Monday, December 11, 2023 9:20:31 AM
Read the lease and loan sections of the filings Here is an excerpt.
.To guarantee the 5-year leases for Wonka #5 and #6 XTRA was obligated to prepay the first and last years’ lease in
the amount of $116,520 and a security deposit of $8,480 for each facility. $75,431 resulted from prepayments and
security deposits paid in cash. $87,285 of the lease prepayment for each lease was made by the transfer of minority
interests in an investment held in a related party. These investments were considered to be potentially impaired
F-14
though accepted as consideration for the lease prepayment and was therefore written off as a loss on asset
impairment. As a result, the Company had a total of $250,000 in lease deposits, incurred a loss of 174,569 and reports lease deposits as follows on September 30, 2023, and 2022:
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