−Removed: Our principal executive offices are located at 6201 Fairview Road, Suite 225, Charlotte, North Carolina, where we lease office space from an independent third party, GT Real Estate USA, LLC, with an area of approximately 2,514 square feet, a lease term from December 1, 2020 to December 31, 2023 and a monthly rent of approximately $6,354.
+Added: Our principal executive offices are located at 8707 Research Drive, Irvine, California.
+Added: We lease this office from an independent third party, Zina Development, LLC.
+Added: The office space is approximately 15,000 square feet, with the lease spanning from July 23, 2024, to July 31, 2027.
+Added: The monthly base rent ranges from $42,000 to $45,427, increasing gradually over the lease term.
+Added: We have posted a security deposit of $100,000, which the lessor may use under certain circumstances as specified in the lease.
+Added: The lease also includes customary provisions regarding termination, renewal, and expense arrangements.
+Added: We also lease an office located at 6201 Fairview Road, Suite 225, Charlotte, North Carolina, from an independent third party, GT Real Estate USA, LLC, with an area of approximately 2,514 square feet.
On April 28, 2023, we entered into an amendment to our current lease, extending its term to February 28, 2027, with a monthly rent of approximately $6,639.
On July 25, 2023, GT Real Estate USA, LLC transferred all of its lease rights to two Delaware LLCs, WILVI 6201 SPE LLC and BILA 6201 SPE LLC.
−Removed: This office is used as our corporate headquarter for general business operations and administrative functions.
−Removed: Allen-Boy, one of our subsidiaries, leases office space for business operations in Charlotte, North Carolina, from an independent third party, Sounder Properties Inc., with an area of approximately 225 square feet, a lease term from October 1, 2022 to September 30, 2023, and a monthly rent of $465.
−Removed: In September 2023, we renewed the lease with a monthly rent of $505, for a term commencing on October 1, 2023 and ending on September 30, 2024.
+Added: On January 10, 2025 and January 31, 2025, we sent two letters to the lessor requesting to terminate the lease, as we had vacated the property.
+Added: As of the date of this annual report, we have ceased to pay rent per the Company’s legal counsel advice.
+Added: Allen-Boy, one of our subsidiaries, leases office space for its business operations in Charlotte, North Carolina, from an independent third party, Sounder Properties Inc., with an area of approximately 225 square feet.
+Added: The current lease term is from October 1, 2024, to September 30, 2025, with a monthly rent of $535.
This office is the address for our dealer license.
−Removed: Pacific, one of our subsidiaries, leases an office in New York City, New York, from an independent third party, Executive Workspace LLC, with an area of approximately 1,692 square feet, a lease term from August 1, 2021 to September 30, 2023, and a monthly rent of approximately $11,174.
−Removed: On September 26, 2023, we amended the lease to include an additional office space of approximately 1,591 square feet and extended its term to February 29, 2024.
−Removed: On February 2, 2024, we further renewed the lease, extending its term to May 31, 2024.
−Removed: This lease currently carries a monthly rent of $9,944.
−Removed: This office is used to support business operations for employees based in New York.
+Added: Pacific, one of our subsidiaries, leased an office in New York City, New York, from an independent third party, Executive Workspace LLC, with an area of approximately 1,692 square feet.
+Added: On September 26, 2023, we amended the lease to include an additional office space of approximately 1,591 square.
+Added: The lease expired on August 31, 2024.
Edward, which became one of our subsidiaries on February 2, 2024, had previously been in a collaborative partnership with us as providers for vehicle storage and logistics services throughout the year ended December 31, 2023.
Following our acquisition of Edward in 2024, we assumed responsibility for a lease agreement for its warehousing facility located in Gardena, California, covering approximately 8,800 square feet.
−Removed: This lease agreement, now under our management, has been entered into with an independent third party, SCI Ventures, Inc.
−Removed: The current lease is set to expire on August 31, 2028, with a monthly rent of approximately $13,500.
+Added: The current lease is set to expire on August 31, 2028, with a monthly rent ranging from $13,500 to $16,425, increasing gradually over the lease term.
The leased warehousing facility enhances our logistics capabilities and operational efficiency.
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