Commitments and Contingencies |
3 Months Ended | |||||||||||||||
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Mar. 31, 2018 | ||||||||||||||||
Notes to Financial Statements | ||||||||||||||||
Note 5. Commitments and Contingencies |
Commitments
Operating Leases
On December 22, 2015 we entered into a lease for new office space for a 12-month term, with a monthly rent payment of approximately $6,500 per month plus additional charges. This lease was renewed for an additional one-year term in December 2017.
The future minimum lease payments required under the non-cancelable operating leases are as follows (rounded in millions):
Contingency
Litigation
A former Chief Financial Officer of the Company filed a complaint against the Company with the U.S. Occupational Safety and Health Administration (the OSHA Complaint) on March 9, 2015. This complaint was closed and dismissed by OSHA in January 2018 without any findings against the Company. The former Chief Financial Officer had 45 days from the receipt of the letter from OSHA, or approximately up to March 29, 2018 to appeal this OSHA decision. On March 14, 2018 an appeal was filed and the Company will vigorously defend this appeal and believes that this appeal will not result in any findings against the Company. |