Item 2. Properties
ITEM
2. PROPERTIES
Offices
The
Company maintains its corporate office at 3710 Buckeye Street, Suite 120, Palm Beach Gardens 33410. The Company’s telephone number
is 888-607-3555. On August 30, 2019, the Company signed a lease for a period of twenty-four (24) months from November 1, 2019, through
October 31, 2021. In December 2020, this lease was extended for twelve (12) months, and in August 2022, extended the lease for two more
years until October 31, 2024. The most recent extension is until October 31, 2029. Annual rent in the latest lease extension commenced
at approximately $109,205 per annum and increases on a year-to-year basis by three percent (3%) over the base year. In addition, the
Company is obligated to pay an amount equal to 10.41% of the operating expenses of the building together with sales tax on all amounts.
This office space includes the Company’s research and demonstration facilities.
ITEM
3. LEGAL PROCEEDINGS
The
Company is subject, from time to time, to litigation, claims and suits arising in the ordinary course of business. As of the date of
filing, there are no material claims or suits whose outcomes could have a material effect on the Company’s financial statements.
ITEM
4. Mine Safety Disclosures
Not
applicable.
6
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.