Item 2. Properties
ITEM 2.
PROPERTIES
Currently, we do not own any real estate. Our principal
executive offices and manufacturing facility are located at Northlands Business Park at 170-171 Bush Telegraph Avenue, North riding, Johannesburg,
South Africa. We have entered into a lease for this 8,783 square foot facility. We believe that our properties are adequate for our current
needs, but growth potential may require larger facilities due to the anticipated addition of personnel.
•
The
lease term: Three years commencing August 1, 2023 until July 31, 2026.
•
Rent is approx.: $2,546 per month (Excluding Value
Added Taxes)
•
Rates taxes and Levies are billed in addition to the
Rent
•
DISA Medinotec pays its own utility bills to the local
service providers
We do not have any policies regarding investments in real estate, securities,
or other forms of property.
Please refer to related party footnotes in the financial statements and
as disclosed in the Section of this Annual Report, entitled, “Certain Relationships and Related Transactions, and Director Independence”
for the related party effects of the lease.
We are also currently renting office and storage space in Long Island,
New York with the following terms attached to the lease:
•
The
lease term: Twelve months commencing July 1, 2023 until June 30, 2024.
•
Rent is approx.: $1,601 per month
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