do not own any real property.
−Removed: We moved out of our previous corporate facility located at 3480 Land O’Lakes Blvd, Land O Lakes,
−Removed: Florida 33556 on December 31, 2021 and entered into a lease for our current corporate office space at 2420 Brunello Trace, Lutz, Florida
+Added: We entered into a lease for our current corporate office space at 2420 Brunello Trace, Lutz, Florida 33558
on November 8, 2021.
−Removed: The lease has a five-year term, beginning January 1, 2022, and ending December 31, 2026.
−Removed: Our office space
−Removed: occupies approximately 9,850 square feet.
−Removed: Pursuant to the lease, the Company will also be responsible for water/sewer costs ($140 per
−Removed: month) and its proportionate share of the building’s operating expenses, including property taxes.
−Removed: We paid a security deposit of
−Removed: $38,500 in connection with our entry into the agreement.
−Removed: rental cost under the agreement during the term of the lease, is as follows:
−Removed: January 1, 2023 to December 31, 2023
−Removed: January 1, 2024 to December 31, 2024
−Removed: January 1, 2025 to December 31, 2025
−Removed: January 1, 2026 to December 31, 2026
−Removed: to the lease, we have an option to renew the lease for two additional five-year terms with a mutually agreed increase in rental cost.
−Removed: Company’s obligations under the lease are guaranteed by Suren Ajjarapu, the Company’s Chief Executive Officer and Chairman,
−Removed: but such guarantee has not been formally documented to date.
−Removed: Company also has, pursuant to the terms of the lease, a right to match any offer for purchase on 4.12 acres of Sienna Village I, parcel
−Removed: 26-26-18-0000-04800-000 and 4 buildings totaling 23,048 square feet of office space in its entirety, for a 2-year period commencing with
−Removed: the execution of the lease.
−Removed: We also have a right of first refusal to lease available vacant buildings at the then current market rate
−Removed: only after the landlord has made such space available for leasing.
−Removed: connection with our entry into the lease, we purchased certain furniture and assets of the landlord located at the leased premises for
−Removed: (a) $60,000, payable in 12 installments of $5,000 each, with title to such assets transferring on the date of the last payment, December
−Removed: and (b) $37,500, which was payable upon our entry into the lease agreement, upon which payment, title to such purchased assets
−Removed: This payable has been paid in full as of December 31, 2022.
−Removed: lease contains customary indemnification and termination provisions.
−Removed: In addition, the lease contains customary events of default, including
−Removed: payment defaults, breaches of covenants and/or certain representations and warranties, bankruptcy or insolvency proceedings and other
−Removed: events of default customary for this type of transaction.
−Removed: The lease also contains remedies for such events of default, including the
−Removed: landlord’s right to cure a default (together with our requirement to pay a 15% administrative fee in connection therewith), interest
−Removed: and other amounts, the right to accelerate all amounts due during the remaining term of the lease, termination of the lease and other
−Removed: remedies customary for this type of transaction.
−Removed: entered into a lease for Integra Pharma Solutions, LLC at 6308 Benjamin Road, Tampa, Florida 33634 for approximately $43,000 per
−Removed: year ($3,583 per month) under a five-year lease agreement, effective October 17, 2018, occupying approximately 6,300 square
+Added: The lease included a five-year term, beginning January 1, 2022, and ending December 31, 2026.
+Added: The office space occupies
+Added: approximately 9,850 square feet.
+Added: Pursuant to the lease, the Company is responsible for water/sewer costs ($140 per month) and its proportionate
+Added: share of the building’s operating expenses, including property taxes.
+Added: We paid a security deposit of $38,500 in connection with
+Added: our entry into the agreement, which was surrendered upon termination of the lease in November 2023.
+Added: entered into a lease for Integra Pharma Solutions, LLC at 6308 Benjamin Road, Tampa, Florida 33634 for approximately $43,000 per year
+Added: ($3,583 per month) under a five-year lease agreement, effective October 17, 2018, occupying approximately 6,300 square feet.
+Added: entered into a lease for Superlatus Food Service Holding Company, LLC at 20 Sarine Road, Wurtsboro, New York 12790 for approximately
+Added: $132,000 per year ($11,000 per month) under a three-year lease agreement, effective October 1, 2023.
+Added: As a result of our divestiture of
+Added: Superlatus in March 2024 we no longer have obligations related to this lease.
believe our current and future facilities are adequate for our current and near-term needs.
3 unchanged sentences
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.