CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS:
This section, Management’s Discussion and Analysis of Financial Condition and Results of Operations, other sections of the Annual Report on Form 10-K and this Annual Report to Shareholders and other reports and verbal statements made by our representatives from time to time may contain forward-looking statements that are based on our assumptions, expectations and projections about us and the real estate industry. These include statements regarding our expectations about revenues, our liquidity, or expenses and our continued growth, among others. Such forward-looking statements by their nature involve a degree of risk and uncertainty. We caution that a variety of factors, including but not limited to the factors described under Item 1A, “Risk Factors” in our Form 10-K for the fiscal year ended July 31, 2024 and the following, could cause business conditions and our results to differ materially from what is contained in forward-looking statements:
| • | changes in the rate of economic growth, and interest rates both nationally and locally; |
| • | the ability to obtain additional financing at reasonable costs and interest rates; |
| • | changes in the financial condition of our customers; |
| • | changes in the regulatory environment and particularly burdens of increasing local, state, and federal requirements and taxes; |
| • | lease cancellations and particularly loss of key tenants; |
| • | changes in our estimates of costs; |
| • | war and/or terrorist attacks could significantly impact buildings leased to tenants; |
| • | the continued availability of insurance for various policies at reasonable rates; |
| • | outcomes of pending and future litigation; |
| • | increasing competition by other companies; |
| • | compliance with our loan covenants; |
| • | recoverability of claims against our customers and others by us and claims by third parties against us; |
| • | changes in estimates used in our critical accounting policies; |
| • | cybersecurity theats or incidents; and |
| • | pandemics and the related trends of office versus remote work practices. |
Other factors and assumptions not identified above were also involved in the formation of these forward-looking statements and the failure of such other assumptions to be realized, as well as other factors, may also cause actual results to differ materially from those projected. Most of these factors are difficult to predict accurately and are generally beyond our control. You should consider the areas of risk described above in connection with any forward-looking statements that may be made by us.
We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. You are advised, however, to consult any additional disclosures we make in proxy statements, Quarterly Reports on Form 10-Q, Annual Reports on Form 10-K and Current Reports on Form 8-K filed with the U. S. Securities and Exchange Commission.
