)	Commitments and Contingencies

The Company’s headquarters is located in leased office space under a single non-cancelable operating lease at 7250 Redwood Blvd., Suite 200, in Novato, California. The current lease expires on March 31, 2017; however, a lease amendment was executed as of August 30, 2016. The amended lease expires June 30, 2021, with one five-year extension available thereafter. The minimum future rental commitment as of September 30, 2016, is $1.8 million for the remaining term of the current and amended leases. The straight-line rent expense is $31,787 per month for the remaining term of the current and amended leases.

The Company also has office space under a single non-cancelable operating lease at 101 Federal Street, Suite 1900, Boston, Massachusetts 02110. The initial term of our lease expired on November 30, 2015, but automatically renews for successive one-year periods unless either party terminates the lease by providing at least three months’ notice of termination to the other party prior to the next renewal date. The future rental commitment under this lease as of September 30, 2016, is $12,610 for the remaining term of the most recent automatic renewal, and $75,663 for the next automatic renewal. The straight-line rent expense is $6,305 per month for the remaining term of the most recent automatic renewal.

The Company also has office space under a single non-cancelable operating lease at 1340 Environ Way, #305, Chapel Hill, North Carolina 27517. The initial term of our lease expired on November 30, 2015, but automatically renews for successive three-month periods unless either party terminates the lease by providing at least two months’ notice of termination to the other party prior to the next renewal date. The future rental commitment under this lease as of September 30, 2016, is $3,421 for the remaining term of the most recent automatic renewal, and $5,131 for the next automatic renewal. The straight-line rent expense is $1,710 per month for the remaining term of the most recent automatic renewal.

The annual minimum future rental commitments under the foregoing leases as of September 30, 2016, are as follows:


Fiscal Year
	(In thousands)
2017	$	466
2018		394
2019		381
2020		381
2021		286

Total	$	1,908