Commitments and contingencies

6 Months Ended

Jun. 30, 2015

Commitments and Contingencies Disclosure [Abstract]

Note 8 - Commitments and contingencies

Operating leases

During 2008, the Company relocated its headquarters to Gaithersburg, Maryland. The operating lease for that facility contained stated monthly rates with annual increases effective each anniversary date, and was scheduled to terminate in September 2012. In April 2011, this lease was modified and extended until September 2014; in March 2014, the Company extended the termination date to April 2015. On March 20, 2015, the Company extended the term of the existing lease by 69 months effective May 1, 2015, with one additional five-year renewal at the Company’s election. The Company is responsible for all utilities, repairs, insurance, and taxes under this operating lease. Rent expense under the Company’s operating leases for the six months ended June 30, 2015 and 2014 was $380,641 and $443,713, respectively. Rent expense in 2015 reflected a decrease in pass-through expenses from the landlord as compared to 2014. Effective July 1, 2015, the Company further modified its lease agreement to add additional leased space to its headquarters.

Capital leases

The Company leases computer equipment, office furniture, and equipment under various capital leases. The leases expire at various dates through 2018. The leases require monthly principal and interest payments.