activities are currently conducted in approximately 21,000 square feet of office and production space in the Hamilton Mill Business Park
−Removed: located in Buford, Georgia under a lease that expires, unless otherwise extended, on September 30, 2025.
−Removed: The annual total of rent payments
−Removed: in 2021 was approximately $118,000.
−Removed: For 2022, the annual rent payments will be approximately $121,000.
−Removed: OmniMetrix is currently utilizing
−Removed: only a portion of these leased facilities and expects to grow into a portion of the currently unused space.
+Added: located in Buford, Georgia, under a lease that expires on September 30, 2025.
+Added: The annual total rent payment was $124,000 in 2022 and
+Added: $118,000 in 2021.
+Added: For 2023, the annual total rent payment will be $125,000.
+Added: OmniMetrix is currently utilizing only a portion of these
+Added: leased facilities and expects to grow into a portion of the currently unused space.
July 6, 2021, the Company entered into an agreement with King Industrial Realty, Inc.
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remitted to the Company’s landlord less the allocation of any shared expenses and leasehold improvements specific to the sublease.
−Removed: The Company invested approximately $7,000 on leasehold improvements related to the sublease.
−Removed: Due to the offset of the capital expenditures,
−Removed: the Company does not expect to have any net rent due to its landlord for the first twelve months of the sublease.
−Removed: The estimated amount
−Removed: the Company expects to remit to the landlord each year of the sublease subsequent to the first twelve months is approximately $6,700
−Removed: The sublease commenced on October 1, 2021 and will run through September 30, 2025 which is the end of the Company’s lease
−Removed: term with its landlord.
−Removed: Below are the future payments expected under the sublease net of the estimated annual service cost of $2,220
−Removed: (gross of the estimated amount we expect to remit to our landlord):
+Added: As of December 31, 2022, after the offset of the investment in leasehold improvements and other expenses related to the sublease, the
+Added: Company owes its landlord $6,000 for its share of the sublease profit since the lease commencement.
+Added: The estimated amount the Company
+Added: expects to remit to the landlord each year of the sublease subsequent to December 31, 2022 is $6,100 per year.
+Added: The sublease commenced
+Added: on October 1, 2021 and will run through September 30, 2025 which is the end of the Company’s lease term with its landlord.
+Added: are the future payments expected under the sublease net of the estimated annual service cost of $2,220 (gross of the estimated amount
+Added: we expect to remit to our landlord):
undiscounted cash flows
2 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.