Item 2. Properties
ITEM
2. PROPERTIES
We
lease office space at 2107 Wilson Blvd. S#530, Arlington, Virginia. In February 2020, we entered into a lease agreement with our
landlord for approximately 3,666 square feet. The lease was effective February 1, 2020 and has a five year and six months term.
The initial monthly rent is $13,289, and the lease agreement provides for annual rent increases of approximately 2.7%. The amount
of future payments guaranteed is $822,082. We terminated the employment with all of the employees working in the Arlington space
during the restructure completed in April. As such, we have surrendered the space to the landlord and are actively negotiating
an exit from the lease.
ITEM
3. LEGAL PROCEEDINGS
See
“Litigation” in Note 7 – Commitments and Contingencies of the Notes to the Financial Statements in Part II,
Item 8 of this Annual Report on Form 10-K.
ITEM
4. MINE SAFETY DISCLOSURES
Not
applicable.
7
PART
II
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