Other Long-Term Liabilities

Other long-term liabilities consist of the following as of:



	September 30, 2017		December 31, 2016
Capital leases, less current portion	$	333,311	$	—
Deferred rent	138,331		163,165
Accrued taxes, less current portion	13,763		13,763
Contingent stock due for acquired domains, less current portion	—		147,029
Deferred Arkansas grant, less current portion	—		2,471
Total	$	485,405	$	326,428

On May 8, 2015, we purchased two domain websites with a fair value of $715,874 (see Note 4). The purchase consideration was our common stock and is contingent upon the seller attaining specific performance targets over three years. On May 8, 2016, the seller achieved the specific performance target for the first year and as a result, we issued 166,667 shares of common stock. The accrued contingent liability and the related intangible asset, domain websites, were adjusted by approximately $46 thousand to reflect the lower price paid as compared to the contingent liability recorded as a result of the change in the price of Inuvo stock from the date of acquisition to the first contingent release of shares. In March 2017, we determined that the seller would not meet the specific performance target for the second year and therefore, we adjusted the carrying value of the related intangible asset and contingent liability by $222,477.