Limoneira Company 8-K Summary
Business Context and Reporting Period
This Form 8-K was filed on February 6, 2015, reporting events that occurred on February 5, 2015. Limoneira Company, a Delaware corporation, reported the expansion of its agricultural operations through lease modifications and assignments with Cadiz Real Estate LLC.
Key Financial Metrics
The filing details specific capital expenditures related to the lease expansion but does not provide comprehensive financial statements, revenue, profit, cash flow, margins, debt, or liquidity metrics for the reporting period.
- Lease Expansion Cost (Amendment): Approximately $70,000 paid for existing lemon trees and irrigation systems on 20 acres.
- Lease Assignment Cost: Approximately $1.1 million paid for 180 acres of existing lemon trees and irrigation systems.
- Total Property Increase: 200 acres added to the property leased from Cadiz.
Material Changes
The primary material change is the increase in leased acreage from Cadiz Real Estate LLC. The Company executed a Modification of Lease Agreement expanding the lease by 20 acres and an Assignment of a lease for an additional 180 acres. These transactions increased the total leased property from Cadiz by 200 acres in aggregate.
Outlook and Management Commentary
Management announced the execution of these agreements via a press release (Exhibit 99.1). The filing does not contain forward-looking guidance, risk factors, or commentary on future financial performance beyond the immediate operational expansion.
Investor Verification Checklist
- Verify the total capital impact of the $1.17 million combined expenditure on the Company's cash position.
- Confirm the long-term lease terms and rental obligations associated with the new 200 acres.
- Review the attached press release (Exhibit 99.1) for strategic rationale regarding the expansion.
- Assess the impact of these acquisitions on future production capacity and operating costs.