Item 2. Properties
Item 2. Properties
We lease our offices and do not own any real estate. The following table set forth information as to the real property leased by us:
Location
Square Feet
Current Annual Rent
Expiration Date
3080 12th Street, Riverside, CA (1)
158,693
$ 1,618,418
12/31/26
Room 402, Floor 4, No. 558 Tongxie Rd., Shanghai, China
5,920
104,693
12/31/23
(1)
This property is owned by 3080 Landlord pursuant to a net lease dated October 13, 2022. Rent for the first lease year is at the annual rate of $1,618,418 and increases 3% per year.
We believe our current facilities are adequate for the foreseeable future. If we require additional or substitute space, we believe that we will be able to obtain such space on acceptable, commercially reasonable terms.
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.