Aloha Richie,
From the 10QSB, "The Company has executed an agreement on August 1, 2008 to lease approximately 98,500 square feet of a commercial building in Magog, Canada that will be the site of its first recycling plant (see Note 2). The term of this lease is five years, with annual rent equal to $2.25 USD per square foot (approximately $221,700, or $18,475 per month) for the first year, with annual base rent escalations of $1.00 per square foot, resulting in annual rent in the fifth year of $6.25 per square foot (approximately $615,800, or $51,320 per month). The Company is also responsible for real estate taxes, utilities and other general maintenance of the premises."
A rather good deal for that much space if you ask me, and as I understand it - some government assistance is involved.
Makamai
Makamai
