lease our principal executive offices which are located at 2465 Farm Market 359 South, Brookshire, TX 77423.
−Removed: The lease for the Company’s
−Removed: principal Executive Officer at 2465 Farm Market 359 South, Brookshire, TX 77423 has a 60-month term beginning on December 1, 2019 and
−Removed: ending on December 31, 2024.
−Removed: also leased a building at 4225 Prado Road, Suite 101, Corona, California 92880, as our California office.
−Removed: This lease has a five-year
−Removed: term beginning on May 1, 2022 and ending on April 30, 2027.
−Removed: In August 2023, our California office was relocated to 21660 Copley Drive,
−Removed: Diamond Bar, CA 91765.
−Removed: We will continue to be obligated to pay the monthly rent for the office in Corona, California until the landlord
−Removed: finds a new lessee to occupy the facility.
−Removed: The new lease in Diamond Bar, CA 91765 has a 24-month term beginning on August 1, 2023 and
−Removed: ending on July 31, 2025.
+Added: The lease for this principal
+Added: Executive Office had a 60-month term beginning on December 1, 2019 and ending on December 31, 2024.
+Added: On January 1, 2024, this facility
+Added: lease was terminated without penalty and a new lease agreement was entered with the landlord.
+Added: The new lease term is from January 1, 2024
+Added: to January 1, 2027, with a monthly rent of $18,000.
+Added: The facility consists of 15,000 square feet of indoor space and 2.5 acres of concrete
+Added: slab in the yard.
+Added: On February 1, 2024, a mutual amendment to the lease agreement was executed.
+Added: Under the terms of the amendment, we opted
+Added: to prepay the lease payments covering the period up to December 31, 2026, with the due date set for April 1, 2024.
+Added: This prepayment arrangement
+Added: secures a rent-free period for the final year of the lease, spanning the entirety of 2027.
+Added: had also entered into a lease agreement for office and production space in Corona, California with a term from May 1, 2022 until April
+Added: 30, 2027 at a rate of $6,617 to $7,740 per month.
+Added: In August 2023, we relocated our California office from Corona to Diamond Bar.
+Added: obligated to pay the monthly rent for the office in Corona until February 1, 2024 when the landlord found a new lessee to occupy the
+Added: The lease in Diamond Bar, California has a term of 24 months from August 18, 2023 to August 17, 2025 at a rate of $4,730 to
+Added: $4,926 per month.
+Added: Subsequently on October 28, 2024, the lease in Diamond Bar was ended and assigned to a nonprofit organization.
lease agreements contain standard commercial lease terms including but not limited to provisions regarding utilities, alterations, maintenance
1 unchanged sentence
believe that our current leased property is in good condition and suitable for the conduct of our business.
−Removed: January 4, 2024, the Company entered into an agreement to acquire certain real property located at 300 South Park Avenue, Pomona, Los
−Removed: Angeles, California.
−Removed: The property will serve as an office and commercial building.
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.