Item 2. Properties
ITEM 2. PROPERTIES
Our principal executive offices are located at
65 Church Street, Suite 230, New Brunswick, NJ 08901. We lease our office for a monthly base rent of $6,417 plus a pro rata share of operating
expenses, with three percent (3%) annual increases in monthly installments on the first day of each year pursuant to a lease which terminates
on May 9, 2029. In addition to the monthly base rent, we are charged separately for a monthly payment of $307 for electrical use which
is considered a non-lease component. These non-lease component payments are expensed as incurred and are not included in operating lease
assets or liabilities. We believe that our current office space will be adequate for the foreseeable future. We intend to add new facilities
or expand existing facilities as we add employees, and we believe that suitable additional or substitute space will be available as needed
to accommodate any such expansion of our operations.
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.