{"url_path":"/sec/gwav/10-k/2026/item-2","section_key":"item-2","section_title":"Item 2 PROPERTIES**","topic":"sec","document":{"doc_type":"10-K","doc_date":"2026-06-15","source_url":"https://www.sec.gov/Archives/edgar/data/1589149/0001493152-26-028562-index.html","accession_number":"0001493152-26-028562","cik":"0001589149","ticker":"GWAV","issuer_name":"Greenwave Technology Solutions, Inc.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1589149/0001493152-26-028562-index.html","primary_entity_key":"0001589149","primary_entity_name":"Greenwave Technology Solutions, Inc."},"word_count":636,"has_tables":true,"body_markdown":"**ITEM\n2. PROPERTIES**\n\n \n\nWe\nown the property underlying our scrap yards located at:\n\n \n\n●4091\nPortsmouth Blvd., Portsmouth, VA 23701\n\n●22097\nBrewers Neck Blvd., Carrollton, VA 23314\n\n●1576\nMillpond Rd., Elizabeth City, NC 27909\n\n●8952\nRichmond Rd., Toano, VA 23168\n\n●9922\nHwy 17 S., Vanceboro, NC 28586\n\n●1040\nOceana Blvd, Virginia Beach, VA 23454\n\n●406\nSandy Street, Fairmont, NC 28340\n\n \n\nFurther,\nwe own properties located at 278 and 276 Suburban Drive, Suffolk, VA 23434 and 4087, 4089, 4091, 4103, 4105 and 4117 Portsmouth Blvd,\nPortsmouth, VA 23701.\n\n \n\nThe\nCompany leases its facilities and certain automobiles under operating leases which expire on various dates through 2028. The Company\ndetermines if an arrangement is a lease at inception and whether it is a finance or operating leases. Right of Use (“ROU”)\nassets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the obligation\nto make lease payments from the lease. Operating lease ROU assets and liabilities are recognized at the commencement date of the lease\nbased on the present value of lease payments over the lease term. When readily determinable, the Company uses the implicit rate in determining\nthe present value of lease payments. The ROU asset also includes any fixed lease payments, including in-substance fixed lease payments\nand excludes lease incentives. Lease expense for lease payments is recognized on a straight-line basis over the lease term. Lease term\nis determined at lease commencement and includes any non-cancellable period for which the Company has the right to use the underlying\nasset, together with any options to extend that the Company is reasonably certain to exercise.\n\n \n\nOn\nJanuary 24, 2022, the Company entered into leasing agreements for 3,521 square feet of office space commencing upon the completion of\ntenant improvements by May 1, 2022 (“Commencement Date”).\nUnder the terms of the leases, the Company is required to pay $3,668 for the first twelve months of the lease and increasing by approximately\n3% every 12 months thereafter until the expiration of the lease. The lease is for a period of five years from the Commencement Date and\nthe Company was required to make a security deposit of $3,668. The Company does not have an option to extend the lease. The Company cannot\nsublease any of the office space under the lease agreement.\n\n \n\nOn\nMarch 15, 2024, the Company entered into leasing agreements for a scrap yard located in Cleveland, Ohio. Under\nthe terms of the lease, the Company is required to pay $17,000 from March 1, 2024 to February 28, 2025; $23,000 from March 1, 2025 to\nFebruary 28, 2026; $23,000 from March 1, 2026 to February 28, 2027; $23,000 from March 1, 2027 to February 28, 2028; and increasing by\nthe greater of 3% and the CPI every 12 months thereafter until the expiration of the lease. The lease is for a period of five years,\nincludes two options to extend for five years each, and the Company was required to make a security deposit of $17,000.\n\n \n\nIn\nMay 2025, the Company entered into an amendment to the lease agreement that modified the rent payment schedule and added site clean-up\nand waste management obligations. Under the amended terms, rent was $23,000 for May 2025, $17,000 per month from June 1, 2025\nthrough December 31, 2025, $18,500 per month from January 1, 2026 through December 31, 2026, and $20,000 per month from January 1, 2027\nthrough February 28, 2028. The Company remains responsible for payment of property taxes related to the premises.\nAll other material terms of the lease remain unchanged.\n\n \n\nWe\nbelieve that our facilities are adequate for our current needs and that, if required, we will be able to expand our current space or\nlocate suitable new office space and obtain a suitable replacement for our executive and administrative headquarters.\n\n \n\n19"}