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 also rent office space in Melville,
New York under a short-term rental agreement. 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.
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.
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