Item 2. Properties
ITEM
2. Properties.
Our
principal executive office and finance is located at 2117 SW Highway 484, Ocala FL 34473 and our human resource office is located at
604 Main Street, Riverton, NJ 08077. We currently lease our principal executive office for $2,700 per month and our accounting and human
resource office for about $2,500 per month.
In
March 2018, we sold our property located at 783 Jersey Ave., New Brunswick, NJ. This property houses our development and production facilities.
The purchase price was $4,080,000 gross and purchaser received 3,225,806 warrants to purchase common stock.
In
May 2021, we exercised the option to re-purchase the New Brunswick manufacturing facility, pursuant to the terms of the March 2018 sale
and lease-back agreement. We thereafter sold certain equipment and machinery that it determined to be obsolete and no longer needed for
current or future manufacturing. On March 3, 2022, we entered into an Agreement of Sale and Purchase with Acellories, Inc. to purchase
the property for an estimated $3.9 million, and maintained some space specifically for its Alferon activity. The sale closed on November
1, 2022 for $3.7 million net of normal closing cost.
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