Item 2. Properties
ITEM
2. Properties
The
address of our principal executive offices is 205 SE Davis Ave., Suite C, Bend, Oregon 97702. We do not maintain offices at this address
and do not own or lease office or other space in the United States. Each of our U.S. employees works remotely and we pay for meeting
and office space on an as needed basis with no long-term commitment.
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On
May 10, 2024, we entered into a ten-year lease for the 50,000 square-foot Peru Facility. The lease of the Peru Facility requires monthly
lease payments of $8,000 in the first two years of the lease, $20,000 in the third year of the lease, $22,000 in the fourth year of the
lease, $24,000 in the fourth year of the lease, and $25,000 thereafter. The lease also has a 10-year renewal option, and a buy-out option
under which we may purchase the Peru Facility for $1,865,456.
We
believe that our current facilities are adequate for our current needs.
ITEM
3. Legal Proceedings
From
time to time, we may be involved in various disputes and litigation matters that arise in the ordinary course of business. We are not
currently engaged in any material legal proceedings.
ITEM
4. MINE SAFETY DISCLOSURES
Not
applicable.
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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.