(9) CAPITAL LEASES AND OTHER OBLIGATIONS

On October 31, 2014, the Company entered into a Lease Termination Agreement (“LTA”) and new Lease Agreement (“LA”) with its landlord relating to the Company’s headquarters location in Lone Tree, Colorado, under which the Company reduced the amount of space leased at its headquarters. The following is a summary of the key terms of the LTA:

Monthly rental payments were adjusted to $43 from September 1, 2014 through December 31, 2014;

The Company vacated the unleased portion of the property on or before December 31, 2014;

The existing lease terminated as of December 31, 2014;

The Company surrendered to the Landlord substantially all of the furniture and fixtures and leasehold improvements in the portion of the building vacated at no cost to the landlord; and

Effective upon termination of the existing lease (December 31, 2014), all amounts due to the landlord for deferred rent and any other charges were forgiven.

The following is a summary of the key terms of the new LA:

The term of the LA is two years commencing on January 1, 2015 and to end, unless sooner terminated, on December 31, 2016;

Fixed rental payments of $49 per month; and

The Company and landlord shall each have the right to terminate the lease at any time, without liability to the other, with six months prior written notice to the Company and three months written notice to the Landlord.

As a result of the above agreements, during the fourth quarter of 2014, the Company recorded a gain of $2,195, reflecting the forgiveness of the liability for deferred rent of $2,845, which was partially offset by the write-off of certain office furniture and fixtures, and leasehold improvements amounting to $650 which were surrendered to the landlord.

The Company also leases certain equipment under capital leases which expire on various dates through 2018. Imputed interest rates on the leases range from approximately 5% to 10%. At December 31, 2015 and 2014, the total recorded cost of assets under capital leases was $461 for both years and the accumulated depreciation related to these assets totaled $195 and $105, respectively.

As of December 31, 2015, future minimum lease payments under non-cancelable notes payable, operating and capital leases are as follows:

	Capital Leases			Operating Leases
2016	$	109		$	583
2017		114
2018		79			—
2019		23			—
Thereafter		—			—
Total future minimum lease payments		325		$	583
Less current portion		(109	)
Notes payable and other obligations	$	216

Rent expense under all operating leases for 2015 and 2014 was approximately $598 and $1,158, respectively.