Item 2. Properties
ITEM 2. PROPERTIES.
Our company currently operates out of three strategically
located facilities, which cater to different aspects of our business:
Sydney, Australia: We rent an office/warehouse
space of approximately 2,080 Sq foot. Our office/warehouse facility serves three fundamentals purposes and is used in connection with
operations falling under both our IFPG and SGBP segments. First, it provides dedicated office space for our administrative staff, who
are responsible for managing and overseeing the Company’s operations. Second, the facility houses our new Australian sales and marketing team,
offering them both office and warehouse space. Third, the location functions as a distribution hub for expanding sales across the Asia-Pacific
market, optimizing our logistics and reach in the region.
Cambridge, England: We rent a multifunctional facility in the UK
consisting of approximately 11,500 Sq foot, which is integral to our global operations falling under our IFPG segment. It houses office space,
a warehouse, research and development (R&D), and manufacturing capabilities, catering to the UK market and our global supply needs.
Currently, our manufacturing facility can produce up to 90,000 cartridges per month. Our production rate stands at approximately 12,000
cartridges per month, providing ample room for growth in the coming years.
New York City, United States: We have a small,
shared office space in New York that accommodates our two US employees, fostering closer collaboration and communication. This location
provides a focal point for all our global operations and solidifies our presence and commitment to the US market.
We have no immediate plans to
upgrade or expand our facilities, given that they are currently adequately meeting our needs. However, we are open to establishing permanent
offices for regional heads as required in the future, ensuring that we are well positioned to adapt and grow as our business evolves.
ITEM 3. LEGAL PROCEEDINGS.
From time to time, we may be subject to legal proceedings
and claims arising in the ordinary course of business. We are not currently engaged in any material legal proceedings.
ITEM 4. MINE SAFETY DISCLOSURES.
Not applicable.
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PART II
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