Rocky Mountain High Brands Inc (RMHB)

[oilsleuth]

The Company subleases its production facility at 1000 Shiloh Rd, Suite 200, Plano, TX for $31,195 per month. The lease terminates on April 30, 2023. The Company leases warehouse space on a month-to-month basis from Legendz Way Distribution Solutions, Grand Prairie, Texas.


New Facility (Right-of-Use Operating Lease)

On March 28, 2023, Rocky Mountain Productions, Inc. (a subsidiary of the Company) entered into a lease agreement for a new facility at 3540 14th Street, Plano, Texas 75074. The company plans on moving into the new facility in May 2023 and will no longer use the 1000 Shiloh Road facility. The lease term is 7 years and base rent for this location is as set forth below. The Company will account for this new lease pursuant ASC 842, ”Leases”.

$50,691.38 per month for months 1 through 24, inclusively;
$52,465.58 per month for months 25 through 36, inclusively;
$54,301.87 per month for months 37 through 48, inclusively;
$56,202.44 per month for months 49 through 60, inclusively;
$58,169.52 per month for months 61 through 72, inclusively; and
$60,205.46 per month for months 73 through 84, inclusively