Item 1B. Unresolved Staff Comments
Item 1B. Unresolved Staff Comments
 
None.
 
Item   2. Properties
 
Astrotech currently leases a research and development facility of approximately 5,960 square feet in Austin, Texas that includes a laboratory, a small production shop, and offices for staff, although our accounting and administrative employees continue to work remotely. The lease commenced on June 1, 2021 and has a lease term of 36 months.
 
On November 22, 2022 ,  Astrotech entered into a sublease agreement for an additional facility directly adjacent to the R&D facility (the “subleased facility”). The subleased facility consists of approximately 3,900 square feet and will provide the space needed as the Company launches its AgLAB products and continues its R&D efforts at BreathTech. The sublease commenced on December 1, 2022 and has a lease term of 29 months.
 
During fiscal year 2023, Astrotech had two existing facility leases and several equipment leases. We believe that our current facilities and equipment are well maintained, in good condition, and are adequate for our present and foreseeable needs.
 
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