What changed in this filing

/stocks — the workspaceLOADING

Item 2. Properties

2024-09-30 compared with 2023-09-28 · 26 added, 11 removed, 16 unchanged (70% of the section changed)

We lease approximately 12,775

square feet of office space in San Diego, California, at a monthly rent of $25,754, pursuant to a lease expiring in December 2023.

addition to monthly rent, the lease includes payment for certain common area costs.

Our facility is covered by an appropriate level of

insurance, and we believe it to be suitable for our use and adequate for our present needs.

Rent expense related to this property was

$309,053 for the years ended June 30, 2023 and 2022.

Our Korea-based subsidiary,

FTI, leases approximately 10,000 square feet of office space, at a monthly rent of approximately $8,000, and additional office space consisting

We leased approximately 12,775

square feet of office space in San Diego, California, at a monthly rent of $25,754, pursuant to a lease that expired in December 2023.

On October 19, 2023, we signed a lease for office space consisting of approximately 11,400 square feet, located in San Diego, California,

at a monthly rent of $23,370, which commenced on January 1, 2024.

In addition to monthly rent, the lease includes payment for certain

common area costs.

The term of the lease for the office space is 65 months from the lease commencement date.

Our facility is covered by

an appropriate level of insurance, and we believe it to be suitable for our use and adequate for our present needs.

Rent expense related

to this property was $321,259 and $309,053 for the years ended June 30, 2024 and 2023.

On or about December 7 ,

2023, we received an invoice from our prior landlord, Hunsaker & Associates, requesting payment of additional rent on our completed

and expired lease of office space located at 9707 Waples Street, San Diego, CA as of December 31, 2023.

This invoice of $142,978 purports

to represent charges for variable cost increases during the prior 7 years of the lease, which was discounted by $46,274 and adjusted down

to $96,704 for the three months ended June 30, 2024.

We are currently reviewing these charges and will be requesting further validation

of these charges, in accordance with our rights granted under the lease.

For the year ended June 30, 2024, we recorded an additional rent

expense of $96,704 and an accrued liability of $72,048 reflecting this pending invoice and a credit of $24,656 for our deposit on the

leasehold property.

Our Korea-based subsidiary, FTI,

leases approximately 10,000 square feet of office space, at a monthly rent of approximately $8,000, and additional office space consisting

of approximately 2,682 square feet at a monthly rent of approximately $2,700, both located in Seoul, Korea.

These leases expired on August

31, 2023, and were extended for an additional twelve months to August 31, 2024.

31, 2024, and were extended for an additional 24 months to August 31, 2026.

In addition to monthly rent, the leases provide for periodic

3 unchanged sentences

Rent expense related to these leases

was approximately $128,400 for each of the years ended June 30, 2023 and 2022.

was approximately $112,206 and $128,400 for each of the years ended June 30, 2024 and 2023, respectively.

We lease one corporate housing

8 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.

What changed 10-K

Item 2. Properties