Item 2. Properties
ITEM
2. PROPERTIES
The
Company has the following properties:
The
Company has moved its corporate activities to New York City with a month-to-month lease of 2,500 square feet of office space at a rate
of $13,000 per month.
The
Company’s IS segment owns approximately 25,000 square feet of warehouse space in Manchester, PA and approximately 43,000 square
feet of office and warehouse space in York, PA. The IS segment also leases approximately 15,500 square feet of warehouse space in Emigsville,
PA from a third party in a three-year lease at a monthly rent of $4,555 expiring on August 31, 2022.
The
Company’s AT segment leases (i) approximately 6,700 square feet of office and warehouse space in Pune, India from a third party
in an five year lease at a monthly rent of $6,453 (INR456,972) expiring on February 28, 2024, (ii) approximately 30,000 square feet of
office and warehouse space in Hauppauge, New York from a third party in a seven-year lease at a monthly rent of $28,719 expiring on March
31, 2027, (iii)approximately 4,570 square feet of office space in El Dorado Hills, California in a 63 month lease assumed by the company
upon the acquisition of VDI expiring on November 30, 2022, and (iv) approximately 9,400 square feet of office and warehouse
space in Hampshire, England in a fifteen-year lease with at a monthly rent of $7,329 (£5,771) which expires on March 24, 2031 and
contains provisions to terminate in 2026.
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