−Removed: corporate headquarters are in Redmond, Oregon, and house our engineering, sales, accounting, and operations staff.
−Removed: Our primary product
−Removed: warehouse is also located there.
−Removed: Our headquarters is approximately 15,000 square feet, leased at a base rent that increases 3.0% annually
−Removed: on January 31st of each year.
−Removed: From January 31, 2023 to January 30, 2024, the rental cost of our headquarters was approximately $19,000
−Removed: also lease a facility in Redmond, Oregon primarily used for warehousing, but it is also expected to be used for our first battery pack
−Removed: assembly plant in the United States.
−Removed: The square footage of this facility is approximately 31,400 square feet, and from February 1, 2023
−Removed: to January 31, 2024, the rental cost of this facility was approximately $32,400 per month.
−Removed: Some of the equipment for the assembly line
−Removed: was received in October 2022 due to a delay by our equipment supplier.
−Removed: We are working on setup and development of additional equipment
−Removed: to automate the line, subject to market conditions.
−Removed: also lease a property in Elkhart, Indiana.
+Added: Our corporate headquarters are in
+Added: Redmond, Oregon, and house our engineering, sales, accounting, and operations staff.
+Added: Our primary product warehouse is also located there.
+Added: Our headquarters is approximately 15,000 square feet, leased at a base rent that increases 3.0% annually on January 31st of each year.
+Added: From January 31, 2024 to January 30, 2025, the rental cost of our headquarters was approximately $19,600 per month.
+Added: We previously leased a facility
+Added: in Redmond, Oregon, which was primarily used for warehousing.
+Added: The square footage of this facility is approximately 33,770 square feet,
+Added: and from February 1, 2024 to September 30, 2024, the rental cost of this facility was approximately $33,340 per month.
+Added: On September 24,
+Added: 2024, we voluntarily terminated the lease, effective as of October 1, 2024 as part of an effort to identify cost reduction opportunities.
+Added: We plan to continue operating our warehousing out of its Redmond, Oregon headquarters and Elkhart, Indiana locations.
+Added: In connection with
+Added: the termination of the lease, we paid one extra month’s rent, a $30,000 fee, and a broker commission of approximately $89,000.
+Added: lease termination is expected to result in approximately $40,000 of cost savings per month over the 51 months following its termination.
+Added: We also lease a property in Elkhart,
In 2024, it served to provide a stocking location for several large manufacturers in the area.
−Removed: Elkhart is a hub for RV manufacturing in the United States.
−Removed: Currently it is primarily used for office space, and a backup location for
−Removed: warehousing and distribution to local customers.
−Removed: The square footage of this facility is approximately 7,000 square feet, leased at a
−Removed: cost of $4,900 per month.
−Removed: believe that these facilities are sufficient to meet our current and anticipated needs in the near term and that additional space can
−Removed: be obtained on commercially reasonable terms as needed.
+Added: Elkhart is a hub for RV manufacturing
+Added: in the United States.
+Added: Currently, it is primarily used for office space and as a backup location for warehousing and distribution to local
+Added: The square footage of this facility is approximately 7,000 square feet, leased at a cost of $4,900 per month.
+Added: We believe these facilities are
+Added: sufficient to meet our current and anticipated needs in the near term and that additional space can be obtained on commercially reasonable
+Added: terms as needed.
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.