Item 3. Legal Proceedings
ITEM
3. LEGAL PROCEEDINGS
From
time to time, we may become involved in various lawsuits and legal proceedings which arise in the ordinary course of business. Litigation
is subject to inherent uncertainties, and an adverse result in these or other matters may arise from time to time that may harm our business.
On
September 24, 2024, a prospective lender filed a claim against the Company for an alleged breach of a non-binding term sheet made on
June 7, 2024. This claim is an example of predatory lending practices for which the Company has filed a notice of dismissal in the
relevant jurisdiction. The Company and its counsel believe the claim is without merit however the courts have mandated mediation,
and it appears that the parties may reach a settlement in the near future. The Company has made no
accruals.
ITEM
4. MINE SAFETY DISCLOSURES
Not
applicable.
PART
II
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.