Item 2. Properties
ITEM
2.
PROPERTIES
We
do not own any real property. We entered into a lease for our current corporate office space at 2420 Brunello Trace, Lutz, Florida 33558
on November 8, 2021. The lease included a five-year term, beginning January 1, 2022, and ending December 31, 2026. The office space occupies
approximately 9,850 square feet. Pursuant to the lease, the Company is responsible for water/sewer costs ($140 per month) and its proportionate
share of the building’s operating expenses, including property taxes. We paid a security deposit of $38,500 in connection with
our entry into the agreement, which was surrendered upon termination of the lease in November 2023.
We
entered into a lease for Integra Pharma Solutions, LLC at 6308 Benjamin Road, Tampa, Florida 33634 for approximately $43,000 per year
($3,583 per month) under a five-year lease agreement, effective October 17, 2018, occupying approximately 6,300 square feet.
We
entered into a lease for Superlatus Food Service Holding Company, LLC at 20 Sarine Road, Wurtsboro, New York 12790 for approximately
$132,000 per year ($11,000 per month) under a three-year lease agreement, effective October 1, 2023. As a result of our divestiture of
Superlatus in March 2024 we no longer have obligations related to this lease.
We
believe our current and future facilities are adequate for our current and near-term needs. Additional space may be required as we expand
our activities. We do not currently foresee any significant difficulties in obtaining any required additional facilities.
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