Commitments and contingencies
Operating lease commitments
On October 1, 2016, the Group entered into a lease for a new office space under an operating lease agreement. The lease has a five year fixed term, subject to a one-time cancellation option effective as per September 30, 2019. Effective December 31, 2017, the Group entered into a termination agreement related to a lease entered into on April 1, 2013.
The future minimum lease payments under non-cancellable operating leases that are not accounted for in the statement of financial position were as follows:
|
| | | | | |
| December 31, 2017 | | December 31, 2016 |
Within one year | 161,110 |
| | 161,110 |
|
Between one and five years | 446,051 |
| | 607,161 |
|
Total | 607,161 |
| | 768,271 |
|
| | | |
Office lease expenses of CHF 192,957, CHF 148,039 and CHF 107,450 were booked in 2017, 2016 and 2015, respectively, in the consolidated statement of profit or loss and other comprehensive loss.
