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 on September 30, 2025.
−Removed: We are currently considering new office space while also
−Removed: discussing potential renewal terms with our landlord.
−Removed: The annual total rent payment was $129,000 in 2024 and $128,000 in 2023.
−Removed: the annual total rent payment will be $98,000 for the period through September 30, 2025.
−Removed: OmniMetrix is currently utilizing only a portion
−Removed: of these leased facilities.
−Removed: If we renew this lease, we expect to grow into a portion of the currently unused space.
−Removed: July 6, 2021, the Company entered into an agreement with King Industrial Realty, Inc.
+Added: located in Buford, Georgia, under a lease that was amended on June 20, 2025 to extend the lease term through November 30, 2030.
+Added: operating lease expense was $184,000 in 2025 and $129,000 in 2024.
+Added: For 2026, the annual operating lease expense will be $216,000 for
+Added: the year ending through December 31, 2026.
+Added: OmniMetrix is currently utilizing only a portion of these leased facilities.
+Added: On July 6, 2021, the Company entered into an agreement with King Industrial Realty, Inc.
to sublease from the Company 1,900 square feet
−Removed: of the unused office space for a monthly sublease payment of $2,375 plus annual escalators (the average monthly sublease payment in 2024
−Removed: was $2,465), which includes the base rent plus a pro-rata share of utilities, property taxes and insurance.
−Removed: Fifty percent of any excess
−Removed: rent received above the per square foot amount that the Company pays will be remitted to the Company’s landlord less the allocation
−Removed: of any shared expenses and leasehold improvements specific to the sublease.
−Removed: As of December 31, 2024, after the offset of the investment
−Removed: in leasehold improvements and other expenses related to the sublease, the Company has paid its landlord $16,000 for its share of the
−Removed: sublease profit since the lease commencement.
−Removed: The estimated amount the Company expects to remit to the landlord each year of the sublease
−Removed: subsequent to December 31, 2024 is $7,000 per year.
−Removed: The sublease commenced on October 1, 2021 and will run through September 30, 2025
−Removed: which is the end of the Company’s lease term with its landlord.
−Removed: Below are the future payments expected under the sublease net of
−Removed: the estimated annual service cost of $2,750 (gross of the estimated amount we expect to remit to our landlord):
+Added: of the Company’s 21,000 square feet office and production space in the Hamilton Mill Business Park located in Buford, Georgia.
+Added: sublease was amended on August 15, 2025 to extend the term through September 30, 2028 and to provide a monthly sublease payment of $3,374
+Added: plus annual escalators (the average monthly sublease payment in 2025 was $2,790), which includes the base rent plus a pro-rata share of
+Added: utilities, property taxes and insurance.
+Added: Fifty percent of any excess rent received above the per square foot amount that the Company pays
+Added: will be remitted to the Company’s landlord less the allocation of any shared expenses and leasehold improvements specific to the
+Added: After the offset of the investment in leasehold improvements and other expenses related to the sublease, the total amount payable
+Added: to our landlord under the sublease was $8,295 for the year ended December 31, 2025, and $6,680 for the year ended December 31, 2024.
+Added: are the future payments (in thousands) expected to be received from King Industrial Realty, Inc.
+Added: under the sublease.
+Added: The Company expects
+Added: to remit fifty percent of these amounts net of the annual service cost of approximately $2,600 to our landlord.
Year ended December 31,
3 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.