Business Context and Reporting Period
Company: Nexalin Technology, Inc. (NXL)
Filing Type: Form 8-K (Current Report)
Date of Report: July 28, 2026
Reporting Period: Event date July 28, 2026
Business Context: The Company, an emerging growth company incorporated in Delaware, operates its headquarters in Houston, Texas. This filing reports the entry into a material definitive agreement regarding its primary office space.
Key Financial Metrics
This filing does not contain revenue, profit, cash flow, margin, debt, or liquidity metrics. It focuses exclusively on the terms of a lease amendment.
| Lease Metric | Value |
|---|---|
| Existing Premises Size | 3,623 rentable square feet |
| Expansion Space | 904 rentable square feet |
| Total Premises Size | 4,527 rentable square feet |
| Initial Monthly Base Rent (Pre-expansion) | Approx. $5,435 |
| Monthly Base Rent (Post-expansion) | Approx. $5,470 to $6,413 |
| Lease Term Extension | 65 calendar months (commencing March 1, 2026) |
| Rent Abatement | Five months following delivery of expansion space |
Material Changes
The Company amended its 2012 Office Lease with Nutex HQ LLC. The material changes include:
- Space Expansion: Addition of approximately 904 square feet to the existing headquarters.
- Term Extension: Extension of the lease term for 65 months starting March 1, 2026.
- Rent Structure: Implementation of a stepped rent structure ranging from $5,470 to $6,413 per month for the combined space, subject to annual increases.
- Incentives: Grant of a five-month base rent abatement contingent on compliance with lease obligations.
Outlook, Risks, and Contingencies
Management Commentary: The Company has secured additional space for its headquarters with an option to extend the lease for an additional five-year period at prevailing market rates.
Risks and Contingencies:
- The rent abatement is subject to the Company's compliance with its obligations under the Lease.
- The Company remains responsible for its proportionate share of operating expenses and real property taxes.
- Future rent payments are subject to annual increases.
Investor Verification Checklist
- Verify the full text of the Third Amendment to the Office Lease, which is filed as an exhibit to the Form 10-Q for the period ended June 30, 2026.
- Confirm the delivery date of the expansion space to determine the start of the rent abatement period.
- Review the specific formula for annual rent increases and the definition of "prevailing market rate" for the five-year extension option.
- Assess the impact of the increased monthly rent and operating expense obligations on the Company's future cash flow projections.