What changed in this filing

/stocks — the workspaceLOADING

Item 2. Properties

2021-10-27 compared with 2020-11-16 · 29 added, 33 removed, 2 unchanged (97% of the section changed)

ITEM 2 – PROPERTIES

We lease approximately 13,500 square feet

of office space in Lancaster, California.

The original lease had a five-year term with two, three-year options to extend.

five-year term expired in February 2011, and we extended the lease to February 2, 2014.

In June 2013, the lease was amended to

extend the term to February 2, 2017.

The amended lease also provides for an annual base rent increase of 3% per year and two, two-year

options to extend.

In May 2016 the Company exercised two, two-year options extending the term of the lease through February 2,

2021 at a fixed rate of $25,000 per month.

The new extension agreement gives the Company the right, upon 90 days’ prior notice,

to terminate the lease in the last two years of the term upon payment of a recapture payment equal to the 3% base payment increase

that would have been due under the original agreement.

Our Buffalo subsidiary leases approximately

12,623 square feet of space in Buffalo, New York.

The initial five-year term expired in October 2018 and was renewed for a three-year

option to extending it to November 2021.

The new base rent is $16,147 per month.

DILIsym leases approximately 2,700 square

feet of space in Research Triangle Park, North Carolina.

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

to the initial lease became effective April 1, 2020.

This amendment added 686 square feet and extended the term of the lease to

September 30, 2023.

The new base rent is approximately $7,500 per month with an annual 3% adjustment.

In Paris, France Lixoft leases approximately

2,300 square feet of office space, which as of April 1, 2020, had minimum payments equaling approximately $288,000.

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

The rent is $16,555 per quarter

and can be adjusted each December based on a consumer price index.

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 fiscal years ended August 31, 2020, 2019 and 2018 was $644,000, $584,000, and $567,000, respectively.

The Company believes its existing facilities

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

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.

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