What changed in this filing

/stocks — the workspaceLOADING

Item 2. Properties

2026-06-15 compared with 2025-04-15 · 27 added, 19 removed, 25 unchanged (65% of the section changed)

9 unchanged sentences

Portsmouth, VA 23701.

lease the properties for our scrap yards located at 130 Courtland Rd., Emporia, VA 23847;

1100 E Princess Anne Rd, Norfolk, VA 23504;

277 Suburban Drive, Suffolk, VA 23434 from third parties.

Company leases its facilities and certain automobiles under operating leases which expire on various dates through 2028.

determines if an arrangement is a lease at inception and whether it is a finance or operating leases.

Right of Use (“ROU”)

assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the obligation

to make lease payments from the lease.

Operating lease ROU assets and liabilities are recognized at the commencement date of the lease

based on the present value of lease payments over the lease term.

When readily determinable, the Company uses the implicit rate in determining

the present value of lease payments.

The ROU asset also includes any fixed lease payments, including in-substance fixed lease payments

and excludes lease incentives.

Lease expense for lease payments is recognized on a straight-line basis over the lease term.

is determined at lease commencement and includes any non-cancellable period for which the Company has the right to use the underlying

asset, together with any options to extend that the Company is reasonably certain to exercise.

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

tenant improvements which is expected to be on April 1, 2022 but shall be no later than May 1, 2022 (“Commencement Date”).

Under the terms of the lease, the Company is required to pay $3,668 for the first twelve months of the lease and increasing by approximately

tenant improvements by May 1, 2022 (“Commencement Date”).

Under the terms of the leases, the Company is required to pay $3,668 for the first twelve months of the lease and increasing by approximately

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

2 unchanged sentences

The Company does not have an option to extend the lease.

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 Company cannot

sublease any of the office space under the lease agreement.

March 15, 2024, the Company entered into leasing agreements for a scrap yard located in Cleveland, Ohio.

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

6 unchanged sentences

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.

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

May 2025, the Company entered into an amendment to the lease agreement that modified the rent payment schedule and added site clean-up

and waste management obligations.

Under the amended terms, rent was $23,000 for May 2025, $17,000 per month from June 1, 2025

through December 31, 2025, $18,500 per month from January 1, 2026 through December 31, 2026, and $20,000 per month from January 1, 2027

through February 28, 2028.

The Company remains responsible for payment of property taxes related to the premises.

All other material terms of the lease remain unchanged.

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