Item 2. Properties
Item 2. Properties
Currently, we do not own any real estate. As of
December 31, 2024, we have operating leases for office space in four multi-tenant facilities. The leases include office spaces in
Waltham, Massachusetts; Clarkston, Michigan; Scottsdale, Arizona and Zagreb, Croatia. Our principal executive offices are located at 260
Charles Street, Waltham, Massachusetts 02453.
The lease in Waltham, Massachusetts expires July
31, 2026 and has a monthly rent with escalating payments of $5,778 to $6,848. The lease in Clarkston, Michigan expires November 30, 2025,
with a three-year renewal option through 2028, and has a monthly rent of $2,445. The lease in Scottsdale, Arizona expires April 30, 2025,
and has a monthly base rent with escalating payments of $9,304 to $9,727. On February 19, 2025, the Company entered into a new lease in
Scottsdale, Arizona with the current landlord for reduced space and monthly rent, with escalating payments of $7,870 to $8,453 over three
years, expiring on July 31, 2028. The Company entered into a lease for new office space in Zagreb, Croatia on July 1, 2023, which expires
on June 30, 2029, but which grants the tenant the option to terminate the lease with 30-day notice before each lease anniversary, and
has a monthly rent of approximately $3,111. The former lease in Zagreb, Croatia, with a monthly rent of approximately $1,883 was terminated
effective June 30, 2023.
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