Item 2. Properties
ITEM
2. PROPERTIES
During
Fiscal 2020 and 2021, our facilities consisted primarily of approximately 20,000 shared square feet in Stanton, California and
an additional storage facility in Santa Clarita, California. Effective February 28, 2021, we vacated the Stanton facility and
consolidated our administrative offices, operations including warehousing space within a 17,700 square feet facility in Lake Forest,
California under a rental agreement that commenced on February 15, 2021 and covers a 66-month rental period from March 1, 2021
through August 31, 2026. The Stanton facility previously was used for final assembly and testing of AuraGen ® /VIPER
systems under a month-to-month rental agreement for $10,000 per month. The monthly rent for the Santa Clara storage facility that
was terminated effective July 31, 2020 was also under a month-to-month rental agreement for $5,000 per month. Following the exit
from the Santa Clarita facility on February 28, 2021, we rented temporary storage space through February 28, 2021 for $2,500 per
month.
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.