Item 2. Properties
ITEM 2. PROPERTIES.
We do not own any real
property. We lease offices at 275 Madison Avenue, New York, NY. The lease is for 5,790 square feet and has a term of seven years
and three months, with an expiration date of September 6, 2022, with a current annual rate $342 thousand. We are also responsible
for certain other costs, such as insurance, taxes, utilities and maintenance. We issued a letter of credit of $391 thousand in
connection with the lease and maintained a $391 thousand certified deposit as collateral for the letter of credit.
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