PMGC Holdings Inc. 10-K

Item 2. Properties. Our principal executive office is located at 120 Newport Center Drive, Newport Beach, CA 92660. The office has 500 square feet, and the lease runs from March 2024 to February 2025 . The monthly rent is $1,725. Our medical grade production laboratory spaces are located at 1743 Creekside Dr. Folsom, CA 95630 (the “1743 Lab”), and 1739 Creekside Dr. # 110 Folsom, CA 95630 (the “1739 Lab”). Our 1743 Lab has 1,388 square feet while our 1739 Lab has 1,600 square feet and the lease for both the 1743 Lab and 1739 Lab runs from June 2022 to May 2025. The monthly rent for both the 1743 Lab and 1739 Lab is $13,476.75. The following table sets forth the leases term and monthly rent: Lease Term Address Space (square feet) Average Monthly Rent March 2024 to February 2025 120 Newport Center Drive, Newport Beach, CA 92660 500 $ 1,725 June 2022 to May 2025 1739 Creekside Dr., Ste. 110 Folsom, CA 95630 1,388 $ 13,476.75 (1) June 2022 to May 2025 1743 Creekside Dr. Folsom, CA 95630 1,600 (1) Our average monthly rental payment of $13,476.75 includes one payment for our laboratory locations at both 1739 and 1743 Creekside Dr. Folsom, CA 95630. We use these facilities for administrative purposes, research and development, manufacturing of our products and analysis by our laboratory. We believe that these facilities will satisfy our current manufacturing and research and development needs over the next 24 months. However, if we decide to expand our manufacturing capabilities in order to begin the developing the means produce a new topical haircare product within the next 12 months, we estimate we would require a capital intensive purchase of laboratory new equipment and funds to arrange testing protocols in amounts between $250,000 and $300,000 to establish that type of capability over the course of an estimated seven to eighteen months. Some members of our management work outside of these premises in office space that we do not rent.