UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Emerging Growth Company
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Item 1.01 |
| Entry into a Material Definitive Agreement. |
New Office Lease
On November 21, 2022, TREES Corporation (the “Company”) entered into an Office Building Lease (“Lease”) with Victex Colorado LLC (“Landlord”), pursuant to which the Company agreed to lease from Landlord, and Landlord agreed to lease to the Company, approximately 3,776 square feet of office space located at 215 Union Boulevard, Lakewood, Colorado 80228 (“Building”). The Lease is for the Company’s new principal executive offices. The term of the Lease commences on January 1, 2023 and continues through March 31, 2026. Rent is payable beginning in the month April 2023 (first three months are rent free) in the amount of $8,496 per month; beginning in April 2024 monthly rent is $8,653.33; and beginning in April 2025 monthly rent is $8,810.66. The Company must also pay its pro rata share, or 5.17%, of the operating expenses of the Building, which include real property taxes, supplies, energy, water, janitorial services, maintenance and repairs, insurance, labor, legal, certain capital improvements and certain other costs and expenses.
The Company has an option to renew the Lease for one three-year term upon not less than 180 days notice in advance of the end of the initial term.
The foregoing description of the Lease does not purport to be complete and is qualified in its entirety by reference to the full text of the Lease, annexed hereto as Exhibit 10.1, and is incorporated herein by reference.
Item 9.01Financial Statements and Exhibits.
(b)Exhibits.
Exhibit No. |
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10.1 | ||
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
Dated: November 25, 2022
| TREES CORPORATION | |
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| By: | /s/ Adam Hershey |
| Name: | Adam Hershey |
| Title: | Interim Chief Executive Officer |