5. Deferred Rent

Deferred rent consists of the following at March 31, 2016 and December 31, 2015:

	March 31, 2016		December 31, 2015
Landlord-funded leasehold improvements	$	1,124,790	$	1,124,790
Less accumulated amortization		(407,279)		(375,530)
Total		717,511		749,260
Straight line rent adjustment		178,749		165,414
Total deferred rent	$	896,260	$	914,674

During the three month periods ended March 31, 2016 and 2015, the Company recorded $31,749 and $31,750, respectively, in deferred rent amortization of these landlord funded leasehold improvements.

Straight line rent adjustment represents the difference between cash rent payments and the recognition of rent expense on a straight-line basis over the terms of the lease.