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Precision Optics signs one-year Gardner lease

Precision Optics is responsible for personal property taxes; Equity Assets is responsible for real estate taxes and assessments on the premises.

(Moderate)

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Form Type
8-K

Rhea-AI Filing Summary

Precision Optics Corporation, Inc. (POCI) entered a new lease with Equity Assets, Inc. on October 28, 2026, for its existing location in Gardner, Massachusetts. The lease covers approximately 12,292 rentable square feet for a one-year term commencing July 1, 2026.

Monthly rent is $13,316.33 from July 1 through December 31, 2026, and $13,715.82 for calendar year 2027, with subsequent 3.0% per annum increases. The lease provides two options to extend the term for additional one-year periods, exercisable with at least six months’ prior written notice. The premises may be used to design and manufacture optical components and products for advance medical, industrial, aerospace and military applications.

Filing Explained

Beyond base rent, Precision Optics is responsible for personal-property taxes on the premises, while the landlord is responsible for real-estate taxes and assessments.

Item 1.01 Entry into a Material Definitive Agreement Business
The company signed a significant contract such as a merger agreement, credit facility, or major partnership.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Rentable space 12,292 rentable square feet At the existing location in Gardner, Massachusetts
Initial lease term One year Commencing July 1, 2026
Monthly rent $13,316.33 July 1 through December 31, 2026
Monthly rent $13,715.82 Calendar year 2027
Subsequent rent increases 3.0% per annum Applies to monthly rent thereafter
Lease extension options Two options Each for an additional one-year period
rentable square feet technical
"approximately 12,292 rentable square feet"
Rentable square feet is the total floor area a landlord charges tenants for, including the tenant’s usable space plus a proportional share of common areas like lobbies, hallways and restrooms. Investors use it to calculate income and compare properties because rent and lease rates are typically quoted per rentable square foot; think of it as the full ticket price that includes your seat plus a share of the theater’s aisles and lobby.
term commencement date financial
"with a term commencement date of July 1, 2026"
base rent financial
"In addition to base rent"
The fixed minimum rent a tenant pays under a lease before any extra charges or variable fees; think of it as the subscription price for a space, separate from add‑ons like utilities, maintenance, or a share of property taxes. Investors watch base rent because it sets the predictable, recurring income stream that determines a property's immediate cash flow and helps value the asset, while extras and escalations affect total returns and risk.
per annum financial
"subsequent 3.0% per annum increases"
A Latin phrase meaning "per year," used to express amounts, rates or changes on an annual basis—for example interest rates, growth rates, fees, or yields. It tells you how much something accumulates or is charged over one year, which lets investors compare different time-based figures on the same yearly scale. Think of it like saying "miles per year" for a car: it converts various short-term measures into a single annual number.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is the monthly rent under POCI’s new lease?

POCI’s monthly rent is $13,316.33 from July 1, 2026 through December 31, 2026, and $13,715.82 for calendar year 2027. Subsequent monthly rent increases are 3.0% per annum.

Can POCI extend its lease, and what notice is required?

The lease provides two options to extend the one-year term for additional one-year periods. Each option is exercisable with at least six months’ prior written notice.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported) October 28, 2026

 

PRECISION OPTICS CORPORATION, INC.

(Exact name of registrant as specified in its charter)

 

Massachusetts   001-10647   04-2795294
(State or other jurisdiction   (Commission   (IRS Employer
of incorporation)   File Number)   Identification No.)
         

 

550 King Street, Bldg. A, Ste. 100
Littleton
, Massachusetts
  01460-6245
(Address of principal executive offices)   (Zip Code)

 

(Registrant’s telephone number, including area code) (978) 630-1800

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

☐            Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

☐            Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

☐            Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

☐            Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class   Trading symbol(s)   Name of each exchange on which registered
Common stock, par value $0.01 per share   POCI   The Nasdaq Stock Market

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company ☐

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

     

 

   
 

 

Item 1.01 Entry into a Material Definitive Agreement.

 

On October 28, 2026, Precision Optics Corporation, Inc. (the “Company”) entered into a new Lease Agreement (the “Lease”) with Equity Assets, Inc. (the “Landlord”), for its existing location at 22-28 East Broadway, Gardner, Massachusetts for a one year term, with a term commencement date of July 1, 2026. The Lease is for approximately 12,292 rentable square feet of commercial space (the “Premises”).

 

The Lease includes two options to extend the one year term for additional one-year periods, exercisable with at least six months’ prior written notice. The monthly rent from July 1, 2026 through December 31, 2026 is $13,316.33. On January 1, 2027 the monthly rent increases to $13,715.82 per month for the calendar year 2027, with subsequent 3.0% per annum increases in the monthly rent thereafter as set forth in the Lease.

 

In addition to base rent, the Company is responsible for all personal property taxes for the Premises and the Landlord is responsible for any and all real estate taxes and assessments against the Premises. The Lease provides for the permitted use of the Premises for design, and manufacturing of optical components and products for advance medical, industrial, aerospace and military applications.

 

The foregoing description of the Lease does not purport to be a complete statement of the parties’ rights and obligations and is qualified in its entirety by reference to the full text of the Lease, including all exhibits and schedules thereto, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated by reference herein.

 

 

Item 9.01 Financial Statements and Exhibits.

 

(d) Exhibits

 

Exhibit No.   Description
10.1   Lease, dated October 28, 2026, by and between Equity Assets, Inc. and Precision Optics Corporation, Inc.
104   Cover Page Interactive Data File (embedded with the Inline XBRL document)

 

 

 

 

 

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SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

  PRECISION OPTICS CORPORATION, INC.
   
   
Dated: October 30, 2026 By:  /s/ Joseph N. Forkey
 

Name: Joseph N. Forkey

Title: President

 

 

 

 

 

 

 

 

 

 

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Filing Exhibits & Attachments

4 documents

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