Item 2. Properties
ITEM
2. PROPERTIES
Our
principal executive offices are located at 1500 West Shure Drive, Suite 200, Arlington Heights, IL 60004 and consist of approximately
4,000 square feet. We currently lease such facility for $7,500 per month and our lease has a lease escalation clause under which has
3% in each the three years. The lease expires on June 30, 2023.
We
also had an office lease at Lakeside Corporate Court, 5880 Live Oak Parkway, Suite 100, Norcross, Georgia 30093. The lease is for 2,475
rentable square feet and expires August 1, 2024. The monthly lease expense commenced at $1,000 for the first year and rises to $2,900
per month in the fifth year of the lease. This lease was terminated in December 2022.
As
we expand, we will need to find suitable additional space, which we believe is available on commercially reasonable terms for Restaurant.com.
We do not own any real estate.
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