On October 2, 2017, the Company entered into an office sublease agreement (the “Sublease”) with Profitect, Inc. (the “Sublandlord”) to sublease approximately 5,923 rentable square feet of office space located at 1601 Trapelo Road, Waltham, MA 02451 (the “Premises”). The term of the Sublease began on November 1, 2017 and will expire on July 31, 2021 (the “Term”), with a monthly rental rate starting at $14,808 and escalating to a maximum monthly rental rate of $16,288 in the final 12 months of the Term. The Sublandlord provided the Premises to the Company free of charge for the first two months of the Term. The Company will recognize the remaining expense in accordance with ASC 842.

Throughout the Term, the Company is responsible for paying certain costs and expenses, in addition to the rent, as specified in the Sublease, including a proportionate share of applicable taxes, operating expenses and utilities. In applying the ASC 842 transition guidance, the Company retained the classification of this Sublease as operating and recorded a lease liability and a right-of-use asset on the ASC 842 effective date.

The following table contains a summary of the Sublease costs recognized under ASC 842 and other information pertaining to the Company’s operating Sublease for the nine months ended September 30, 2020:

	Nine Months Ended September 30, 2020
Sublease cost
Operating Sublease cost	$	134,452
Total Sublease cost	$	134,452

Other information
Operating cash flows used for operating Sublease	$	143,139
Weighted average remaining Sublease term	0.8 years
Weighted average discount rate		10	%

Future minimum Sublease payments under the Company’s non-cancelable operating Sublease as of September 30, 2020 and December 31, 2019 are as follows:

Future Operating Sublease Payments	Nine Months Ended September 30, 2020
2020 (excluding the nine months ended September 30, 2020)	$	48,864
2021		114,018
Thereafter		—
Total Sublease payments	$	162,882
Less: imputed interest		(5,926	)
Total operating Sublease liabilities at September 30, 2020	$	156,956

Future Operating Sublease Payments	Year Ended December 31, 2019
2020	$	192,004
2021		114,018
Thereafter		—
Total Sublease payments	$	306,022
Less: imputed interest		(21,892	)
Total operating Sublease liabilities at December 31, 2019	$	284,130