What changed in this filing

/stocks — the workspaceLOADING

Item 2. Properties

2025-09-29 compared with 2024-09-30 · 49 added, 5 removed, 21 unchanged (72% of the section changed)

20 unchanged sentences

from the Company is $21,600 per year.

We believe these facilities in Gardner, El Paso and

Windham are adequate for our current operations and are adequately covered by insurance.

Significant increases in production or the addition

of significant equipment additions or manufacturing capabilities in connection with manufacturing, however, require improvements to existing

facilities or the acquisition or lease of additional facilities.

On May 13, 2025, the Company entered into a First

Lease Extension Agreement (the “Extension”) with Texzona Industries, Inc., pursuant to which the Company will continue to

lease approximately 9,375 square feet of commercial space located at 1410 Gail Borden, El Paso, Texas.

The term of Extension is for a

period of 36 months commencing on June 1, 2025 and shall end on May 31, 2028.

Base rent for each year of the term is $49,219, $50,695

In addition to base rent, the Company is responsible for taxes, insurance and common area maintenance (“CAM”).

Beginning June 1, 2025, the total estimated monthly rental payment including CAM is $5,773.

On May 14, 2025, the Company entered into a Lease

Agreement (the “Southborough Lease”) with 500 Southborough, LLC, pursuant to which the Company has leased approximately 8,750

square feet of commercial space located at 500 Southborough Drive, City of South Portland, County of Cumberland, Maine.

The commencement

date was August 1, 2025.

The Southborough Lease provides the Company with two options to extend the term for additional five-year periods,

exercisable with at least nine months’ prior written notice.

Base rent for the initial term is abated for the first five months

following the commencement date, after which annual base rent payable is $131,250 (or $10,937.50 per month), with annual increases of

Base rent for any extension term will be as agreed by the parties or, if not agreed, at 95% of the then-current fair market base rental

rate for similar space in South Portland, as determined by appraisal, with annual increases of 3% during each extension term.

In addition to base rent, the Company is responsible

for its proportionate share (19.34%) of Operating Expenses, as defined in the Lease.

The Lease is structured as a triple net lease.

Company was entitled to a tenant improvement allowance of $25 per rentable square foot for fit-up costs and $0.15 per rentable square

foot for architectural costs, to be disbursed as costs are incurred.

The Landlord was responsible for completing certain improvements

to the Premises prior to occupancy, including interior wall construction, loading area, and separate utility metering.

The lease commencement

date of the Southborough Lease was August 1, 2025.

On June 2, 2025, the Company entered into a Lease

Agreement (the “Lease”) with 550 King Street, LLC (the “Landlord”), pursuant to which the Company has leased approximately

19,590 rentable square feet of commercial space located at 550 King Street, Building A, Suite 100, Littleton, Massachusetts (the “Premises”).

The Lease provides for an initial term of seven and one half (7.5) years, commencing upon substantial completion of tenant improvements

and receipt of a certificate of occupancy (the “Term Commencement Date”).

The Term Commencement Date was September 10, 2025.

The Lease includes two options to extend the term

for additional five-year periods, exercisable with at least nine months’ prior written notice.

Base rent for the initial term is

abated for the first six months following the Term Commencement Date, after which base rent is payable as follows:

The annual base rent

for the first year of the lease is $361,435.50 (or $30,119.63 per month), and such annual base rent increases by three percent (3%) each

lease year over the previous year’s annual base rent.

In addition to base rent, the Company is responsible for its pro-rata share

(7.22%) of real estate taxes and operating expenses, as further defined in the Lease.

The Lease provides for the permitted use of the

Premises for general office, laboratory, manufacturing, warehousing, showroom, and related legal uses.

The Lease grants the Company a

right of first offer on contiguous space that becomes available in the building during the lease term or any extension.

The extensions associated with the leases discussed

above have been accounted for with the assumption that they will not be extended.

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