Aura Systems, Inc Enters into A Lease Agreement with RMJF, LLC
March 29, 2021 at 01:28 pm
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Aura Systems, Inc. entered into a Lease Agreement with RMJF, LLC. Pursuant to the Lease Agreement, the Company has leased new office space (the "Premises") in the Town of Lake Forest, California. The Company moved into the Premises on March 1, 2021. The Premises will house the Company's corporate headquarters, as well as the Company's manufacturing and distribution operations. The initial term of the lease is for 5 years and 6 months from March 1, 2021 (the "Commencement Date"). The foregoing description of the Lease Agreement does not purport to be complete and is subject to, and qualified in its entirety by reference to the Lease Agreement, a copy of which is filed herewith as Exhibit 10.1 and incorporated herein by reference. Capitalized terms used in this section without definition are defined in the Lease Agreement.
Aura Systems, Inc. (Aura) designs, assembles, tests, and sells its Axial Flux Induction Motor solution and mobile power known as the AuraGen for commercial and industrial applications and the VIPER for military applications. Its business model consists of components such as sales and marketing, design and engineering. Aura's sales and marketing approaches are composed of direct sales in North America and the use of agents and distributors in other areas. In North America, its primary focus is on mobile exportable power applications, electric vehicles applications, United States Military applications and industrial/commercial motor as well as mobile power applications. Its business model is focused on the design of new products and engineering support for sales activities. The engineering support consists of the introduction of new optimized power levels for electric motors and new features for its AuraGen/VIPER solution, such as torque solutions and different input and output voltages.
AURA SYSTEMS, INC. 
