Item 2. Properties
Item 2. PROPERTIES.
We currently lease approximately 2,800 square feet of office space for our executive offices in Markham, Ontario, from 1968160 Ontario Inc., an entity affiliated with Dr. Nijhawan. Pursuant to the lease, as amended and extended on December 31, 2022, the term of the lease expired on December 31, 2024. The lease was subsequently extended to November 30, 2025 and thereafter, the arrangement continues on a month-to-month basis and either party may terminate on 30 days’ notice. We believe our current offices are sufficient to meet our needs. We may seek to negotiate new leases or evaluate additional or alternate space to accommodate operations. We believe that appropriate alternative space is readily available on commercially reasonable terms.
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