Subsequent Events

9 Months Ended

Sep. 30, 2016

Subsequent Events

Subsequent Events

13. Subsequent Events

On October 6, 2016, the Company amended the lease agreement it directly entered into with the landlord of its First Space and Second Space (as described in Note 6) to include an additional sublease of office space. The additional sublease covers approximately 48,000 square feet of office space and consists of two phases. The first phase began in October 2016 and covers approximately 16,000 square feet of office space at a base rent of $60,730 per month. The second phase, which covers approximately 32,000 square feet of office space at a base rent of $121,460 per month, is expected to begin in January 2017, as the Company progresses with its expansion. The term of this sublease is approximately eighty-four months, with the same expiration date as the First Space and Second Space, which is in October 2023.