Item 2. Properties
Item 2. Properties.
As of December 31, 2020, we lease approximately 10,252 square
feet of space for our headquarters in New York, New York under an agreement that expires in March 2028, with monthly rent of $93,122.
This lease has been entered into but the Company will not have access to the premises until the second quarter of 2021. Our previous
headquarters for approximately 700 square feet of space with monthly rent of $15,300 expires in March 2021 and we do not intend
to extend this lease. In addition, we entered into a quarter-to-quarter lease agreement for a development lab, a manufacturing
space and an additional manufacturing space, all located in North Carolina for quarterly rent of $1,309, $19,173 and $10,625, respectively.
The development lab space has been occupied as of May 2019, the manufacturing space has been occupied as of March 2020 and the
additional manufacturing space has been occupied as of December 2020. We believe that our existing facilities are adequate to meet
our current needs, and that suitable additional alternative spaces will be available in the future on 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.