Item 2. Properties
ITEM 2. PROPERTIES.
Our corporate headquarters are in Basking Ridge, New Jersey. The space is approximately 11,600 rentable square feet and the base monthly rent is approximately $25,700 through May 31, 2022. In November 2021 we executed a lease amendment to reduce the space to approximately 8,100 rentable square feet effective June 1, 2022 through September 30, 2025 (three years and four months). The new base monthly rent is approximately $15,900 with the first four months free. In addition, there are two five-year renewal options. In July 2019, we executed a three-year lease extension for the approximately 3,400 rentable square feet in our Rye Brook, New York office, which extension expires in March 2023. The base monthly rent for our Rye Brook office is approximately $9,000. We believe the total leased space is sufficient for the near future.
ITEM 3. LEGAL PROCEEDINGS.
We are party to certain legal proceedings in the ordinary course of business. We do not believe that any current legal proceedings are likely to have a material effect on our business, financial condition or results of operations.
ITEM 4. MINE SAFETY DISCLOSURES.
Not applicable.
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Index
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.