1 unchanged sentence
Business ”, above and incorporated in this Item 2 by reference.
+Added: Additional information regarding our oil and gas properties can be found in “Part II” - “ Item 8 Financial Statements and Supplementary Data” - “Supplemental Oil and Gas Disclosures (Unaudited) ”.
Office Leases
3 unchanged sentences
The Company paid a security deposit of $9,600.
−Removed: On November 1, 2019, the Company began subleasing approximately 300 square feet of office space at its current headquarters to SK Energy, which is owned and controlled by Simon Kukes, our Chief Executive Officer and a member of the Board of Directors.
+Added: In December 2022, the Company entered into a new lease agreement for its existing office space that will commence on September 1, 2023, and expire on February 28, 2027.
+Added: The base monthly rent will be approximately $9,200 for the first 18 months and increase to approximately $9,500 thereafter.
+Added: The Company paid both a security deposit and prepaid rent for $14,700, respectively.
+Added: On November 1, 2019, the Company began subleasing approximately 300 square feet of office space at its current headquarters to SK Energy, which is owned and controlled by Dr.
+Added: Kukes, our Chief Executive Officer and a member of the Board of Directors.
The lease renews on a monthly basis, may be terminated by either party at any time upon prior written notice delivered to the other party, and has a monthly base rent of $1,200.
+Added: Effective September 1, 2022, the Company extended the sublease agreement with SK Energy whereby SK Energy paid a $24,000 non-refundable two-year rent payment to the Company.
For the years ended December 31, 2022 and 2021, the Company incurred lease expense of $99,000 and $95,000, respectively, for the combined leases.
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.