GREEN PLANET COMPANY

DURING 2019 WE WERE ABLE COMPLETE THE PURCHASE OF THE 15 ACRE PROPERTY AT 376 STATE STREET, GUILFORD CT.DURING 2020, WE SUB-DIVIDED THE 15 ACRE PROPERTY AT 376 STATE STREET INTO 4 LOTS. THE EXISTING HOUSE PLUS 3 ACRES OF LAND WERE ON ONE LOT AND WAS SOLD DURING 2020 RESULTING IN A PARTIAL RE-PAYMENT OF THE ACQUISITION LOAN. WORK ON TWO LOTS (ONE 1 ACRE AND ONE 1.5 ACRES) WAS STARTED IN NOVEMBER, 2020 AS STAND ALONE AFFORDABLE HOMEOWNERSHIP HOMES. A SPECIAL PERMIT FROM THE TOWN OF GUILFORD PLANNING AND ZONING COMMISSION WAS GRANTED IN APRIL, 2020 FOR AN 7 UNIT COTTAGE COMMUNITY ON THE REMAINING 9.5 ACRE LOT. DURING 2021, WORK ON THE FIRST 2 HOMES (PHASE 1) OF A 9 HOME AFFORDABLE HOMEOWNERSHIP PROJECT WAS COMPLETED AND THE HOMES WERE SOLD IN 2022. WORK ON THE REMAINING 7 HOMES (PHASE 2) COMMENCED IN JUNE 2022. BY YEARS END, THE 7 HOME CONDOMINIUM PROJECT WAS 40% COMPLETE. AS OF THE END OF 2023 WORK ON THE 7 UNIT CONDOMINIUM WAS SUBSTANTIALLY COMPLETE, WITH THE EXCEPTION OF LANDSCAPING, AND ALL THE HOMES WERE UNDER CONTRACT. ALL HOMES EXCEPT ONE WERE SOLD AND OCCUPIED BY END OF YEAR 2024.FOR THE PERIOD FROM BEGINNING OF DEVELOPMENT THROUGH DECEMBER 31, 2024, WE HAVE SPENT A TOTAL OF APPROXIMATLEY $5,700,000 ON CONSTRUCTION AND DEVELOPMENT WORK. THESE COSTS INCLUDED THE DEVELOPMENT OF THE PROPERTY AT 376 STATE STREET, GUILFORD CT AND VARIOUS COSTS RELATED TO SURVEYS, ARCHITECTURAL, ENGINEERING, ENVIRONMENTAL, AND CONSTRUCTION.