8 unchanged sentences
to sublease from the Company 1,900 square feet
−Removed: of the unused office space for a monthly sublease payment of $2,375 which includes the base rent plus a pro-rata share of utilities,
−Removed: property taxes and insurance.
−Removed: Fifty percent of any excess rent received above the per square foot amount that the Company pays will be
−Removed: remitted to the Company’s landlord less the allocation of any shared expenses and leasehold improvements specific to the sublease.
−Removed: As of December 31, 2022, after the offset of the investment in leasehold improvements and other expenses related to the sublease, the
−Removed: Company owes its landlord $6,000 for its share of the sublease profit since the lease commencement.
−Removed: The estimated amount the Company
−Removed: expects to remit to the landlord each year of the sublease subsequent to December 31, 2022 is $6,100 per year.
−Removed: The sublease commenced
−Removed: on October 1, 2021 and will run through September 30, 2025 which is the end of the Company’s lease term with its landlord.
−Removed: are the future payments expected under the sublease net of the estimated annual service cost of $2,220 (gross of the estimated amount
−Removed: we expect to remit to our landlord):
−Removed: undiscounted cash flows
+Added: of the unused office space for a monthly sublease payment of $2,375 plus annual escalators (the average monthly sublease payment in
+Added: 2023 was $2,465), which includes the base rent plus a pro-rata share of utilities, property taxes and insurance.
+Added: Fifty percent of any
+Added: excess rent received above the per square foot amount that the Company pays will be remitted to the Company’s landlord less
+Added: the allocation of any shared expenses and leasehold improvements specific to the sublease.
+Added: As of December 31, 2023, after the offset
+Added: of the investment in leasehold improvements and other expenses related to the sublease, the Company owes its landlord $6,500 for its
+Added: share of the sublease profit since the lease commencement.
+Added: The estimated amount the Company expects to remit to the landlord each
+Added: year of the sublease subsequent to December 31, 2023 is $6,500 per year.
+Added: The sublease commenced on October 1, 2021 and will run
+Added: through September 30, 2025 which is the end of the Company’s lease term with its landlord.
+Added: Below are the future payments
+Added: expected under the sublease net of the estimated annual service cost of $2,750 (gross of the estimated amount we expect to remit to
+Added: our landlord):
+Added: Total undiscounted cash flows
LEGAL PROCEEDINGS
1 unchanged sentence
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.