Item 2. Properties
ITEM
2. PROPERTIES
OmniMetrix’s
activities are currently conducted in approximately 21,000 square feet of office and production space in the Hamilton Mill Business
Park located in Buford, Georgia under a lease that has been extended from its original expiration date of April 30, 2020 to September
30, 2025. The annual total of rent payments in 2020 was approximately $78,000 which reflects eight months of rent and four free
months for which the expense is amortized over the term of the lease. For 2021, the annual rent payments will
be approximately $119,000. OmniMetrix is currently utilizing only a portion of these leased facilities and expects to grow into
a portion of the currently unused space and potentially sublease several available executive office spaces.
ITEM
3. LEGAL PROCEEDINGS
None.
ITEM 4. MINE SAFETY DISCLOSURES
Not applicable.
15
PART
II
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.