Company: LRHC
Filing Date: 2025-05-29
Form Type: 10-Q
Source: 0001213900-25-048370
Chunk: 106

Company: La Rosa Holdings Corp.
Filing Date: 2025-05-29
Form: 10-Q
Item: Item 8
Chunk 106
---
     468,000 
  
    Senior secured promissory note #4 
     15,295,000  
     - 
  
    Promissory note payable 
     -  
     148,725 
  
    Economic injury disaster loans (EIDL) 
     645,906  
     647,630 
  
    Acquisition Settlement Agreement 
     940,476  
     976,190 
  
    Total    
    $16,881,382  
    $3,662,737 

    Current portion: 

    Less: current portion-SSPNs 
     (15,295,000) 
     (1,890,192)
  
    Less: current portion-Promissory note payable 
     -  
     (148,724)
  
    Less: current portion-EIDL 
     (5,900) 
     (5,900)
  
    Acquisition Settlement Agreement 
     (142,857) 
     (142,857)
  
    Notes payable, net of current 
    $1,437,625  
    $1,475,064 

14

La Rosa Holdings Corp. and Subsidiaries
Notes to the Unaudited Condensed Consolidated Financial Statements

Note 6 — Commitments and Contingencies

Leases

The Company has operating leases for office space
in several states. Lease terms are negotiated on an individual basis. Generally, the leases have initial terms ranging from one to five
years. Renewal options are typically not recognized as part of the right of use assets and lease liabilities as it is not reasonably certain
at the lease commencement date that the Company will exercise these options to extend the leases. Leases with an initial term of twelve-months
or less that do not include an option to purchase the underlying asset are not recorded on the consolidated balance sheets and are expensed
on a straight-line basis over the lease term.

The Company leases its corporate office from an entity controlled by
the Company’s CEO. In addition, some of the entities acquired lease their offices from their former owners, who now hold a minority
interest in those entities.

During January 2025, the Company entered into
a new lease for office space in Orlando, FL. The Orlando lease requires monthly payments of $5,170. The Orlando lease is initially for
a five-year term, with no written option for renewal.

Lease