Item 2. Properties
ITEM
2. PROPERTIES
We
have leased two facilities in Acton, Massachusetts, one which is month-to-month beginning March 2025 and the other will expire in March
2027.
Our
President and Chief Executive Officer and his spouse, who is also a director of our Company, serve as officers and/or directors of two
business entities that are unaffiliated with us (Canary, Inc. and Laminar Pharma, Inc.), and we permit these entities to use our main
facility as their registered business address.
Our
Chief Technology Officer majority owned business entity (NanoHybrids, Inc.) is permitted to use our laboratory facility. We bill such
entity for the part-time use of our personnel at a rate of the respective employee’s fully burdened personnel cost, plus an additional
10% fee for use of the facility.
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