Prepaid expenses amounted to $538,135 at March 31, 2016. Prepaid expenses include prepayments in cash for professional fees, prepayments in equity instruments which are being amortized over the terms of their respective agreements. Amortization of the prepaid expense will be included in professional fees. The current portion consists primarily of costs paid for future services which will occur within a year. Prepaid expense current portion and long-term portion were $396,510 and $141,625, as of March 31, 2016. For the year ended December 31, 2015, prepaid expense current portion and long-term portion were $191,677 and $189,968, respectively.