Quarterly report pursuant to Section 13 or 15(d)

Note 6 - Commitments and Contingencies

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Note 6 - Commitments and Contingencies
6 Months Ended
Jun. 30, 2017
Notes to Financial Statements  
Commitments and Contingencies Disclosure [Text Block]
Note
6.
Commitments and Contingencies
 
We currently operate
one
facility located in the United States and
one
facility located in China. Our corporate offices and primary research facilities are located in Germantown, Maryland, where we license approximately
1,500
square feet. This license provides for monthly payments of approximately
$5,500
per month with the term expiring on
December 31, 2017.
 
In
2015,
we entered into a lease consisting of approximately
3,100
square feet of research space in San Diego, California. This lease provides for current monthly payments of approximately
$11,600
and expires on
August 31, 2019.
In
May 2017,
we ceased-use of this property and recognized a loss of approximately
$92,000
representing the present value of the expected remaining net payments due under such lease and the costs to vacate the property. The loss is included in research and development expense on our statements of operations for the
three
- and
six
-month periods ended
June 30, 2017.
We are currently exploring opportunities to sub-lease the unused research space.
 
We also lease a research facility in People’s Republic of China. This lease expires on
September 30, 2018
with lease payments of approximately
$3,200
per month.
 
From time to time, we are parties to legal proceedings that we believe to be ordinary, routine litigation incidental to the business. We are currently
not
a party to any litigation or legal proceeding.