Commitments and Contingencies

9 Months Ended

Sep. 30, 2014

Commitments And Contingencies

Commitments and Contingencies

On April 4, 2014, the Company entered into an operating sub-lease agreement beginning on April 14, 2014 and ending on May 31, 2015 (the “Term”) for its headquarters in Arlington, Virginia.  The estimated future payments under the Term of the operating lease are as follows:

2014	$	13,434
2015		23,900
Total Lease Commitment	$	37,334

The Company paid the entire rent through the Term and has recognized it as a prepaid rent.  Additionally, the Company paid a security deposit of one month’s rent of $4,815.

The Company recognizes a liability for a contingency when it is probable that liability has been incurred and when the amount of loss can be reasonably estimated. When a range of probable loss can be estimated, the Company accrues the most likely amount of such loss, and if such amount is not determinable, then the Company accrues the minimum of the range of probable loss. As of September 30, 2014, there was no litigation against the Company and therefore the litigation accrual was zero.