Leases

We lease certain office space and equipment. As leases expire, it can be expected that they will be renewed or replaced in the normal course of business. Rent expense from continuing operations was $109,701 and $346,717 for the three and nine months ended September 30, 2017 and $42,248 and $135,635 for the three and nine months ended September 30, 2016, respectively.

Minimum future lease payments under non-cancelable operating leases as of September 30, 2017 are:




2017	$	116,235
2018	466,329
2019	473,851
2020	402,138
2021	239,090
2022	162,706
Total	$	1,860,349

In June 2017, we entered into an agreement with Dell Financial Services to lease computer equipment for our data centers. The lease has a term of three years and will cost approximately $173,000 over the life of the lease.

As part of the NetSeer asset acquisition, Inuvo assumed the office space lease that served as NetSeer's headquarters in Sunnyvale, CA. The lease was for 15,717 square feet and cost approximately $95,000 for the remaining term of the lease which expired in July 2017. In June 2017, we entered into an agreement to lease 4,801 square feet of office space in San Jose, CA commencing on July 17, 2017. The lease has a term of five years and will cost approximately $216,000 during its first year. After the first year, the lease payment will increase by 3% per annum.