OPERATING LEASES

12 Months Ended

Dec. 31, 2018

Leases [Abstract]

OPERATING LEASES

OPERATING LEASES

The Company leases office space under an operating lease expiring in 2021. Minimum future annual lease payments for the calendar years presented are as follows:

	Amount
2019	$	352,000
2020	361,000
2021	340,000
Total	$	1,053,000

The following has been recorded to rent expense for the periods presented:

	December 31,
	2018		2017		2016
Rent Expense	$	328,000	$	369,000	$	320,000

The Company’s has an office space lease agreement that contains scheduled escalation in lease payments during the term of the lease. In accordance with GAAP, the Company records rent expense on a straight-line basis and a deferred rent liability for the difference between the straight-line amount and the actual amounts of the lease payments. Rent expense is included in the statement of operations in the “General and Administrative Expense” line item.