Company: LRHC
Filing Date: 2025-08-18
Form Type: 10-Q
Source: 0001213900-25-078012
Chunk: 37

Company: La Rosa Holdings Corp.
Filing Date: 2025-08-18
Form: 10-Q
Item: Item 1
Chunk 37
---
 2025 
  
    2025 – remainder of year 
    $268,614 
  
    2026 
     483,888 
  
    2027 
     301,678 
  
    2028 
     130,929 
  
    2029 and thereafter 
     152,316 
  
    Total minimum lease payments 
     1,337,425 
  
    Less: imputed interest 
     (217,833)
  
    Present value of lease obligations 
     1,119,592 
  
    Less: current portion 
     (407,905)
  
    Long-term portion of lease obligations 
    $711,687 

There were no leases with residual value guarantees.

Legal Proceedings

From time to time the Company is involved in
litigation, claims, and other proceedings arising in the ordinary course of business. Such litigation and other proceedings may include,
but are not limited to, actions relating to employment law and misclassification, intellectual property, commercial or contractual claims,
brokerage or real estate disputes, or other consumer protection statutes, ordinary-course brokerage disputes like the failure to disclose
property defects, commission disputes, and vicarious liability based upon conduct of individuals or entities outside of the Company’s
control, including agents and third-party contractor agents. Litigation and other disputes are inherently unpredictable and subject to
substantial uncertainties and unfavorable resolutions could occur.

On February 13, 2023, Mr. Mark Gracy, who served
as our Chief Operating Officer from November 18, 2021 to November 15, 2022, filed a civil lawsuit in the Circuit Court of Osceola County,
Florida, seeking a jury trial and claiming that the Company breached his employment agreement by reducing his salary and failing to pay
him his full severance payments and is looking for payment of his alleged severance of $249,000. Discovery is proceeding, mediation is
scheduled for August 25, 2025. The Company denies the merits of the claims and intends on vigorously defending the litigation.

18

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

On January 3, 2024, Ms. Sarah Palmer filed a
putative national class action complaint against La Rosa Realty, LLC in the United States District Court, Middle District of Florida,
Orlando Division. Ms. Palmer alleges that she received two (2) brief pre-recorded calls one