Commitments and Contingencies

12 Months Ended

Dec. 31, 2012

Commitments and Contingencies [Abstract]

Commitments and Contingencies

17. Commitments and Contingencies

BioTime had no fixed, non-cancelable contractual obligations as of December 31, 2012, with the exception of office and laboratory facility operating leases.  The lease ofBioTime's office and laboratory in Alameda, California expires on January 31, 2016.  BioTime hasan option to extend the lease for one additional term of five years, with the rent to be determined at the time of the extension based on the prevailing market rate for comparable facilities.  Base monthly rent under thecurrent Alameda facility lease is $29,856 from December 2012 and will increase by three percent each year.  In addition to the base rent, BioTimepays a pro rata share of real property taxes and certain costs associated to the operation and maintenance of the building in which the leased premises are located.

BioTime also currently pays $5,050 per month for the use of approximately 900 square feet of office space in New York City, which is made available by one of BioTime's directors at his cost for use in conducting meetings and other business affairs.

ESI's lease of office space in Singapore expired on October 31, 2012.  Base monthly rent under that lease was S$2,241 (approximatelyUS$1,800).  The lease was not renewed.  ESI's Singapore lease of lab space expires on October 31, 2013.  Base monthly rent under the Singapore laboratory lease is S$9,600 (approximatelyUS$7,850).  In addition to base rent, ESI pays a pro rata share of real property taxes and certain costs related to the operation and maintenance of the building in which the leased premises are located.

LifeMap Sciences' lease of office space in Tel Aviv, Israel expired on April 30, 2012.  Base monthly rent under that lease was ILS 15,000 (approximatelyUS$4,000) per month.  The lease was renewed with additional space effective June 1, 2012 through May 31, 2015.  Base monthly rent under the renewed lease is ILS 20,720 (approximatelyUS$5,550) per month.  The original lease was extended through May 31 as the new space was not ready on May 1.  In addition to base rent, LifeMap Sciences pays a pro rata share of real property taxes and certain costs related to the operation and maintenance of the building in which the leased premises are located. LifeMap Sciences also leases several parking spots.

LifeMap Sciences also currently leases office space in Hong Kong. This lease expires on November 30, 2013.  Base monthly rent under the lease is HK$6,401 (approximatelyUS $825) per month for the use of approximately 80 square feet of office space. In addition to base rent, LifeMap Sciences pays certain costs related to the operation of the building in which the leased premises are located.

LifeMap Sciences also currently leases office space in Marshfield, Massachusetts. This lease expires on September 30, 2015.  Base monthly rent under the lease is $1,082 per month for the use of approximately 750 square feet of office space.  The lease was assumed in connection with the merger with XenneX which occurred in May 2012.

Cell Cure Neurosciences' lease of office and laboratory space in Israel expires on June 1, 2014.  Base monthly rent for that facility is approximately ILS 33,000 (approximately US$8,800).  In addition to base rent, Cell Cure Neurosciences pays a pro rata share of real property taxes and certain costs related to the operation and maintenance of the building in which the leased premises are located. Cell Cure Neurosciences will be liable for ILS 8,580,000 (approximately US$229,700) in improvement costs should they not renew the lease after it expires.

Rent expenses totaled $1,178,840, $1,058,170, and $656,883 for the years ended December 31, 2012, 2011, and 2010, respectively.  Remaining minimum annual lease payments under the various operating leases for the year ending after December 31, 2012 are as follows:

Year Ending December 31,	Minimum lease payments
2013	$	1,021,054
2014		879,638
2015		804,341
2016		32,625
2017		-
Thereafter		-