KNSY » Topics » ITEM 2. PROPERTIES

This excerpt taken from the KNSY 10-K filed Sep 13, 2006.

ITEM 2. PROPERTIES

In August 2004, we started construction of a new facility in Exton, Pennsylvania, two miles from our previous location and we completed construction of the facility in August 2006. The new facility is a 202,500 square foot shell and has 175,500 square feet of interior fit-out. Over the past eight months all employees have transitioned to the new facility. We also lease a small office space in Eschborn, Germany for our Germany subsidiary. See the discussion of our new facility and charges taken related to the transition to such facility in Item 7, Management’s Discussion and Analysis of Financial Conditions and Results of Operations, “Liquidity and Capital Resources”.

This excerpt taken from the KNSY 10-K filed Sep 13, 2005.

ITEM 2. PROPERTIES

 

We lease approximately 68,000 square feet of executive offices, manufacturing and research and development facilities in Exton, Pennsylvania, a suburb of Philadelphia. This lease expires in fiscal 2006, subject to additional renewal options. We also lease approximately 17,000 square feet of additional office space in Exton, Pennsylvania for which our lease expires at the earlier of three years (September 2007) or the completion of our new facility described below. In addition, we lease a 10,000 square foot warehouse in Exton, Pennsylvania, where we have a monthly lease and a small office space in Eschborn, Germany.

 

We did not believe our existing facility would support full-scale manufacturing of the TriActiv device for both Europe and the U.S. or future growth of our biomaterials product sales. For these reasons, we are constructing a 198,000 square foot new facility which will also be in Exton, Pennsylvania. The first phase of our construction plan, a 162,000 square foot shell with 105,000 square foot of fit-out, began in August 2004 and is expected to be complete by December 31, 2005. Phases two and three, an additional 36,000 square feet of shell space and 70,000 square feet of fit-out are expected to be complete by June 30, 2006.

 

We anticipate the staged termination of all facility leases throughout fiscal 2006, as we transition in phases to the new facility by June 2006, with termination of the final lease by September 2006. See the discussion of our new facility and charges taken related to the transition to such facility in Item 7 Management’s Discussion and Analysis of Financial Conditions and Results of Operations, “Liquidity and Capital Resources”. Prior to the completion of our new facility, we do not anticipate any significant difficulty in obtaining additional or alternate space or renewing our leases for additional short terms, at reasonable rates, in the event we need additional space or upon the expiration, cancellation or termination of any of our existing leases.

 

EXCERPTS ON THIS PAGE:

10-K
Sep 13, 2006
10-K
Sep 13, 2005
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