Item 2. Properties
ITEM 2. PROPERTIES
Our Subsidiary BioLite has its laboratories located
in Hsinchu Biomedical Science Park, with an address of 2nd Floor, No. 20, Sec. 2, Shengyi Rd., Zhubei City, Hsinchu County 302, Taiwan
(R.O.C.). On January 1, 2015, BioLite Taiwan entered into a lease agreement with the National Science Park Administrative Office (Hsinchu
City) under which it rents two dormitory buildings in Hsinchu County, Taiwan for a period of five years. The aggregate leasing area amounts
to approximately 678 square meters (equivalent to approximately 7,298 square feet) on the second floor of the building. The leased space
counts for approximately 1.9% of the total space of the building. On January 1, 2020 and January 1, 2024, BioLite Taiwan extended the
contract for another five and five years respectively. The new expiration date is on December 31, 2029. The rent increases by a small
percentage each year during the term of the lease agreement. BioLite paid $49,802 and $48,406 in rental expense for the laboratory space
for the years ended December 31, 2025 and 2024, respectively.
Another subsidiary, BioKey, is headquartered in
Fremont, California. BioKey’s office lease will end on February 28, 2031 and the office occupies approximately 28,186 square feet.
BioKey’s space consists of offices, research and production laboratories, and manufacturing facilities, which are GMP certified.
The total BioKey’s rental expenses were $416,265 and $421,894 for the years ended December 31, 2025 and 2024, respectively.
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