Company: LRHC
Filing Date: 2025-11-19
Form Type: 10-Q
Source: 0001213900-25-112656
Chunk: 172

Company: La Rosa Holdings Corp.
Filing Date: 2025-11-19
Form: 10-Q
Item: Item 8
Chunk 172
---

    Current portion: 

    Less: current portion-SSPNs 
     -  
     (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 
    $9,321,562  
    $1,475,064 

22

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.

During
July 2025, the Company renewed its lease of the corporate office space in Celebration, FL, which is owned by an entity controlled by
our CEO. The Celebration lease requires monthly payments of $12,000. The Celebration lease is initially for a one-year term, with
option for renewal.

During
August 2025, the Company entered into a new lease for office space in Puerto Rico. The Puerto Rico lease requires monthly payments of
$1,250. The Puerto Rico lease is initially for a five-year term, with no written option for renewal.

Lease