8.  Commitments and Contingencies

 

Legal matters

 

In the ordinary course of its business, the Company is involved in various legal proceedings involving a variety of matters. The Company does not believe there are any pending legal proceedings that will have a material impact on the Company’s financial position or results of operations.

 

Operating lease agreements

 

In 2014, the Company entered into two operating leases for office equipment. The leases require future minimum annual lease payments of  $7,287 and $1,602 for fiscal years 2016 and 2017, respectively.