MILESTONE SCIENTIFIC INC. 10-K

Item 1B. Unresolved Staff Comments None. 24 Item 1C. Cybersecurity Governance Related to Cybersecurity Risks Our Board of Directors has oversight responsibility for risk management, including cybersecurity risk. The Board exercises this oversight through the Audit Committee, which oversees management’s risk exposure across various areas, including cybersecurity, in accordance with its charter. Management provides quarterly reports to the Audit Committee regarding the status of our cybersecurity program. The Chair of the Audit Committee reports to the full Board on cybersecurity matters every quarter, as applicable . Management is responsible for the day-to-day administration of our cybersecurity program under the supervision of our Chief Executive Officer . We also engage external security service providers to support monitoring and threat detection and have processes designed to report relevant findings to the Chair of the Audit Committee, as appropriate. Cybersecurity Risk Management and Strategy We maintain a cybersecurity program that includes processes to identify, assess, and manage cybersecurity risks. We conduct periodic risk assessments, including with the support of external vendors, to evaluate our cybersecurity program, identify areas for enhancement, and develop mitigation strategies. We also conduct periodic security awareness training for employees. We monitor cybersecurity risks through a combination of internal efforts and third-party tools and services, including a managed security service provider and other security software designed to detect and respond to threats. We have implemented processes and technologies for network monitoring and data loss prevention, and periodically review these controls. We have not identified any cybersecurity incidents that have materially affected, or are reasonably likely to affect materially, our business strategy, results of operations, or financial condition. However, like other companies, our third-party vendors and we may experience cybersecurity threats or incidents from time to time. For additional discussion of related risks, see “Item 1A. Risk Factors.” Item 2. Description of Property Our headquarters are located at 425 Eagle Rock Avenue, Roseland, New Jersey 07068, and our telephone number is (973) 535-2717. In August 2019, we entered into a seven-year lease for our facility in Roseland, New Jersey (the “Roseland Facility”). Monthly lease payments are $9,275, commencing April 1, 2021. We are also responsible for electricity charges of $2.00 per square foot (approximately $11,130 annually), payable in equal monthly installments of $928, and our proportionate share of certain operating costs and property taxes in excess of base-year amounts. We do not own, and do not currently intend to acquire, any real property. Item 3. Legal Proceedings We are not involved in any legal proceedings. Item 4. Mine Safety Disclosures Not applicable. 25 PART II