Commitments and Contingencies
|12 Months Ended|
Dec. 31, 2015
|Commitments and Contingencies [Abstract]|
|Commitments and Contingencies Disclosure [Text Block]||
7. Commitments and Contingencies
In 2011, we entered into a facility agreement with a third party pursuant to which we issued 8.5% promissory notes in the aggregate principal amount of $20.0 million. In connection with the facility agreement, we issued the lender six-year warrants to purchase 1,090,910 shares of our common stock at an exercise price, after adjustment, of $6.88 per share (See Note 9, “Warrant Liability” for further discussion). We also entered into a royalty agreement with the lender in exchange for $3.0 million (see Note 8, “Royalty Liability” for further discussion), as well as an option to repurchase the royalty right for $40 million.
We lease facilities under operating leases that expire at various dates through June 2016. Rent expense was $211,000, $209,000, and $210,000 for years ended December 31, 2015, 2014, and 2013, respectively.
The following is a schedule of future minimum lease payments at December 31, 2015 (in thousands):
There are no ongoing legal proceedings against our company.
The entire disclosure for commitments and contingencies.
Reference 1: http://www.xbrl.org/2003/role/presentationRef