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Commitments and Contingencies
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9 Months Ended | ||||||||||||||||||||||||||||
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Sep. 30, 2014
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| Commitments and Contingencies Disclosure [Abstract] | |||||||||||||||||||||||||||||
| Commitments and Contingencies | Commitments and Contingencies From time to time, the Company may be involved in disputes, including litigation, relating to claims arising out of operations in the normal course of its business. Any of these claims could subject the Company to costly legal expenses and, while the Company generally believes that it has adequate insurance to cover many different types of liabilities, its insurance carriers may deny coverage or its policy limits may be inadequate to fully satisfy any damage awards or settlements. If this were to happen, the payment of any such awards could have a material adverse effect on the Company's consolidated results of operations and financial position. Additionally, any such claims, whether or not successful, could damage the Company's reputation and business. The Company is currently not a party to any legal proceedings, the adverse outcome of which, in management’s opinion, individually or in the aggregate, would have a material adverse effect on the Company's consolidated results of operations or financial position. Leases In August 2014, the Company amended the term of the lease for its North Carolina facility by extending term of the lease through January 2016. Rent expense was approximately $53,000 and $156,000 for the three and nine months ended September 30, 2014 and $79,000 and $153,000 for the three and nine months ended September 30, 2013, respectively. The following is a schedule of non-cancellable future minimum lease payments for operating leases as of September 30, 2014 (in thousands):
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