Item 2. Properties
Item
2.
Properties.
On
May 13, 2020, the Company entered into an operating lease for new warehouse and office space which has served as its new
principal executive office and primary business location since June 15, 2020. Our facility contains approximately 16,531
square feet and is located at 15612 College Blvd, Lenexa, Kansas 66219. The lease terms, as amended, include no base rent
for the first nine months and monthly payments ranging from $12,398 to $14,741 thereafter, with a termination date of December
31, 2026.
On
February 24, 2021 the Company entered into a contract to purchase a 71,361 square foot building located in Lenexa, Kansas,
which is intended to serve as the Company’s office and warehouse needs. The building contains approximately 30,000 square
foot of office space and the remainder warehouse space. The total purchase price is approximately $5.3 million and is expected
to close on or around May 1, 2021.
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