Item 2. Properties
Item 2. Properties
Currently, we do not own any real estate. Our
principal executive offices are located at 400 Water Street, Suite 200, Rochester, Michigan 48307.
As of December 31, 2021, we had operating leases
with initial lease terms greater than 12 months for office space in three multitenant facilities. The lease on our headquarters space
in Rochester, Michigan expires November 30, 2023, with a two-year renewal option through 2025, with monthly rent payable at rates ranging
from $6,384 to $6,688. We have assumed renewal of this lease for financial statement purposes. We also had a lease on office space in
Cranbury, New Jersey, which expired in January 2022, with a monthly payment of $3,158, as well as a lease of approximately $1,883 per
month in Zagreb, Croatia expiring in 2024. We did not renew the New Jersey lease. We also lease minor amounts of space in shared space
facilities on a month to month basis as necessary.
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