2 - PROPERTIES
−Removed: corporate headquarters and production facility totals approximately 63,200 square feet and is located in Vista, California.
−Removed: production facility is ISO 9001 certified.
−Removed: In June 2019 we relocated to our current facility, noted above, where we leased approximately
−Removed: 45,600 square feet of industrial space.
−Removed: In April 2020, we leased an additional 17,600 rentable space under a lease which terminates
−Removed: concurrently with the term for the lease of the original lease, which expires on November 20, 2026.
−Removed: Monthly rent for the total
−Removed: space is approximately $58,700 per month and escalates approximately 3% per year through the end of the lease term on November
−Removed: We also subleased space to a related party, Epic Boats, on a month-to-month basis at a rate of 10% of lease expense
−Removed: during Fiscal 2019, and such sublease ended on June 30, 2019.
−Removed: Total rent expense was approximately $673,000 and $168,000 for the
−Removed: years ended June 30, 2020 and 2019, respectively, net of sublease income.
+Added: corporate headquarters and production facility consist of approximately 63,200 square feet and is located in Vista, California.
+Added: Our production
+Added: facility is ISO 9001 certified .
+Added: We lease the property.
+Added: Monthly rent for the total space is approximately $60,500 per month and
+Added: escalates approximately 3% per year through the end of the lease term on November 20, 2026.
+Added: Total rent expense was approximately $841,000
+Added: and $673,000 for the years ended June 30, 2021 and 2020, respectively.
+Added: believe that our leased property is in good condition and suitable for the conduct of our business.
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.