Item 2. Properties
Item 2. Properties.
As of December 31, 2021, we had five leased properties and one hemp farm that we owned in the following locations:
City
State
Corporate Headquarters
Buffalo
NY
Research and Development Laboratory
Rockville
MD
Manufacturing Facility and Warehouse
Mocksville
NC
Tobacco Storage Warehouse
Wilson
NC
Office Space
Paoli
PA
Hemp Farm
Crawford
CO
In April 2021, the Company relocated our corporate headquarters to downtown Buffalo, NY. The new leased office space is in a state-of-the-art facility joined by other multinational technology and professional services companies. In June 2021, the Company acquired the ownership of Needle Rock Farms, our 224 acre hemp farm in Crawford, CO. In December 2021, the Company relocated our R&D laboratory from Buffalo, NY to Rockville, MD. The new laboratory space has over four thousand square feet and is expected to support the Company’s continued growth and R&D partnerships. In addition, the Company leases a small office space in Paoli, PA. Refer to Note 4 to our consolidated financial statements for additional information.
We believe that all facilities are adequate for our current needs.
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