Item 2. Properties
ITEM 2. PROPERTIES
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. 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. The Company funded the construction entirely with cash, and the property is wholly owned with no outstanding debt.
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. 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.
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.
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