Item 2. Properties
Item 2.
Properties.
Our principal executive, manufacturing
and research and development offices are located at MATAM Advanced Technology Park, Building No. 5, Haifa, Israel, where we occupy approximately
4,389 square meters. Our gross monthly rent payment for these leased facilities as of July 2021 was 263,000 NIS (approximately $80,000).
For Fiscal Year 2021, we recognized a net expense (rent expenses after deducting deferred participation payments from MATAM) in the amount
of $702,000, according to the implementation of Accounting Standards Update No. 2016-02, “Leases.”
We believe that the current
space we have is adequate to meet our current and foreseeable future needs.
Item 3. Legal Proceedings.
None.
Item 4. Mine Safety Disclosures.
Not applicable.
32
PART
II
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.