Item 2. Properties
Item
2. Properties
In March 2020, we entered into a seven-year operating
lease agreement for an office space at 300 Connell Drive, Berkeley Heights, New Jersey 07922. The lease agreement, with a monthly average
cost of approximately $17,000, commenced on September 16, 2020. Our sublease from our previous premises terminated on November 30, 2020.
Our subsidiary leases its offices
in Fulda, Germany pursuant to a three-month lease agreement which commenced in June 2017, renewable every three months for a base monthly
payment of €400.
We believe that our existing facilities are adequate
to meet our current needs, and that suitable additional alternative spaces will be available in the future on commercially reasonable
terms.
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