What changed in this filing

/stocks — the workspaceLOADING

Item 2. Properties

2023-01-18 compared with 2022-01-14 · 164 added, 190 removed, 266 unchanged (57% of the section changed)

11 unchanged sentences

was destroyed by fire on October 2, 2018 and the vacant parcel of real property adjacent thereto which we purchased in February 2015.

Subsequent to the fire, (i) we have constructed a 3,000 square foot stand-alone building on the vacant parcel of real property for the

operation of our Company-owned package liquor store (Store #19P), which opened for business subsequent to the end of our fiscal year 2022;

and (ii) are constructing a 4,500 square foot stand-alone building here for the operation of the Company-owned restaurant, (Store #19R),

which we anticipate will open for business subsequent to our fiscal year end 2023.

a 4,600 square foot stand-alone building located in Fort Lauderdale, Florida that we purchased in August 2010

11 unchanged sentences

and (B) the second stand-alone building, approximately 4,850 square

feet, has housed our Kendall, Florida based restaurant since April 4, 2000, which is owned by our affiliated limited partnership (Store

feet, has housed our limited partnership owned Kendall, Florida based restaurant since April 4, 2000, (Store #70);

a 6,400 square foot building in Fort Lauderdale, Florida that we purchased in February 2014, 4,000 square

5 unchanged sentences

adjacent that we purchased in October 2015, which we use as office and warehouse space, covered parking for our food truck and as a storage

a 6,900 square foot stand-alone building in Sunrise, Florida, which will house our Sunrise, Florida based

restaurant currently being developed, which will be owned by an affiliated limited partnership (Store #85).

a 6,900 square foot stand-alone building in Sunrise, Florida, which we purchased in March, 2021 and houses

our limited partnership owned Sunrise, Florida based restaurant, (Store #85), which opened for business in March, 2022.

All of our units require periodic

refurbishing in order to remain competitive.

We have budgeted $1,000,000 for our refurbishing program for fiscal year 2022.

"Liquidity and Capital Resources" for discussion of the amounts spent in fiscal year 2021.

We have budgeted $650,000 for our refurbishing program for fiscal year 2023, although capital

expenditures of our refurbishing program for our fiscal year 2023 may be significantly higher.

See Item 7, "Liquidity and Capital Resources"

for discussion of the amounts spent in fiscal year 2022.

The following table summarizes information related

to the properties upon which our operations are conducted.

For all locations that include lease options, the lessor must extend the term

of the lease for a location if we exercise the lease option.

If there is no lease option or if we do not exercise the same, the lessor

is not required to extend the term of the lease upon expiration.

Name and Location

37 unchanged sentences

Lauderdale, Florida

1/1/09 to 8/31/26 Options to 8/31/36

1/1/09 to 8/31/26

Options to 8/31/36

Name and Location

38 unchanged sentences

Name and Location

Brendan’s Sports Pub

6/16/22 to 6/30/72

Flanigan’s Enterprises, Inc.

Federal Highway

Pompano Beach, Florida

Flanigan's Seafood Bar and Grill #31

12 unchanged sentences

Surfside, Florida

5/29/97 to 5/28/22 Options to 5/28/37

5/29/97 to 5/28/27

Options to 5/28/37

Flanigan's Seafood Bar and Grill #40

16 unchanged sentences

Miami, Florida

12/21/68 to 1/1/30 Options to 1/1/50

12/21/68 to 1/1/30

Options to 1/1/50

Flanigan’s Seafood Bar and Grill #13

4 unchanged sentences

Option to 1/31/36

Name and Location

Flanigan’s #25

4 unchanged sentences

Options to 3/5/47

Name and Location

Flanigan’s Seafood Bar and Grill #50

21 unchanged sentences

Miami, Florida

Company-Owned

4/1/00 to 3/31/25 Option to 3/31/30

Flanigan’s Seafood Bar and Grill #75

2 unchanged sentences

Stuart, Florida

5/1/10 to 4/30/26

Option to 4/30/31

5/1/10 to 4/30/26 Option to 4/30/31

Flanigan's Seafood Bar and Grill #80

7 unchanged sentences

Sunrise, Florida

3/1/19 to 2/28/29

Options to 2/28/44

Company-Owned

Name and Location

Flanigan's Seafood Bar and Grill #90

1 unchanged sentence

Miami, Florida

Limited Partnership

4/1/11 to 3/31/31

Option to 3/31/36

Name and Location

Flanigan's Seafood Bar and Grill #95

2 unchanged sentences

Weston, Florida

10/1/17 to 9/30/22 Options to 9/30/32

10/1/17 to 9/30/27 Option to 9/30/32

Flanigan’s Calusa Center, LLC (6)

6 unchanged sentences

Lease assigned to franchisee.

We are no longer contingently liable on the lease.

In 1974, we sold and assigned the underlying ground lease to unaffiliated third parties and simultaneously

20 unchanged sentences

University Drive, Hollywood, Florida (Store #19), was damaged by a fire and was forced to close.

While it was initially contemplated

that Store #19 would be renovated, because of the damage caused by the fire, we determined that Store #19 should be demolished and rebuilt.

As a result, the package liquor store and restaurant has been closed since our first quarter year 2019.

Our loss was covered by insurance,

including but not limited to business interruption coverage.

We determined that Store #19

should be demolished and rebuilt as separate buildings.

As a result, the package liquor store has been closed since our first quarter

year 2019, but re-opened for business subsequent to the end of our fiscal year 2022 in a newly constructed stand-alone building.

During the first quarter of our fiscal year 2019, our combination package liquor store and restaurant located

University Drive, Hollywood, Florida (Store #19), was damaged by a fire and was forced to close.

We determined that Store #19

should be demolished and rebuilt as separate buildings.

As a result, the restaurant has been closed since our first quarter year 2019.

During the second quarter of our fiscal year 2019, we entered into a lease for this location, which lease

was subsequently assigned to a limited partnership.

We plan to raise funds to renovate this new location for operation as a “Flanigan’s

We raised funds to renovate this new location for operation as a “Flanigan’s

Seafood Bar and Grill” restaurant using our limited partnership ownership model.

2 unchanged sentences

of our fiscal year 2021.

This new restaurant opened for business during the second quarter of our fiscal year 2022.

During the fourth quarter of our fiscal year 2019, we entered into a lease for this location, which lease

was subsequently assigned to a limited partnership.

We plan to raise funds to renovate this new location for operation as a “Flanigan’s”

restaurant using our limited partnership ownership model.

We raised funds to renovate this new location for operation as a “Flanigan’s”

restaurant using our limited partnership ownership model, which location we believe will open for business in February, 2023.

During the fourth quarter of our fiscal year 2019, we entered into a lease for this location.

1 unchanged sentence

this new location for operation as a “Big Daddy’s Wine & Liquors” retail package liquor store.

Casualty Loss

During the first quarter of our

4 unchanged sentences

and rebuilt and as a result, the package liquor store and restaurant were closed for our fiscal years 2022, 2021, 2020 and 2019.

of Real Property

North Lauderdale, Florida (“Flanigan’s

Seafood Bar and Grill”/”Big Daddy’s Liquors”)

On October 7, 2014, we entered

into an Amendment to Lease Agreement (the “Lease Amendment”) with a non-affiliated third party from whom we rented approximately

4,600 square feet of commercial space located at 5450 N.

State Road 7, North Lauderdale, Florida where we operate a combination “Flanigan’s

Seafood Bar and Grill” restaurant and “Big Daddy’s Liquors” package liquor store (Store #40).

The Lease Amendment

extended the term of the Lease Agreement until December 31, 2020 and granted us the option to purchase, (the “Option to Purchase”),

the real property and improvements through December 31, 2020 for $1,200,000.

During the fourth quarter of our fiscal year 2020 we exercised

the Option to Purchase and closed on the acquisition of the property on December 31, 2020.

We paid all cash at closing.

Sunrise, Florida (“Flanigan’s Seafood

Bar and Grill”)

During the second quarter of our

fiscal year 2019, we entered into a Lease Agreement (the “Sunrise Lease Agreement”) with a non-affiliated third party to rent

approximately 6,900 square feet of commercial space located at 14301 W.

Sunrise Boulevard, Sunrise, Florida where, subject to certain

conditions, we anticipate opening a new restaurant location.

The Sunrise Lease Agreement granted us an option to purchase, (the “Option

to Purchase”) the real property and improvements by March 2, 2021 for $4,800,000.

During the third quarter of our fiscal year 2019,

we assigned the Sunrise Lease Agreement, excluding the Option to Purchase, to a newly formed limited partnership.

During the first quarter

of our fiscal year 2021, we exercised the Option to Purchase and during the second quarter of our fiscal year 2021 we closed on the acquisition

of the real property located at 14301 W.

Sunrise Boulevard, Sunrise, Florida.

We financed this acquisition with a loan from an unrelated

third party lender in the principal amount of $2.2 million and paid cash for the balance.

The mortgage loan accrues interest at the fixed

annual rate of 3.65%, is amortized over fifteen (15) years, and requires us to pay monthly payments of principal and interest in the amount

of $15,900 with the entire principal balance and all accrued but unpaid interest due in March, 2036.

of 4 COP Liquor License

During the third quarter of our

fiscal 2021, we purchased a 4 COP quota liquor license, which permits the sale of beer, wine and liquor for on and/or off premise consumption,

for Broward County, Florida from an unrelated third party for $192,200.

The liquor license is currently inactive, but we intend to use

it in connection with the operation of a package liquor store we are developing in Miramar, Florida.

Execution of Leases for New

Miramar, Florida (“Flanigan’s”)

During the fourth quarter of

our fiscal year 2019, we entered into a Lease Agreement with a non-affiliated third party, (the “Landlord”), to rent approximately

6,000 square feet of commercial space for a restaurant location in a shopping center at 11225 Miramar Parkway, #250, Miramar, Florida

33024 (Store #25), which shopping center was under construction and where we anticipate opening a new restaurant location.

this Lease Agreement to a newly formed limited partnership in which we currently are (i) the sole general partner;

and (ii) our wholly

owned subsidiary is the sole limited partner.

While there can be no assurances that we will be successful in doing so, we are currently

selling limited partnership interests to third parties, as well as affiliates of the Company, in order to raise net proceeds in an amount

of $4,000,000, which proceeds will be used to build out this potential restaurant location.

The new restaurant location’s ownership

and operating structure will be substantially similar to that of our other restaurants owned by limited partnerships.

Any amounts we advance

to the limited partnership will be applied as a credit to limited partnership equity in the limited partnership we may acquire (which

equity shall be purchased at the same price and upon the same terms as other equity investors).

Any excess amounts advanced by us will

be reimbursed to us by the limited partnership without interest.

Subsequent to the end of the third quarter of our fiscal year 2021, we

received notification from the Landlord that it had completed substantially all of the Landlord’s work under the Lease Agreement

and was delivering possession of the leased premises to us.

Miramar, Florida (“Big Daddy’s Wine

During the fourth quarter of our

fiscal year 2019, we entered into a Lease Agreement with a non-affiliated third party, (the “Landlord”), to rent approximately

2,000 square feet of commercial space for a restaurant location in a shopping center at 11225 Miramar Parkway, #245, Miramar, Florida

33024 (Store #24), which shopping center was under construction and where we anticipate opening a new retail package liquor store.

new package liquor store location will be Company-owned.

Subsequent to the end of the third quarter of our fiscal year 2021, we received

notification from the Landlord that it had completed substantially all of the Landlord’s work under the Lease Agreement and was

delivering possession of the leased premises to us.

of Leases for Existing Locations

Pinecrest, Florida

During the second quarter of our

fiscal year 2021, the lease with an unrelated third party for the space located at 11415 S.

Dixie Highway, Pinecrest, Florida (Store #13)

where a limited partnership owned restaurant operates, was extended through January 31, 2031 with one (1) five (5) year renewal option.

The fixed annual rental was reduced by 7½% and the fixed annual rental increases were reduced to 2% from 3% for the first seven (7)

Otherwise the extended lease is on substantially the same terms and conditions, including fixed annual rental increases and continued

percentage rent as existed before the extension.

Surfside, Florida

During the second quarter of our

fiscal year 2021, the lease with an unrelated third party for the space located at 9516 Harding Avenue, Surfside, Florida (Store #60)

where a limited partnership owned restaurant operates was extended through December 31, 2026.

The fixed annual rental increases were increased

from $0.75 per square foot annually to $1.00 per square foot effective January 1, 2022.

Otherwise, the extended lease is on substantially

the same terms and conditions as existed before the extension.

of Leased Premises;

Extension of Lease

Miami, Florida

liquor store re-opened for business subsequent to the end of our fiscal year 2022 in a newly constructed stand-alone building.

the restaurant will reopen for business in our fiscal year 2024 in a newly constructed stand-alone building where our combination package

liquor store and restaurant at 2505 N.

University Drive, Hollywood, Florida was previously located.

CIC Investors #85, Ltd.

(Flanigan’s, Sunrise, Florida)

February 15, 202 2 , a Florida limited partnership (CIC

Investors #85, Ltd.) in which the Company serves as general partner, completed a private placement of 1,000 Units of limited partnership

interests at $5,000 per Unit for proceeds of $5,000,000, 74 Units of which ($370,000) were purchased by the Company upon the same terms

and conditions as all other investors.

The proceeds of the private placement were used to satisfy (including

reimbursement to us for advances we have made), build-out and renovation expenses and the purchase of such furniture, fixtures and equipment

necessary for operation of our Sunrise, Florida restaurant under the service mark “Flanigan’s” , which commenced

operations on March 22, 2022 .

Capital raised from private investors is credited to sale of noncontrolling

interests in our Statements of Stockholders’ Equity.

Under ASC 810, Consolidation,

the Company, which is the entity issuing financial statements, is required to consolidate CIC Investors #85, Ltd.

as we have a controlling

interest in CIC Investors #85, Ltd.

as general partner, although the Company only has a 7.40% ownership.

CIC Investor #25, Ltd.

(Flanigan’s, Miramar, Florida)

On February 15, 2022, a Florida

limited partnership (CIC Investors #25, Ltd.) in which the Company serves as general partner, completed a private placement of 800 Units

of limited partnership interests at $5,000 per Unit for gross proceeds of $4,000,000.

No units of limited partnership interest were purchased

by the Company.

The proceeds of the private placement are being used to satisfy (including reimbursement to us for advances we have made),

build-out and renovation expenses and the purchase of such furniture, fixtures and equipment necessary for operation of our Miramar, Florida

restaurant under the service mark “Flanigan’s”, which we believe will commence operations in February, 2023.

raised from private investors is credited to sale of noncontrolling interests in our Statements of Stockholders’ Equity.

Under ASC 810, Consolidation,

the Company, which is the entity issuing financial statements, is required to consolidate CIC Investors #25, Ltd.

as we have a controlling

interest in CIC Investors #25, Ltd.

as general partner, although the Company has no direct ownership.

of Lease for New Location;

Business Acquisition of “Brendan’s Sports Pub”

Pompano Beach, Florida (Brendan’s Sports

During the third quarter of our

fiscal year 2021, the lease with an unrelated third party for the space located at 9857 SW 40 th Street, Miami, Florida (Store

#90), where a limited partnership owned restaurant, was amended to add approximately 2,100 square feet to the leased premises and extend

the term of the lease through March 31, 2031, with one (1) five (5) year renewal option.

The fixed annual rental for the expanded leased

premises was increased by $5,000 monthly, with fixed annual rental increases.

Otherwise, the extended lease is on substantially the same

terms and conditions as existed before the expansion and extension.

Re-Financing of Existing Mortgage

Mortgage on Real Property – North

Miami, Florida

fiscal year 2022, we entered into a Lease (the “BSP Lease”) with a non-affiliated third party from whom we rented approximately

3,556 square feet of commercial space located at 868 South Federal Highway, Pompano Beach, Florida, where we operate “Brendan’s

Sports Pub” (Store #30), the assets of which we simultaneously purchased.

The term of the BSP Lease is for fifty (50) years, triple

net to the landlord with fixed rent of $78,000 per year, with two (2%) percent annual increases commencing in year five.

Brendan’s Sports Pub, Pompano Beach, Florida

During the third quarter of our

fiscal year 2021, we re-financed with an unrelated third party lender, our mortgage loan encumbering the real property and improvements

located at 13105 – 13205 Biscayne Boulevard, North Miami, Florida where our Flanigan’s Seafood Bar and Grill restaurant and

Big Daddy’s Liquors retail package liquor store operate (Store #20), increasing the principal amount borrowed from $1.5 million

to $4.3 million.

We received the net cash proceeds from the refinancing transaction ($2.8 million) shortly after the end of the third

quarter of our fiscal year 2021.

The re-financed mortgage loan earns interest at the fixed annual rate of 3.63%, is amortized over fifteen

(15) years, requires us to pay monthly payments of principal and interest in the amount of $31,129 with the entire principal balance and

all accrued interest due in July 2036.

We intend to use the excess funds we received from the re-financing of this mortgage loan for working

capital purposes.

SUBSEQUENT EVENTS

Menu Price Increases

fiscal year 2022 and simultaneously with the execution of the BSP Lease, we purchased the assets of the business known as “Brendan’s

Sports Pub” located at 868 South Federal Highway, Pompano Beach, Florida for a purchase price of $75,000, including but not limited

to the furniture, fixtures, equipment and service mark, “Brendan’s Sports Pub”, but excluding the 4 COP liquor license

used in the operation of the business.

We did not assume any obligations of the business.

We accounted for the purchase

of the assets of the business known as “Brendan’s Sports Pub” as a business combination that is insignificant for purposes

of all of the disclosures required under ASC 805.

of 4 COP Liquor License

During our fiscal year 2022,

we purchased a 4 COP Quota Liquor License for Broward County, Florida from an unrelated third party for $445,000.

The liquor license is

currently inactive, but we intend to use it in connection with the operation of the package liquor store we are developing in Miramar,

The 4 COP quota liquor license for Broward County, Florida which we purchased during the third quarter of our fiscal year 2021

and was inactive, was transferred for use in our operation of “Brendan’s Sports Pub”.

Re-Financing of Existing Mortgages

Re-Finance of Mortgage on Real Property –

Fort Lauderdale, Florida

During our fiscal year 2022, we

requested and received a loan advance of $697,000 from an entity managed by a member of our Board of Directors who is also our Chief Financial

Officer, which entity currently holds a first priority mortgage note on our real property and improvements where our restaurant located

at 2600 West Davie Boulevard, Fort Lauderdale, Florida operates (the “West Davie Mortgage Note”).

Including the $697,000 advance,

the principal amount outstanding amount owed under the West Davie Mortgage Note as of October 1, 2022 is $1,100,000.

The West Davie Mortgage

Note accrues interest at 6% annually, (increased from 5% annually), is amortizable over 15 years with monthly installments of principal

and interest of approximately $9,300 required to be made and a final balloon payment of approximately $487,000 required to be made August

Re-Finance of Mortgage on Real Property –

Hallandale Beach, Florida

During our fiscal year 2022, we

re-financed our mortgage debt with our non-affiliated third-party lender relating to our real property located at 4 N.

Federal Highway,

Hallandale, Florida where our combination package liquor store and restaurant (Store #31) operates and borrowed an additional $8,012,000

increasing the principal balance owed by us to $8,900,000, (the “$8.90M Mortgage”).

The $8.90M Mortgage bears interest at

a variable rate equal to the BSBY Screen Rate – 1 Month plus 1.50%.

We entered into an interest rate swap agreement to hedge the

interest rate risk, which fixed the interest rate on the $8.90M Mortgage at 4.90% per annum throughout its term.

The $8.90M Mortgage is

fully amortized over fifteen (15) years, with our monthly payment of principal and interest totaling $33,000.

Re-Opening of Re-Constructed Package Liquor Store –

Hollywood, Florida

Subsequent to the end of our fiscal

year 2021, we increased menu prices for our food offerings to target an increase to our food revenues of approximately 8.55% annually

and menu prices for our bar offerings to target an increase to our bar revenues of approximately 7.68% annually to offset higher food

and bar costs and higher overall expenses.

of 2 nd PPP Loans

Subsequent to the end of

our fiscal year 2021, application was made and we received forgiveness of the entire amount of principal and accrued interest on the 2 nd

PPP Loans, including the Managed Store.

General Liability Insurance;

Excess Insurance

For the policy year beginning

December 30, 2021, we bound general liability insurance with an unrelated third party insurance carrier which incorporates a deductible

of $10,000 per occurrence for both us and the limited partnerships.

Our insurance carrier is responsible for $1,000,000 coverage per occurrence

above our deductible, up to a maximum aggregate of $2,000,000 per year.

We were also able to bind excess liability insurance at a reasonable

premium, whereby our excess insurance carrier is responsible for $10,000,000 coverage above our primary general liability insurance coverage.

We are uninsured against liability claims in excess of $11,000,000 per occurrence and in the aggregate.

Certain expenses incurred in defending

a claim, including attorney's fees, are a part of our $10,000 deductible.

Property Insurance;

For the policy year beginning

December 30, 2021, our property insurance is a one (1) year policy with an unaffiliated third party insurance carrier, including coverage

for properties leased by us and our consolidated limited partnerships, and provides for full insurance coverage for property losses, including

those caused by windstorm, such as a hurricane.

For property losses caused by windstorm, the property insurance has a fixed deductible

of $100,000, plus 5% of all insured losses, per occurrence.

For all other property losses, the property insurance has deductibles of $10,000

per location, per occurrence.

year 2022, the package liquor store which was formerly a part of our combination package liquor store and restaurant located at 2505 N.

University Drive, Hollywood, Florida (Store #19) and was forced to close due to damage from a fire during the first quarter of our fiscal

year 2019 re-opened for business in a newly constructed, free-standing building on the adjacent property located at 7990 Dave Road Extension,

Hollywood, Florida (Store #19P).

Insurance Premiums

For the policy year commencing

December 30, 2021, we financed the premiums on the following property, general liability, excess liability and terrorist policies, totaling

approximately $2.54 million, which property, general liability, excess liability and terrorist insurance includes coverage for our franchises

which are not included in our consolidated financial statements:

policy year beginning December 30, 2021, our general liability insurance, excluding limited partnerships, is a one (1) year policy with

our insurance carriers.

Subsequent to the end of our fiscal

year 2022, for the policy year commencing December 30, 2022, we bound coverage on the following property, general liability, excess liability

and terrorist policies with premiums totaling approximately $3.281 million, which property, general liability, excess liability and terrorist

insurance includes coverage for our franchises (which is $658,000), which are not included in our consolidated financial statements:

the policy year beginning December 30, 2022, our general liability insurance, excluding limited partnerships, is a one (1) year policy

with our insurance carriers.

The one (1) year general liability insurance premium is in the amount of $512,000;

8 unchanged sentences

is in the amount of $1,248,000;

policy year beginning December 30, 2021, our excess liability insurance are two (2) one (1) year policies.

The aggregate (1) year excess

liability insurance premiums are in the amount of $576,000;

the policy year beginning December 30, 2021, our terrorist insurance is a one (1) year policy.

The one (1) year terrorist insurance premium

is in the amount of $8,900;

(vii) For the policy year beginning December 30, 2021,

our equipment breakdown insurance is a one (1) year policy.

The one (1) year equipment breakdown insurance premium is in the amount of

Of the $2,542,000 annual

premium amounts, which includes coverage for our franchises which are not included in our consolidated financial statements, we financed

$2,328,000 through an unaffiliated third party lender.

The finance agreement obligates us to repay the amounts financed together with

interest at the rate of 2.55% per annum, over 11 months, with monthly payments of principal and interest, each in the amount of $215,000.

The finance agreement is secured by a first priority security interest in all insurance policies, all unearned premium, return premiums,

dividend payments and loss payments thereof.

Except as otherwise provided

herein, subsequent events have been evaluated through the date these consolidated financial statements were issued and no other events

required disclosure.

the policy year beginning December 30, 2022, our excess liability insurance is a one (1) year policy.

The one (1) year excess liability

insurance premium is in the amount of $634,000;

For the policy year beginning December 30, 2022, our terrorist insurance is a one (1) year policy.

The one (1) year terrorist insurance

premium is in the amount of $14,000;

the policy year beginning December 30, 2022, our equipment breakdown insurance is a one (1) year policy.

The one (1) year equipment breakdown

insurance premium is in the amount of $11,000.

Of the $3,281,000 annual premium

amounts, which includes coverage for our franchises which are not included in our consolidated financial statements, we paid the annual

premium amounts in full with no financing due to high interest rates.

Payoff of Term Loan

Subsequent to the end of our fiscal

year 2022, we satisfied the principal balance and all accrued interest due on our $5.5 million term loan to our unrelated lender.

outstanding principal balance ($367,000) and accrued interest ($-0-) was paid in full on December 28, 2022.

Subsequent events have been evaluated

through the date these consolidated financial statements were issued and except as disclosed herein, no other events required disclosure.

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.

What changed 10-K

Item 2. Properties