Unresolved Staff Comments
+Added: Not applicable.
+Added: Cybersecurity
+Added: NextPlat uses, stores, and processes data for and about our customers, employees, partners and suppliers.
+Added: We have implemented a cybersecurity risk management program that is designed to identify, assess, and mitigate risks from cybersecurity threats to this data, our systems, and our business operations.
+Added: Cyber Risk Management and Strategy
+Added: Our cybersecurity risk management processes are being integrated into our overall risk management processes.
+Added: We are making efforts to incorporate cybersecurity considerations as a part of our business processes.
+Added: We engage with external cybersecurity experts, including assessors, consultants, and auditors, to enhance our cybersecurity measures and ensure compliance with industry best practices.
+Added: We have established processes to oversee and manage cybersecurity risks associated with our use of third-party service providers, ensuring they adhere to our security standards.
+Added: We review third-party service provider contracts to ensure they contain data privacy and security provisions, aligning with our standards and regulatory requirements.
+Added: We use the National Institute of Standards and Technology Cybersecurity Framework to guide our approach, ensuring a structured and comprehensive strategy for managing cybersecurity risks.
+Added: Risk Management Oversight and Governance
+Added: The Board of Directors has oversight of the Company’s cybersecurity program.
+Added: Our management team, in consultation with the Board of Directors, is responsible for monitoring, preventing, detecting, mitigating and remediating cybersecurity incidents.
Description of Property.
−Removed: December 2, 2021, the Company entered into a 62-month lease for 4,141 square feet of office space in Florida, for $186,345 annually.
+Added: Corporate Office
+Added: On December 2, 2021, the Company entered into a 62-month lease for 4,141 square feet of office space in Coconut Grove, Florida, for approximately $186,000 annually.
The rent increases 3% annually.
The lease commenced upon occupancy on June 13, 2022, and will expire on August 31, 2027.
−Removed: our facilities in Poole, England, we rent office and warehouse space of approximately 2,660 square feet for £30,000 annually or
−Removed: approximately USD $40,000, based on a yearly average exchange rate of 1.3269 GBP:USD.
−Removed: The Poole lease was renewed on October 6, 2022,
−Removed: and will expire October 31, 2023.
−Removed: believe that we have adequate space for our anticipated needs and that suitable additional space will be available at commercially reasonable
−Removed: prices as needed.
+Added: e-Commerce location
+Added: For our facilities in Poole, England, we rent office and warehouse space of approximately 2,660 square feet for £30,000 annually or approximately USD $37,000, based on a yearly average exchange rate of 1.24 GBP:USD.
+Added: The Poole lease was renewed on November 1, 2023, and will expire October 31, 2024.
+Added: Pharmacy locations
+Added: We own approximately 11,000 sq.
+Added: facility at 400 Ansin Blvd, Bay A, Hallandale, Florida.
+Added: The monthly mortgage payment is approximately $12,000.
+Added: During December 2020, Pharmco 901 moved a majority of its pharmacy operations from their North Miami Beach, Florida location to the new 11,000 square foot pharmacy facility in our administrative offices in., Hallandale Beach, Florida.
+Added: We rent pharmacy space at 3208 2 nd Avenue North, Bays 2, 3 and 4, Palm Springs, FL 33461.
+Added: The original lease expired in March 2021 and automatically renewed for an additional 48 months through February 2025.
+Added: The lease agreement calls for monthly payments of approximately $4,300, with an escalating payment schedule each year thereafter.
+Added: We rent pharmacy space at 1160 South Semoran Blvd, Suites D, E, F, Orlando, Florida.
+Added: The lease was entered into and commenced on August 1, 2020 with a 66-month term and expires on February 1, 2026.
+Added: The lease agreement calls for monthly payments beginning February 1, 2021 of $4,310, with an escalating payment schedule each year thereafter.
+Added: Our Pharmco 1204 Davie location moved to North Miami Beach, Florida during August 2021.
+Added: We rent approximately 2,200 square foot of retail and pharmacy space.
+Added: The lease is for five years and commenced on September 1, 2021.
+Added: The lease agreement calls for monthly payments of approximately $5,200, with an escalating payment schedule each year thereafter.
+Added: We believe that we have adequate space for our anticipated needs and that suitable additional space will be available at commercially reasonable prices as needed.
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.