Item 2. Properties
Item 2. Properties.
We maintain our corporate
offices at 110 East Broward Blvd, Fort Lauderdale, Florida. We lease these premises under a monthly rental agreement at a nominal cost.
We also obtained a 20,000 sqm Freehold plot of land located at Marviken Kraftverk, 610 27 Vikbolandet, Sweden. However, as stated above,
we are in the process of rescinding our transaction with SAPL.
Additionally, DC Estate
Solutions, of which the Company owns 50.1%, has acquired 8 property leases, which were previously assigned to and held by BAIF, consisting
of approximately 100 hectares of land located in the Spain cities of Malpica, Caceres, Vianos, Cordoba, Torrecampo, Villasequilla and
Tomelloso and the Panamanian city of Tocumen. As disclosed, all leases are held by wholly owned subsidiaries of DC Estate Solutions. The
Spain Leases and the lease in Tocumen, Panama are for an average term of 35 years at an initial total average cost of $96,000 per month
for all sites. As a condition of each lease, the payments are subject to meeting certain milestones, such as obtaining a favorable urban
compatibility reports and connection points. Under the terms of the Spain Leases, the Company will pay approximately $15,000 to the owners
of the Cordoba site in 2026. No further payments are expected in 2026.
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