Item 2. Properties
Item
2. Properties
We
currently lease 2,510 square feet at 215 Gordons Corner Road, Manalapan, NJ, 07726 under a five (5) year lease that commenced
on March 15, 2017 for approximately $43,000 per annum with 2.5% annual scheduled rent increases. We believe we can obtain additional
facilities required to accommodate projected needs without difficulty and at commercially reasonable prices, although no assurance
can be given that we will be able to do so. Currently, our Gordons Corner Road office is headquarters for all our subsidiary operations.
MedRecycler-RI, Inc. has entered into a lease for the Rhode Island Project at 1600 Division Road, West Warwick, RI, 02893. The
lease is for ten (10) years, commencing on March 1, 2019 for approximately $192,668.00 per annum, increasing annual at a rate
of five percent (5%). The space leased is approximately 48,000 square feet.
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