Item 2. Properties
ITEM
2. PROPERTIES
As
of December 31, 2024, we had three facilities located throughout the U.S. and Canada. One of these facilities are owned and the remainder
are leased. Our principal facilities are as follows:
Address
Type
Ownership
Size
(sq ft)
2500
N America Dr., West Seneca, NY 14224, U.S. (1)
Corporate
Headquarters, Warehouse, and Manufacturing
Owned
and mortgaged
152,847
55G
East Beaver Creek Rd., Richmond Hill, Ontario L4B 1E5, Canada (2)
Office,
R&D Facility
Rented
20,296
5146
N. 23rd St. Ozark, MO 65721, U.S. (3)
Office,
R&D Facility
Rented
3,600
(1)
For
further information on the property mortgage, see Note 13 - Indebtedness of Part II Item 8, Financial Statements and Supplementary
Data, of this report.
(2)
Five-year
lease, dated June 1, 2022, for a variable rate averaging $27,934 CAD per month over the lifetime of the lease not inclusive of additional
fees, which also vary and averaged $6,832 CAD per month in 2024 not inclusive of taxes.
(3)
Twelve-month
lease dated June 1, 2023 - renewed effective June 1, 2024 at $3,600 USD per month with a termination date of May 31, 2025.
(4)
Three-year
lease dated April 16, 2021 and terminated on May 31,f 2024 for $23,971 CAD per month.
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.