Company: BKTI
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001437749-25-033457
Chunk: 32

Company: BK Technologies Corp
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 32
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 1, 2027 and terminating at midnight  June 30, 2032.  Annual rental, maintenance, and tax expenses for the facility are approximately $610.
    
   In  February 2020, the Company entered into a lease for 6,857 square feet (not in thousands) of office space at Sawgrass Technology Park, 1619 NW 136th Avenue in Sunrise, Florida, for a period of 64 months commencing  July 1, 2020 (the “Sawgrass Lease”). In  September 2025, the Company entered into an amendment to the Sawgrass Lease to lease an additional 1,514 square feet (not in thousands) of office space and to extend the lease term an additional 62 months, commencing on the date construction on the additional leased area is completed (the “Sawgrass Amendment”). Pursuant to the Sawgrass Amendment, the annual rental, maintenance, and tax expenses for the facility will be approximately $180 for the first year of the extended term and will increase approximately 3.0% for each subsequent 12-month period.
    
   Lease costs consisted of the following:

       Three Months Ended    Nine Months Ended  
   September 30, 2025    September 30, 2024    September 30, 2025    September 30, 2024  
 Operating lease cost  $134  $136  $406  $406 
 Variable lease cost   34   33   100   100 
 Total lease cost  $168  $169  $506  $506 

       15

   Note 11. Leases (continued)
    
   Supplemental cash flow information related to leases was as follows:

       Three Months Ended    Nine Months Ended  
   September 30, 2025    September 30, 2024    September 30, 2025    September 30, 2024  
 Cash paid for amounts included in the measurement of lease liabilities:                 
 Operating cash flows (fixed payments)  $157  $155  $467  $455 
 Operating cash flows (liability reduction)  $144  $135  $424  $390 
                 
 ROU assets obtained in exchange for lease obligations:                 
 Operating leases