Item 2. Properties
ITEM
2 - PROPERTIES
Our
corporate group and packaging division occupy a 40,000 square foot packaging and printing plant owned by the Company in Victor, New York,
a suburb of Rochester, New York. This building was sold in March 2022. The corporate group and the packaging division will be relocating
to an approximate 105,000 square foot leased facility located at 275 Wiregrass Parkway, Henrietta, New York in March 2022. This
lease expires twelve years and 3 months later. Base rents escalate from $61,000 per month in year one to $76,000 per month
in year twelve. Our DSS Asia division leases commercial office space in Hong Kong under a lease that expires August 31, 2023 for
approximately $5,700 per month. Our Multilevel Marketing or Direct Selling division leases commercial office space in Irving, Texas under
a lease that expires January 1, 2022 for approximately $12,000 per month. This lease will continue on a month to month basis until a
new lease is signed. In March 2021, the Company leased approximately 1,848 sq. ft. in Houston for approximately $2,000 per month,
Texas at 1400 Broadfield Blvd., Suite 100, for corporate offices and subsidiary expansion. In November 2021, the Company leased
2,279 sq. ft. in California for our securities business line for approximately $2,800 per month. We believe that our facilities are
adequate for our current operations.
ITEM
3 - LEGAL PROCEEDINGS
As
disclosed in Note 16 to the Consolidated Financial Statements, the Company is engaged in certain legal matters, and the disclosure
set forth in Note 16 relating to certain legal matters is incorporated herein by reference.
ITEM
4 - MINE SAFETY DISCLOSURES
Not
applicable.
Part
II
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