© Reuters.
Aditxt, Inc. (NASDAQ:ADTX), a biotech company, is currently in default for failing to pay over $40,000 in rent and additional charges, as per a notice received from its landlord, 532 Realty Associates, LLC, on March 6, 2024. The default is related to an Agreement of Lease dated November 3, 2021, which outlines the terms for Basic Rent and Additional Rent owed by the company.
The total past due amount stated in the notice is $40,707. Aditxt has acknowledged the situation and is in discussions with the landlord to resolve the matter. Despite efforts to reach an amicable agreement, there is no guarantee that a favorable or timely solution will be found.
Beyond the immediate past due rent, Aditxt is also responsible for the ongoing financial obligations under the lease, which are estimated to be about $85,000 for the remainder of the term. This sum does not include any potential offset from net proceeds the landlord may receive if the premises are re-leased.
The inability to settle the lease defaults could significantly impact Aditxt’s liquidity, as well as its overall financial health and operational results. The company’s current predicament underscores the challenges it faces and the potential consequences of not addressing its financial obligations promptly.
This situation is based on information provided by an 8K SEC filing by Aditxt, Inc. and reflects the company’s current financial and operational challenges.
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