−Removed: of September 30, 2021, we own 51 real estate properties.
−Removed: On 37 of these properties, we operate clubs or restaurants, including
−Removed: those temporarily closed.
+Added: As of September 30, 2022, we own 66 real estate properties.
+Added: On 49 of these properties, we operate clubs or restaurants, including those temporarily closed.
We lease multiple other properties to third-party tenants.
−Removed: Four of our owned properties are in locations
−Removed: where we previously operated clubs, but now lease the buildings to third parties.
−Removed: Ten are non-income-producing properties for
−Removed: corporate use (including our corporate office) or future club or restaurant locations, or
−Removed: may be offered for sale in the future.
−Removed: Eleven of our clubs and restaurants are in leased locations.
−Removed: Our principal corporate office is located at 10737
−Removed: Cutten Road, Houston, Texas 77066, consisting of a 21,000-square foot corporate office and an 18,000-square foot warehouse facility.
−Removed: In March 2021, we acquired approximately 57,000-square foot of land across the street from our corporate office.
−Removed: We plan to build
−Removed: a warehouse on that land in the coming months.
−Removed: See Note 15 to our consolidated financial statements.
−Removed: is a list of locations we operated as of September 30, 2021:
−Removed: of Establishment
−Removed: Year Acquired/Opened
+Added: Five of our owned properties are in locations where we previously operated clubs, but now lease the buildings to third parties.
+Added: Twelve are non-income-producing properties for corporate use (including our corporate office) or future club or restaurant locations, or may be offered for sale in the future.
+Added: Fourteen of our clubs and restaurants are in leased locations.
+Added: Our principal corporate office is located at 10737 Cutten Road, Houston, Texas 77066, consisting of a 21,000-square foot corporate office and an 18,000-square foot warehouse facility.
+Added: Below is a list of locations we operated as of September 30, 2022:
+Added: Name of Establishment Fiscal Year Acquired/Opened
Club Onyx, Houston, TX 1995
1 unchanged sentence
XTC Cabaret, Austin, TX 1998
−Removed: XTC Cabaret, San Antonio, TX
+Added: Scarlett's Cabaret, San Antonio, TX 1998
Rick’s Cabaret, New York City, NY 2005
Club Onyx, Charlotte, NC 2005 (1)
−Removed: Rick’s Cabaret, San Antonio, TX
−Removed: XTC Cabaret, South Houston
+Added: Jaguars Club, San Antonio, TX 2006
Rick’s Cabaret, Fort Worth, TX 2007
11 unchanged sentences
Jaguars Club, Longview, TX 2012
−Removed: Jaguars Club, Tye, TX
+Added: Jaguars Club, Abilene, TX 2012
Jaguars Club, Edinburg, TX 2012
3 unchanged sentences
Bombshells, Dallas, TX 2013
−Removed: Temptations, Sulphur, LA
+Added: Scarlett's Cabaret, Sulphur, LA 2013
Temptations, Beaumont, TX 2013
18 unchanged sentences
Bombshells 59, Houston, TX 2020
−Removed: Currently closed.
−Removed: property leases are typically for a fixed rental rate without revenue percentage rentals.
−Removed: The lease terms generally have initial terms
−Removed: of 10 to 20 years with renewal terms of 5 to 20 years.
−Removed: At September 30, 2021, certain of our owned properties were collateral for mortgage
−Removed: debt amounting to approximately $102.3 million.
+Added: Diamond Cabaret, Denver, CO 2022 (1)
+Added: Scarlett's Cabaret, Denver, CO 2022
+Added: PT's Showclub, Denver, CO 2022
+Added: La Boheme Gentlemen's Cabaret, Denver, CO 2022 (1)
+Added: Diamond Cabaret, St.
+Added: Louis, IL 2022 (1)
+Added: Country Rock Cabaret, St.
+Added: Louis, IL 2022 (1)
+Added: PT's Showclub, Indianapolis, IN 2022
+Added: Rick's Cabaret, Raleigh, NC 2022 (1)
+Added: Rick's Cabaret, Portland, ME 2022
+Added: PT's Showclub, Louisville, KY 2022
+Added: PT's Centerfold, Denver, CO 2022
+Added: Mansion Gentlemen's Club & Steakhouse, Newburgh, NY 2022
+Added: Bombshells, Arlington, TX 2022
+Added: Playmates Club, Miami, FL 2022
+Added: Cheetah Gentlemen's Club, Miami, FL 2022
+Added: PT's Showclub, Odessa, TX 2022
+Added: (1) Leased location.
+Added: Our property leases are typically for a fixed rental rate with contingent rent for certain locations.
+Added: The lease terms generally have initial terms of 10 to 20 years with renewal terms of 5 to 20 years.
+Added: At September 30, 2022, certain of the properties we own were collateral for mortgage debt amounting to approximately $123.0 million.
+Added: We believe that our existing facilities, both owned and leased, are in good condition and adequate and suitable for the conduct of our business.
See related information in Notes 6 and 9 to our consolidated financial statements.
Legal Proceedings.
−Removed: the “ Legal Matters ” section within Note 11 to our consolidated financial statements within this Annual Report on Form
−Removed: 10-K for the requirements of this Item, which section is incorporated herein by reference.
+Added: See the “ Legal Matters ” section within Note 11 to our consolidated financial statements within this Annual Report on Form 10-K for the requirements of this Item, which section is incorporated herein by reference.
Mine Safety Disclosures.
+Added: Not applicable.
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.