What changed in this filing

/stocks — the workspaceLOADING

Item 2. Properties

2021-03-31 compared with 2020-03-30 · 21 added, 33 removed, 3 unchanged (95% of the section changed)

Our principal executive

office is located at 2117 SW Highway 484, Ocala FL 34473 and our finance and human resource office is located at 604 Main Street,

Suite 2, Riverton, NJ 08077.

We currently lease our principal executive office for $2,100 per month and our accounting

and human resource office for about $1,500 per month.

In May 2017, we entered

into a mortgage and note payable agreement with a bridge funding company to obtain a two-year funding line of up to $4,000,000

secured by our assets and property located at 783 Jersey Ave., New Brunswick, New Jersey.

As of March 16, 2018, this note was

paid off in full.

See Note 14 - Note Payable below for a more complete description of the terms of the note payable.

On March 16, 2018, we

sold our property located at 783 Jersey Ave., New Brunswick, NJ.

This property houses our development and production facilities.

principal executive office is located at 2117 SW Highway 484, Ocala FL 34473 and our finance and human resource office is located

at 604 Main Street, Suite 2, Riverton, NJ 08077.

We currently lease our principal executive office for $2,100 per month and our

accounting and human resource office for about $1,500 per month.

March 16, 2018, we sold our property located at 783 Jersey Ave., New Brunswick, NJ.

This property houses our development and production

The purchase price was $4,080,000 and purchaser received 3,225,806 warrants to purchase common stock.

We believe that the sale

and lease-back of this building will not have a material impact on our business operations.

Simultaneously with the closing of

the sale, the purchaser leased the facility back to us.

We believe that

the sale and lease-back of this building will not have a material impact on our business operations.

Simultaneously with the closing

of the sale, the purchaser leased the facility back to us.

The lease runs for 10 years, with two five-year extensions.

initial annual base rent is $408,000 and will continue for the first and second year.

In the third and fourth it will escalate

at the rate of 2.5% per year.

annual base rent is $408,000 and will continue for the first and second year.

In the third and fourth it will escalate at the

rate of 2.5% per year.

For all subsequent years it will escalate at the rate of 3% per year.

We also will be responsible

for additional rent consisting of taxes and certain insurance expenses of the purchaser.

The lease contains a repurchase option

pursuant to which we can repurchase the facility within the initial 10 year lease period.

The purchase price would be based on

a multiple of the sale price of $4,080,000.

The multiple would be 1.05 plus .0025N where N represents the number of months between

lease commencement and closing of repurchase.

In February 2018, the

Company sold the unencumbered, unutilized, and wholly owned property located at 5 Jules Lane, New Brunswick, New Jersey to Acellories,

NJ LLC, a New Jersey limited liability company, pursuant to a sale agreement dated September 11, 2017.

The sale price was $1,050,000.

We also will be responsible for additional

rent consisting of taxes and certain insurance expenses of the purchaser.

The lease contains a repurchase option pursuant to which

we can repurchase the facility within the initial 10 year lease period.

The purchase price would be based on a multiple of the

sale price of $4,080,000.

The multiple would be 1.05 plus .0025N where N represents the number of months between lease commencement

and closing of repurchase.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 2. Properties