Item 2. Properties
ITEM
2 – PROPERTIES
In
November 2021, we entered into two operating lease agreements extending the leases on our 24,000 square foot production and warehousing
facilities in Tijuana, Mexico through November 2023. The Company performs most of the final assembly, testing, packaging, warehousing
and distribution at these facilities.
We
lease 3,218 square feet of office space located in Canton, Massachusetts under an operating lease agreement. In December 2021, the Company
executed an amendment to extend the lease to May 2024.
We
also lease our principal executive offices in Manchester, New Hampshire, from a related party (refer to Note 12 in the Notes to the Consolidated
Financial Statements), which totals approximately 2,656 square feet. The lease is month-to-month with a 60-day termination notification.
We
believe that these facilities are suitable and sufficient to meet our current and anticipated needs in the near term and that additional
space can be obtained on commercially reasonable terms as needed.
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