What changed in this filing

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Item 2. Properties

2024-04-16 compared with 2023-03-31 · 38 added, 40 removed, 11 unchanged (88% of the section changed)

lease our scrap yard located at 22097 Brewers Neck Blvd., Carrollton, VA 23314, from DWM Properties, LLC, which is owned by our Chairman

and Chief Executive Officer, for $55,850 per month.

The lease expires on January 1, 2024, with two five year options to extend at the

Company’s election.

lease our scrap yard located at 1576 Millpond Rd., Elizabeth City, NC 27909, from DWM Properties, LLC, which is owned by our Chairman

and Chief Executive Officer, for $11,200 per month.

The lease expires on January 1, 2024, with two five year options to extend at the

Company’s election.

lease our scrap yard located at 130 Courtland Rd., Emporia, VA 23847, from DWM Properties, LLC, which is owned by our Chairman and Chief

Executive Officer, for $11,200 per month.

The lease expires on January 1, 2024, with two five year options to extend at the Company’s

lease our scrap yard located at 623 Highway 903 N., Greenville, NC 27834, from DWM Properties, LLC, which is owned by our Chairman and

Chief Executive Officer, for $11,200 per month.

The lease expires on January 1, 2024, with two five year options to extend at the Company’s

lease our scrap yard located at 8952 Richmond Rd., Toano, VA 23168, from DWM Properties, LLC, which is owned by our Chairman and Chief

Executive Officer, for $11,200 per month.

The lease expires on January 1, 2024, with two five year options to extend at the Company’s

lease our scrap yard located at 945 NC 11N, Kelford, NC 27805, from DWM Properties, LLC, which is owned by our Chairman and Chief Executive

Officer, for $39,293 per month.

The lease expires on January 1, 2024, with two five year options to extend at the Company’s election.

lease our scrap yard located at 1100 E Princess Anne Rd, Norfolk, VA 23504, from DWM Properties, LLC, which is owned by our Chairman

and Chief Executive Officer, for $16,391 per month.

The lease expires on January 1, 2024, with two five year options to extend at the

Company’s election.

lease our scrap yard located at 277 Suburban Drive, Suffolk, VA 23434, from DWM Properties, LLC, which is owned by our Chairman and Chief

Executive Officer, for $15,450 per month.

The lease expires on January 1, 2024, with two five year options to extend at the Company’s

lease our scrap yard located at 9922 Hwy 17 S., Vanceboro, NC 28586, from DWM Properties, LLC, which is owned by our Chairman and Chief

Executive Officer, for $8,742 per month.

The lease expires on January 1, 2024, with two five year options to extend at the Company’s

lease our scrap yard located at 1040 Oceana Blvd, Virginia Beach, VA 23454, from DWM Properties, LLC, which is owned by our Chairman

and Chief Executive Officer, for $15,407 per month.

The lease expires on January 1, 2024, with two five year options to extend at the

Company’s election.

lease our scrap yard located at 406 Sandy Street, Fairmont, NC 28340, from DWM Properties, LLC, which is owned by our Chairman and Chief

Executive Officer, for $8,000 per month.

The lease expires on January 1, 2024, with two five year options to extend at the Company’s

lease our scrap yards located at:

22097 Brewers Neck Blvd., Carrollton, VA 23314;

1576 Millpond Rd., Elizabeth City, NC

27909, 130 Courtland Rd., Emporia, VA 23847;

623 Highway 903 N., Greenville, NC 27834;

8952 Richmond Rd., Toano, VA 23168;

11N, Kelford, NC 27805;

1100 E Princess Anne Rd, Norfolk, VA 23504;

277 Suburban Drive, Suffolk, VA 23434;

9922 Hwy 17 S.,

Vanceboro, NC 28586;1040 Oceana Blvd, Virginia Beach, VA 23454;

406 Sandy Street, Fairmont, NC 28340, from DWM Properties, LLC,

which is controlled by the Company’s Chief Executive Officer, on a month-to-month basis for an aggregate of $54,970 per

lease office space at 505 Crawford Street, Portsmouth, VA 23704 for $1,185 per month.

The lease expires on March 31, 2024.

The lease expired on March 31, 2024.

January 24, 2022, the Company entered into leasing agreements for 3,521 square feet of office space commencing upon the completion of

6 unchanged sentences

own the property underlying our scrap yard located at 4091 Portsmouth Blvd., Portsmouth, VA 23701.

Further, we own properties

located at 278 and 276 Suburban Drive, Suffolk, VA 23434 and 4087, 4089, 4091, 4103, 4105 and 4117 Portsmouth Blvd, Portsmouth, VA

Further, we own properties located

at 278 and 276 Suburban Drive, Suffolk, VA 23434 and 4087, 4089, 4091, 4103, 4105 and 4117 Portsmouth Blvd, Portsmouth, VA 23701.

lea se the property located at 101

Freeman Ave, Chesapeake, VA 23324 a s a yard for our truck fleet from DWM Properties, LLC, which is controlled by the Company’s

Chief Executive Officer, on a month-to-month basis for $9,000 per month.

The lease expires on January

1, 2025 and the Company has two options to extend the lease by 5 years per option.

The Company also has the option to extend the term

of the lease for an additional year for the next 5 years upon the same terms and conditions.

In the event the Company does not exercise

the options, the lease will continue on a month-to-month basis.

The Company cannot sublease the property under the lease agreement.

March 15, 2024, the Company entered into leasing agreements for a scrap yard located at 3030 E 55th Street, Cleveland, OH 44127.

the terms of the lease, the Company is required to pay $17,000 from March 1, 2024 to February 28, 2025;

$23,000 from March 1, 2025 to

February 28, 2026;

$23,000 from March 1, 2026 to February 28, 2027;

$23,000 from March 1, 2027 to February 28, 2028;

and increasing by

the greater of 3% and the CPI every 12 months thereafter until the expiration of the lease.

The lease is for a period of five years,

include two options to extend for five years each, and the Company was required to make a security deposit of $17,000.

The Company has

the option to purchase the property for $3,277,000 until February 28, 2024.

believe that our facilities are adequate for our current needs and that, if required, we will be able to expand our current space or

1 unchanged sentence

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 2. Properties