Other Long-Term Liabilities

Other long-term liabilities consist of the following at December 31, 2017 and 2016:



	2017		2016
Capital leases, less current portion	$	281,470	$	—
Deferred rent	131,493		163,165
Accrued taxes, less current portion	13,762		13,763
Contingent stock due for acquired domains, less current portion	—		147,029
Deferred Arkansas grant, less current portion	—		2,471
Total	$	426,725	$	326,428

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 $516,000 over the life of the lease (see Note 14).

In May 2015, we purchased two domain websites with a fair value of $715,874 (see Note 5). The purchase consideration is our common stock and is contingent upon the seller attaining specific performance targets over three years. In May 2016, the seller achieved the specific performance target for the first year and as a result, we issued 166,667 shares of common stock. The accrued contingent liability and the related intangible asset, domain websites, were adjusted by approximately $46,000 to reflect the lower price paid as compared to the contingent liability recorded as a result of the change in the price of Inuvo stock from the date of acquisition to the first contingent release of shares. In 2017, we determined that the seller would not meet the specific performance target for the second and third years and therefore, we adjusted the balance of the contingent liability and associated intangible asset by $369,506.