Item 2. Properties
Item 2. Properties
As of December 31, 2021, we lease (i) approximately 10,000 square feet of office space in Los Angeles, California with six years remaining on the lease, (ii) approximately 15,000 square feet of office space in Irvine, California on a month to month basis, and (iii) approximately 20,000 square feet of space for research and development laboratory in Longmont, Colorado with four years remaining on the lease. In November 2021, we entered into a new lease agreement for approximately 8,000 square feet of office space in Tustin, California which will commence in July 2022 and replace our existing office space in Irvine, California. We do not own any real estate. The below table illustrates the use of each property by our business segments.
Business Segment Property Used
Consumer Products All properties
Ingredients All properties
Analytical Reference Standards and Services Irvine, CA and Longmont, CO
For the year ended December 31, 2021, our total annual rent expense was approximately $1,069,000.
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.