AMERICAN REBEL HOLDINGS INC
For the period ended Dec 31, 2023. Filed Apr 12, 2024.
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FY2023 · Filed Apr 12, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 2. Properties
American Rebel Facilities
American Rebel entities lease the following properties:
| Location | Square Feet | Use | Lessee | Lease Expiration |
|---|---|---|---|---|
| 909 18th Avenue South, Suite A Nashville, TN 37212## | 1,750 | Corporate Executive Offices | American Rebel Holdings, Inc. | March 31, 2024** |
| 3800 S Ross Lane Chanute, Kansas 66720## | 50,000 | Warehouse and Shipping | American Rebel Holdings, Inc. | Month to month |
| 8500 Marshall Drive Lenexa, Kansas 66214# | 13,000 | Retail Sales/Offices | American Rebel, Inc. | July 31, 2028 |
** Subsequent to year end the above leased property (our corporate offices) we received an extension from the lessor providing for month-to-month to vacate the premises. We currently believe that we will vacate these offices in their entirety on or before May 31, 2024.
The above leased properties should be or shall be vacated by the date this Report is filed or shortly thereafter.
The Company and its wholly owned subsidiary moved from the 8460 Nieman Road facility to the 8500 Marshall Drive facility which adjoins the old 8460 Nieman Road property, increasing the retail sales space from approximately 6,000 square feet to 13,000 square feet.
Champion Safe Facilities
Headquarters for the Champion Entities (Champion, Superior and Safe Guard) are located in Provo, Utah. These entities lease the following locations:
| Location · Square Feet · Use · Lessee · Lease Expiration | |||||
|---|---|---|---|---|---|
| 2055 S. Tracy Hall Parkway Provo, Utah 84606** | 8,000 | Manufacturing | Champion Safe Company, Inc. | January 1, 2025 | |
| 2813 S Sierra Vista Way, Provo, Utah 84606* | 8,000 | Executive Offices and Factory Sales Outlet | December 31, 2024 | ||
| 2813 S Sierra Vista Way, Suite 2 Provo, Utah 84606 | 24,000 | Warehouse | December 31, 2024 | ||
| 200 Rock Industrial Park Bridgeton, Missouri 63044**## | 5,000 | Warehouse and Shipping | January 15, 2024 | ||
| 500 Industrial Drive Lewisberry, Pennsylvania 17339** | 2,100 | Warehouse and Retail Sales | August 1, 2024*** | ||
| 5411 Trebor Lane Knoxville, Tennessee 37914**## | 2,500 | Warehouse and Retail Sales | January 31, 2024 | ||
| 792 N. Gilbert Road, Suite 102 Gilbert, Arizona 85233 | 2,600 | Retail Sales | June 30, 2026 | ||
| 4027 North Oracle Road Tucson, Arizona 85705 | 1,400 | Retail Sales | March 7, 2027 | ||
| 17455 N. Black Canyon Highway Phoenix, Arizona 85023 | 2,400 | Retail Sales | February 28, 2025 | ||
| 9802 N. 91st Avenue, Suite 108 Peoria, Arizona 85345 | 3,907 | Warehouse and Retail Sales | April 30, 2025 | ||
| Av. Alvaro Obregon 6745, California, 84065 Nogales, Sonora, Mexico | 73,659 | Manufacturing | Champion Safe De Mexico, S.A. DE C.V. | September 1, 2024 | |
*** Subleased effective December 15, 2023. Original lease expiration date was August 1, 2024.
** Leased from Utah–Tennessee Holding Company, LLC, a company owned by former Champion founder, owner and Chief Executive Officer, Mr. Crosby.
- Leased from Champion Holdings, LLC, a company owned by former Champion founder, owner and Chief Executive Officer, Mr. Crosby.
The above leased properties should be or shall be vacated by Champion Safe Company, Inc. by the date this Report is filed or shortly thereafter.
As part of the acquisition of the Champion Entities, several long-term leases were held with the Seller, Mr. Crosby through his ownership in two limited liability companies. These long-term leases were considered fair value as Mr. Crosby provided rental space at what was deemed market value or what could have been negotiated in an arm’s length transaction. Please review the footnotes to our Consolidated Financial Statements for further disclosure on the leases the Company is obligated to the Seller of the Champion Entities.
Recently the Company and Mr. Crosby, through his limited liability companies, entered into several short-term extensions on the leased properties. With the extensions of the leases the Company and the limited liability companies generally increased the base rent to be paid by an average of 10% due to inflation. The Company negotiated these extensions and other terms in an arm’s length manner.
The Company believes these facilities are currently adequate for its needs, including providing the space and infrastructure to accommodate its development work based on its operating plans. For the foreseeable future, the Company may lease or license additional facilities for manufacturing, corporate offices and other functions. The Company believes that suitable facilities will be available on commercially reasonable terms to accommodate the foreseeable expansion of our operations and warehousing requirements.
The Company intends to for the immediate future, twelve (12) to eighteen (18) months, not to extend the leases on the Lewisberry, Phoenix and Peoria facilities and consolidate its warehousing wholly within its Utah facilities.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.