Company: ARTL
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0001640334-25-000335
Chunk: 675

Company: ARTELO BIOSCIENCES, INC.
Filing Date: 2025-03-03
Form: 10-K
Item: Item 4
Chunk 675
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1, the Company entered into a lease arrangement for office space in the U.S. with Beckman/Lomas LLC, an entity controlled by a close family member of a director. Effective June 1, 2022, the related party divested its interests in the property, and as such, the lease agreement no longer constitutes a related party transaction. On March 6, 2024, the Company entered into an amended agreement with the landlord to extend the lease commencing in September 2024, and effective until August 2027. On April 19, 2022, the Company entered into a 2nd lease arrangement for office space in the U.K. with an annual rent of $13 (£11) with the term of April 2022 through September 2023. The following summarizes right-of use asset and lease information about the Company’s operating leases as of December 31, 2024:   Year ended   December 31,   2024  2023        Lease cost:      Operating lease cost $32  $40          Other information:        Cash paid for operating cash flows from operating leases $30  $40 Right-of-use assets obtained in exchange for new operating lease liability $111  $-          Weighted-average remaining lease term — operating leases (years)  2.58   0.67 Weighted-average discount rate — operating leases  7.50%  3.00% Future minimum lease payments under the operating lease liability have non-cancellable lease payments at December 31, 2024, as follows:   Total Year Ended December 31,   2025 $42 2026  43 2027  30 2028  - Thereafter  -    115 Less: Imputed interest  (11 )Operating lease liabilities  104      Operating lease liability - current  35 Operating lease liability - non-current $69 

 F-15Table of Contents

NOTE 9 – COMMITMENTS AND CONTINGENCIES The Company has certain financial commitments relating to research and development contracts as of December 31, 2024, as follows:  ·The Company is invoiced monthly and quarterly in connection with several research and development contracts. ·The Company may be obligated to make additional payments related to research and development contracts entered into