Stereotaxis, Inc. 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Stereotaxis, Inc. on November 24, 2004, covering events occurring on November 18, 2004. The Company, incorporated in Delaware, is based in St. Louis, Missouri.
Key Financial Metrics
The filing does not provide standard financial performance metrics such as revenue, profit, cash flow, margins, or existing debt levels. The only financial data disclosed relates to a new lease obligation:
- Lease Term: 10 years, commencing December 1, 2005, with two 3-year renewal options.
- Minimum Annual Rental: Ranges from approximately $705,000 in 2006 to approximately $1,177,000 in 2015.
- Comparison to Current Costs: The 2006 rental amount is not materially different from the Company's current lease arrangement.
Material Changes
The primary material change is the entry into a definitive office lease agreement with Cortex West Development I, LLC. This agreement secures space in a new building to be constructed by Cortex, where the Company plans to relocate its current St. Louis operations upon completion.
Outlook, Risks, and Management Commentary
Management indicates the move is contingent on the completion of the new building. The filing notes that the initial rental costs are consistent with current terms, suggesting no immediate material increase in occupancy expenses. No other risks, contingencies, or unusual items were disclosed in this specific report.
Investor Verification Checklist
- Verify the construction timeline for the new building to confirm the December 1, 2005, move-in date.
- Review the Company's liquidity position to ensure it can meet the escalating rental payments through 2015.
- Confirm the total square footage and expansion space details included in the lease.
- Check for any subsequent filings regarding the status of the construction or the lease agreement.