BOS Purchases Warehouses and Office Space for Self-use
May 09 2022 - 9:00AM
BOS Better Online Solutions Ltd. ("BOS" or the "Company") (NASDAQ:
BOSC) announced today that it has purchased 546 sqm of offices, 495
sqm of warehouses and nine parking spots in Rishon Le Zion, Israel.
The purchased real-estate is part of the facilities BOS has been
leasing in Rishon Lezion. BOS shall pay for this acquisition NIS
6.5 million (approximately $1.9 million).
Eyal Cohen, BOS’ CEO, stated: “BOS leases 2,131 sqm in Rishon
Lezion and 710 sqm in Rosh Hain, both in Israel. Our monthly lease
expense for the facilities we acquired amounts to $10,000. This
lease expense, and our expectation that it shall increase
significantly upon lease renewal, led us to pursue the
acquisition.
"We plan to finance the purchase by a long-term bank loan in the
amount NIS 4.5 million (approximately $1.3 million) in addition to
cash we have at hand.”
About BOS
BOS provides services and systems for inventory production and
management in three channels:
- Services – The Supply Chain
division provides inventory procurement and kitting.
- Integration – the RFID division
provides off-the-shelf software and equipment to track and manage
inventory in the production floor and warehouse.
- Development – the Intelligent
Robotics division develops and builds custom-made robotic cells for
the industrial and logistic processes.
Contact: Eyal Cohen, CEO+972-542525925
| eyalc@boscom.com
Safe Harbor Regarding Forward-Looking
Statements
The forward-looking statements contained herein reflect
management's current views with respect to future events and
financial performance. These forward-looking statements are subject
to certain risks and uncertainties that could cause the actual
results to differ materially from those in the forward-looking
statements, all of which are difficult to predict and many of which
are beyond the control of BOS. These risk factors and uncertainties
include, amongst others, the dependency of sales being generated
from one or few major customers, the uncertainty of BOS being able
to maintain current gross profit margins, inability to keep up or
ahead of technology and to succeed in a highly competitive
industry, failure to successfully integrate and achieve the
potential benefits of the acquisition of the business operations of
Imdecol Ltd. (the Robotics business line) and Dagesh Inventory
Counting and Maintenance Ltd., inability to maintain marketing and
distribution arrangements and to expand our overseas markets,
uncertainty with respect to the prospects of legal claims against
BOS, the effect of exchange rate fluctuations, general worldwide
economic conditions, military and political upheavals, the impact
of the COVID-19 virus and continued availability of financing for
working capital purposes and to refinance outstanding indebtedness.
Additional risks and uncertainties are detailed in BOS' periodic
reports and registration statements filed with the US Securities
and Exchange Commission. BOS undertakes no obligation to publicly
update or revise any such forward-looking statements to reflect any
change in its expectations or in events, conditions or
circumstances on which any such statements may be based, or that
may affect the likelihood that actual results will differ from
those set forth in the forward-looking statements.
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