Subsequent Events	9 Months Ended
Sep. 30, 2021
Subsequent Events
Note 14. Subsequent events	(14) Subsequent events In accordance with ASC 855-10, Company management reviewed all material events through the date of this report. On October 15, 2021, the Company entered into a new lease for a 20,000 square foot facility on Long Island, New York, for a term of seven years and two months. The yearly base rent of $346,242 shall increase at a rate of 2.75% per year to begin on the first anniversary lease commencement date and each year thereafter. The first two months of basic rent shall be abated following the commencement lease date. In the event the landlord decides to sell the property, the Company shall have the right of first offer to purchase subject property. Upon lease execution, the Company paid two months of base rent as a security deposit and one month’s rent totaling $86,560. The Company expects to be fully operational at the new manufacturing and headquarters facility in the first quarter of 2022. On November 1, 2021, the Company opened its MMIC Design Center (AGMDC) in Texas and expects the facility to be fully operational by year-end 2021. The MMIC design center is expected to integrate the Company’s low noise figures into more compact packages that will allow for integration into a larger range of consumer applications. On November 10, 2021, Maxim was issued 50,000 restricted shares of Common Stock as per the placement agency agreement dated April 15, 2021.

Subsequent Events

9 Months Ended

Sep. 30, 2021

(14) Subsequent events

In accordance with ASC 855-10, Company management reviewed all material events through the date of this report.

On October 15, 2021, the Company entered into a new lease for a 20,000 square foot facility on Long Island, New York, for a term of seven years and two months. The yearly base rent of $346,242 shall increase at a rate of 2.75% per year to begin on the first anniversary lease commencement date and each year thereafter. The first two months of basic rent shall be abated following the commencement lease date. In the event the landlord decides to sell the property, the Company shall have the right of first offer to purchase subject property. Upon lease execution, the Company paid two months of base rent as a security deposit and one month’s rent totaling $86,560. The Company expects to be fully operational at the new manufacturing and headquarters facility in the first quarter of 2022.

On November 1, 2021, the Company opened its MMIC Design Center (AGMDC) in Texas and expects the facility to be fully operational by year-end 2021. The MMIC design center is expected to integrate the Company’s low noise figures into more compact packages that will allow for integration into a larger range of consumer applications.

On November 10, 2021, Maxim was issued 50,000 restricted shares of Common Stock as per the placement agency agreement dated April 15, 2021.