Item 2. Properties
ITEM
2 - PROPERTIES
Our
corporate group and packaging division occupied 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 then
relocated 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 $78,000 per month in year
twelve. Our DSS Asia division leases a 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, 2024 for approximately $12,000 per month. In March 2021, the Company leased approximately 3,800 sq. ft. in Houston
for approximately $4,400 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.
22
Part
II
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