Item 2. Properties
ITEM
2. PROPERTIES
Our
corporate headquarters are located at Suite 1445 - 885 West Georgia Street, Vancouver, British Columbia V6C 1B4, Canada. This lease was
signed in July 2024 and the office space occupies approximately 2,243 square feet with a monthly basic rental rate and operating charges
of an estimated C$12,296 over the two-year term of the agreement.
In
July 2019, we entered into a facility lease agreement for approximately 4,000 square feet of office space in Vancouver, BC, which served
as our corporate headquarters until August 2024, when the lease expired. We did not take the option to renew for an additional three-year
period.
In
October 2023, BayMedica entered into an amended facility lease agreement for approximately 7,000 square feet of office space in San Francisco,
California with average monthly operating charge of $30,134 over the three and a half-year term of the agreement. The lease expires in
April 2027.
We
believe substantially all of our property and equipment is in good condition and that we have sufficient capacity to meet our current
operational needs. We further believe that, should it be needed, suitable additional space is available to accommodate any expansion
of our operations, but such space may not be available in the same building, if and when such space is needed.
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