−Removed: Our executive offices and manufacturing
−Removed: facility are located at 2361 McGaw Avenue, Irvine, California 92614.
−Removed: We lease the 28,000 square foot facility from an unrelated third
−Removed: party at a current base monthly lease rate of approximately $41,000 with 3% annual escalations through the expiration of the lease in
−Removed: September 2027.
−Removed: The building is a one-story, stand-alone structure of concrete “tilt-up” construction, approximately 30 years
−Removed: old and in good condition.
−Removed: We are currently preparing the Franklin
−Removed: Property, located at 14401 Franklin Avenue, Tustin, California 92780, for our move-in.
−Removed: We purchased this 25,000 square foot facility in
−Removed: November 2020 from an unrelated third party through a loan (See Note 8 of to the consolidated financial statements contained elsewhere
−Removed: in this report) and while we have moved some staff over there during fiscal 2022, we plan to move our assembly and repairs teams once
−Removed: our validations are completed, currently expected in the third quarter of fiscal 2023.
−Removed: The building is a one-story, stand-alone structure
−Removed: of concrete “tilt-up” construction, approximately 45 years old and in good condition.
+Added: Our executive offices and
+Added: manufacturing facility are located at 2361 McGaw Avenue, Irvine, California 92614.
+Added: We lease the 28,000 square foot facility from an unrelated
+Added: third party at a current base monthly lease rate of approximately $42,000 with 3% annual escalations through the expiration of the lease
+Added: in September 2027.
+Added: The building is a one-story, stand-alone structure of concrete “tilt-up” construction, approximately 45
+Added: years old and in good condition.
+Added: Our Franklin Property, located
+Added: at 14401 Franklin Avenue, Tustin, California 92780, is used primarily for our assembly and repairs operations.
+Added: We purchased this 25,000
+Added: square foot facility in November 2020 from an unrelated third party through a loan (See Note 5 of to the consolidated financial statements
+Added: contained elsewhere in this report).
+Added: The building is a one-story, stand-alone structure of concrete “tilt-up” construction,
+Added: approximately 45 years old and in good condition.
We believe that our facilities
1 unchanged sentence
LEGAL PROCEEDINGS
−Removed: See Note 10 to the consolidated
−Removed: financial statements contained elsewhere in this report.
+Added: Note 10 to the consolidated financial statements contained elsewhere in this report.
MINE SAFETY DISCLOSURES
1 unchanged sentence
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.