Currently, we do not own any real estate.
−Removed: Our principal executive offices
−Removed: are located at Northlands Business Park at 170-171 Bush Telegraph Avenue, North riding, Johannesburg, South Africa.
−Removed: We have entered into
−Removed: a lease for this 8,783 square foot facility.
−Removed: We believe that our properties are adequate for our current needs, but growth potential may
−Removed: require larger facilities due to anticipated addition of personnel.
−Removed: This is the primary location of our manufacturing plant.
−Removed: § The lease term:
−Removed: Three years commencing February 1, 2020
−Removed: until January 31, 2023.
−Removed: § Extension terms:
−Removed: Management is already in talks with the
−Removed: landlord to extend the lease for another 3 years.
−Removed: An independent third party has been appointed to negotiate a fair arm’s length
−Removed: market related lease rate to comply with ASC 850-10-50-6.
−Removed: Refer to related party disclosures around this relationship.
−Removed: At present there
−Removed: is no indication of any events which could cause non-renewal of the lease.
+Added: Our principal
+Added: executive offices and manufacturing facility are located at Northlands Business Park at 170-171 Bush Telegraph Avenue, North riding, Johannesburg,
+Added: South Africa.
+Added: We have entered into a lease for this 8,783 square foot facility.
+Added: We believe that our properties are adequate for our current
+Added: needs, but growth potential may require larger facilities due to the anticipated addition of personnel.
+Added: Three years commencing August 1, 2023 until July 31, 2026.
Rent is approx.:
−Removed: $3,182 per month (Excluding Value Added
−Removed: § No Escalation clause for the Three year term
−Removed: § Rates taxes and Levies are billed in addition to the Rent
−Removed: § DISA Medinotec pays its own utility bills to the local service
+Added: $2,546 per month (Excluding Value
+Added: Rates taxes and Levies are billed in addition to the
+Added: DISA Medinotec pays its own utility bills to the local
+Added: service providers
We do not have any policies regarding investments in real estate, securities,
1 unchanged sentence
Please refer to related party footnotes in the financial statements and
−Removed: as disclosed in the Section of this Annual Report, entitled, “Certain Relationships and Related Transactions” for the related
−Removed: party effects of the lease.
+Added: as disclosed in the Section of this Annual Report, entitled, “Certain Relationships and Related Transactions, and Director Independence”
+Added: for the related party effects of the lease.
+Added: We are also currently renting office and storage space in Long Island,
+Added: New York with the following terms attached to the lease:
+Added: Twelve months commencing July 1, 2023 until June 30, 2024.
+Added: Rent is approx.:
+Added: $1,601 per month
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.