What changed in this filing

/stocks — the workspaceLOADING

Item 2. Properties

2022-10-28 compared with 2021-10-27 · 19 added, 30 removed, 1 unchanged (98% of the section changed)

ITEM 2 – PROPERTIES

Our corporate headquarters is in Lancaster, California,

where we lease 9,255 square feet of office space.

The term of the lease extends to January 31, 2026 and the base rent is approximately

$17 thousand per month.

The lease agreement gives the Company the right, upon 180 days’ prior notice, to opt out of all or part

of the last four years of the term, with no penalty.

We lease 12,623 square feet of office space in

Buffalo, New York.

The initial five-year lease term expired in October 2018 and was renewed for a three-year option, extending it to November

2021, at a base rent of approximately $16 thousand per month.

On August 3, 2021, a new lease agreement for a different property was signed

for a five-year term at a base rent of approximately $7 thousand per month with an annual 2% increase, and with two, five-year renewal

Due to ongoing construction, the Company has not yet moved into the new property but anticipates doing so and commencing the

lease term no later than November 2021.

We lease approximately 2,700 square feet of space

in Research Triangle Park, North Carolina.

The initial three-year term was due to expire in October 2020.

An amendment to the initial

lease became effective April 1, 2020, which added 686 square feet and extended the term of the lease to September 30, 2023.

rent is approximately $8 thousand per month with an annual 3% increase.

We lease approximately 2,300 square feet of office

space in Paris, France.

As of April 1, 2020, the lease agreement had minimum payments equaling approximately $288 thousand.

is for a 9-year term, with an option to terminate every 3 years, and expires in November of 2024.

The base rent is $16 thousand per quarter

(approximately $5.3 thousand per month) and can be adjusted each December based on a consumer price index.

Rent expense, including common area maintenance

fees for the years ended August 31, 2021, 2020, and 2019 was $655 thousand, $644 thousand, and $584 thousand, respectively.

The Company believes its existing facilities and

equipment are in good operating condition and are suitable for the conduct of its business.

We lease 9,255 square feet of office space in Lancaster, California, where our corporate headquarters are located.

The lease term extends to January 31, 2026, and the base rent is $17 thousand per month.

The lease agreement gives the Company the right, upon 180 days’ prior notice, to opt out of all or part of the last four years of the term, with no penalty.

We lease 4,317 square feet of office space in Buffalo, New York.

The lease term extends to November 30, 2026, and the base rent is $7 thousand per month with an annual 2% increase.

The lease agreement provides the Company with two five-year renewal options and the right to terminate the lease with one year’s prior written notice with certain penalties.

We previously leased 12,623 square feet of office space at a different location in Buffalo, New York.

That lease term extended to November 2021 and the base rent was $16 thousand per month.

We have a data center colocation space in Buffalo, New York, with a lease term through November 30, 2026, and rent of $4 thousand per month with an annual 3% increase.

We lease 3,386 square feet of office space in Durham, North Carolina.

The lease term extends to September 30, 2023, and the base rent is $8 thousand per month with an annual 3% increase.

We lease 2,300 square feet of office space in Paris, France.

The lease term extends to November 30, 2024, and the rent is $5 thousand per month and adjusted each December based on a consumer price index.

The Company believes its existing facilities and equipment are in good operating condition and are suitable for the conduct of its business.

ITEM 3 – LEGAL PROCEEDINGS

We may become subject to litigation, claims, investigations, and audits arising from time to time in the ordinary course of our business.

At this time, however, we are not a party to any legal proceedings and are not aware of pending legal proceedings.

ITEM 4 – MINE SAFETY DISCLOSURES.

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.

What changed 10-K

Item 2. Properties