−Removed: Our principal executive offices are currently located in a leased facility of approximately 23,100 square feet located in Winter Springs, Florida.
−Removed: This facility has been leased from an entity controlled by our founder, President, Chief Executive Officer, and Chairman of the Board of Directors, Roger Susi, Susi LLC.
−Removed: On May 29, 2024, the Company entered into a lease amendment (the “Lease Amendment”) with Susi, LLC under which it did not exercise the second five-year option because of the Company’s continued construction of a new corporate office and manufacturing facility in Orange County, Florida, to accommodate our increased operations and anticipated growth.
−Removed: Pursuant to the terms of the Lease Amendment, the monthly base rent is $34,133, adjusted annually for changes in the consumer price index, and the Lease Amendment has an expiration date of May 31, 2025, and includes an option to renew on a month-to-month basis for up to six months thereafter.
−Removed: This Lease Amendment does not contain any residual value guarantee or material restrictive covenants
−Removed: In February 2023, we entered into two, two-year, non-cancelable operating leases for approximately 5,400 square feet of additional office space in Winter Springs, Florida.
−Removed: Pursuant to the lease terms the total monthly base rent is $10,055.
−Removed: For the twelve months ended December 31, 2024 and 2023, the Company paid $126,522 and $110,605 respectively.
−Removed: Under the terms of the leases, we are responsible for insurance and maintenance expenses.
−Removed: Pursuant to the contract terms, these leases expired February 2025, which the Company did not extend, and does not contain any residual value guarantee or material restrictive covenants.
+Added: During the third quarter of 2025, the Company completed construction and took occupancy of its New Facility with approximately 62,000 square foot, corporate office and manufacturing facility in Orlando, Florida.
+Added: The New Facility maintains the Company’s corporate headquarters and primary manufacturing operation in a single purpose-built location designed to support current operations and future growth.
+Added: The Company funded the construction entirely with cash, and the property is wholly owned with no outstanding debt.
+Added: Prior to occupying the New Facility, the Company leased office and manufacturing space to support its operations during the first and second quarters of 2025.
+Added: Following the completion of construction, the Company transitioned its operations to the New Facility in the third quarter of 2025 and the applicable leases were terminated in accordance with their contracts.
+Added: The New Facility will accommodate the Company’s operational and manufacturing needs for the foreseeable future and provides available space and flexibility for growth and expansion.
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.