Item 2. Properties
Item 2. Properties.
The Company leases premises of 1,367 square feet
located at 6201 Bonhomme Road, Suites 435N, Houston, Texas. The lease provides for base rent of $1,631 per month. For information regarding
the recording of the right-of-use asset and the lease liability in the balance sheets in respect of a prior lease, see Note 5 to the Company’s
financial statements.
Two of the Company’s officers leased 1,400
square feet in Houston, Texas (the “Officers’ Leased Property”), under a lease, the term of which commenced on February
29, 2020, and expired on March 14, 2022, at a rent of $3,449 per month. These officers made a portion of these premises available to the
Company for office space on a month-to-month basis, for which the Company paid them $2,817 per month. On March 15, 2022, these officers
entered into a new lease for the same premises, which expired on September 14, 2022, at a rent of $3,008 per month, and these officers
continued to make a portion of these premises available to the Company for use as office space, for which the Company is paying them $2,817 per
month on a month-to-month basis. On September 15, 2022, the officers that leased the Officers’ Leased Property entered into a new
lease for these premises, which expired on March 14, 2023, at a rent of $3,038 per month, and these officers continued to make a portion
of these premises available to the Company for use as office space, for which the Company paid them $2,817 per month. On March 2, 2023,
these officers entered into a new lease for the same premises, which expires on September 14, 2023, at a rent of $3,168 per month and
they continued to make a portion of these premises available to the Company for use as office space, for which the Company paid them
$2,817 per month. On September 6, 2023, these officers entered into a new lease of this property, which commenced on September 15, 2023,
and will expire on September 14, 2024, at a rent of $3,164 per month and they are made a portion of these premises available to the Company
for use as office space, for which the Company is paying them $2,817 per month.
Item 3. Legal Proceedings.
None.
Item 4. Mine Safety Disclosures.
Not applicable.
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PART II
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.