−Removed: Company neither rents nor owns any properties.
−Removed: The Company utilizes the office space and equipment of its management at no cost.
−Removed: Given the limited need of the Company, management believes that the office space is more than suitable and adequate.
−Removed: currently has no policy with respect to investments or interests in real estate, real estate mortgages or securities of, or interests
−Removed: in, persons primarily engaged in real estate activities.
+Added: principal executive office is located at 27 Castilian Dr., Goleta, CA.
+Added: We pay an annual rent of $161,070.
+Added: February 22, 2021, we entered into a triple-net lease agreement with SBR Associates LP for the commercial building at 27 Castilian Dr.
+Added: Goleta, CA for a term of five years, that began on April 1, 2021.
+Added: The base rent for this property is $13,013.75 per month, with a CPI
+Added: escalation over the initial base rent over the term of the lease.
+Added: The lease expires on March 31, 2026 with the option to renew the lease
+Added: with reasonable notice.
+Added: March 15, 2021, we entered into a month-to-month agreement to sublease a portion of this property to the previous tenant at a base rental
+Added: rate of $13,013.75 per month.
+Added: The sublease was amended on May 17, 2021 to sublease a smaller portion of the property at a base rental
+Added: rate of $8,400 per month effective June 1, 2021.
+Added: The sublease was amended again on February 7, 2022 to sublease a smaller portion of
+Added: the property at a base rental rate of $6,930 per month effective March 1, 2022.
+Added: The sublease was amended again on May 17, 2022 to sublease
+Added: a smaller portion of the property at a base rental rate of $5,200 per month effective June 1, 2022.
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.