Item 2. Properties
ITEM
2. PROPERTIES
We
lease approximately 20,296 square feet for our primary corporate office and R&D facility located at 55G East Beaver Creek Rd., Richmond
Hill, Ontario L4B 1E5, Canada pursuant to a five-year lease, dated June 1, 2022, for a variable rate averaging $27,934 CAD per month
over the lifetime of the lease. We also pay approximately $5,584 CAD in additional fees per month, which varies year to year.
We
also lease approximately 14,178 square feet, originally used for R&D space and additional offices, located at 7299 E Danbro Crescent,
Mississauga, Ontario L5N 6P8, Canada pursuant to a three-year lease dated April 16, 2021, and terminating on May 31 st of 2024
for $23,971 CAD per month.
We
have purchased an approximately 152,847 square foot facility located at 2500 N America Dr., West Seneca, NY 14224 to serve as our new
OEM facility. This facility meets our OEM manufacturing needs both now and in future years, as the facility contains ample space in which
to grow.
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.