Company: ZRCN
Filing Date: 2025-09-10
Form Type: 10-K
Source: 0001641172-25-027037
Chunk: 488

Company: ZRCN Inc.
Filing Date: 2025-09-10
Form: 10-K
Item: Item 2
Chunk 488
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We
lease facilities under an operating lease in Campbell, CA. through 2027. ZRCN and Zircon are headquartered in a 14,000 square foot building
in Campbell, CA. The Company also has inventory located in Ensenada, Mexico, the Netherlands, Canada, the United Kingdom and two of our
manufacturing subcontractors located in China.

We
believe our facilities are suitable for their present and intended purposes and are operating at a level consistent with the requirements
of the industry in which we operate. We also believe that our leases are at competitive or market rates and do not anticipate any difficulty
in leasing suitable additional space upon expiration of our current lease terms.

ITEM
3. LEGAL PROCEEDINGS

From
time to time and in the normal course of operations, we may become involved in legal proceedings or be subject to claims arising in the
ordinary course of our business. We are not presently a party to any legal proceedings that, if determined
adversely to us, would individually or taken together have a material adverse effect on our business, operating results, financial condition
or cash flows.

ZRCN
is engaged in procedures to protect its proprietary rights and has filed complaints with the Federal Trade Commission and the Customs
and Border Patrol.

19

ITEM
4. MINE SAFETY DISCLOSURES

Not
applicable.

ITEM
5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES

Market
Information

Our
common stock is on the OTCQX Market. There have been fewer than fifty trades since the shares were listed on February 24, 2025.

Holders
of Our Common Stock

As
of March 31, 2025, there were 103 stockholders of record of our common stock.

Dividend
Policy

We
have never declared or paid cash dividends on our capital stock. We intend to retain all available funds and future earnings, if any,
to fund the development and expansion of our business, and we do not anticipate declaring or paying any cash dividends in the foreseeable
future. Any future determination regarding the declaration and payment of dividends, if any, will be at the discretion of our board of
directors and will depend on then-existing conditions, including our financial condition, results of operations, contractual restrictions,
capital requirements, business prospects, and other factors our board of directors may deem relevant.

Recent
Sales