Company: CPSH
Filing Date: 2025-03-17
Form Type: 10-K
Source: 0001437749-25-008029
Chunk: 17

Company: CPS TECHNOLOGIES CORP/DE/
Filing Date: 2025-03-17
Form: 10-K
Item: Item 2
Chunk 17
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Item 2. Properties

As of December 28, 2024, all of our manufacturing, engineering, sales and administrative operations were located in leased facilities in Norton, Massachusetts.

In February 2021, the Company extended the lease for the Norton facility through February 2026. The leased facilities comprise approximately 38 thousand square feet. The lease is a triple net lease wherein the Company is responsible for payment of all real estate taxes, operating costs and utilities. The Company also has an option to buy the property and a first right of refusal during the term of the lease. Annual rental payments for 2024 were $165 thousand.

While adequate for current business volumes, continued expected growth of our business may result in the need to move to a larger location, open a second location or expand our footprint at our current location.

Item 3. Legal Proceedings