Item 2. Properties
Item 2. Properties
As of December 31, 2024, we lease (i) approximately 10,000 square feet of office space in Los Angeles, California with roughly two years remaining on the lease, (ii) approximately 20,000 square feet of space for a research and development laboratory in Longmont, Colorado with roughly one year remaining on the lease, and (iii) approximately 8,000 square feet of office space in Tustin, California with roughly four years remaining on the lease. 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 All properties
For the year ended December 31, 2024, our total annual rent expense was approximately $1,314,000.
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