Item 2. Properties
Item
2. Properties
We
lease approximately 5,472 rentable square feet of office space from an unaffiliated third party for our corporate office located at 9137
Ridgeline Boulevard, Suite 135 and Suite 280, Highlands Ranch, Colorado. This lease expires in May 2022 prior to which time we will renew
or enter into a new lease. Terms of the office lease currently provide for a base rent payment of $8,436 per month. We also lease approximately
2,220 rentable square feet of space from an unaffiliated third party for one of our Vivos Centers located at 4795 Larimer Parkway, Johnstown,
Colorado. This lease expires in February 2025. Terms of the office lease provide for a base rent payment of $3,608 per month and a share
of the buildings operating expenses such as taxes and maintenance of $2,035 per month. We also lease 3,643 rentable square feet of space
from an unaffiliated third party for our Vivos Center located at 9135 Ridgeline Boulevard, Highlands Ranch, Colorado. This lease expires
in January 2029. Terms of the office provide for a base rent payment of $5,465 per month and a share of the building’s operating
expenses such as taxes and maintenance of $3,273 per month. Effective May 20, 2019, we entered into a lease at 7001 Tower Road, Denver,
Colorado for 14,732 rentable square feet for the Vivos Institute and amended the lease effective March 11, 2022 to increase the premises
by 9,129 rentable square feet for a total of 23,861 rentable square feet. This facility was built primarily as a training facility where
our VIPs are trained and the additional square footage is for office space and fulfillment. We believe that these facilities are adequate
for our current and near-term future needs.
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