Item 1. Legal Proceedings
Item
1. Legal Proceedings
The
Company is involved in arbitration proceedings arising out of certain consulting agreements. During 2025, demands for arbitration were
submitted to JAMS in Jonathan Sanger v. American Picture House Corporation (JAMS Case No. 5220010741) and Michael Jones v.
American Picture House Corporation (JAMS Case No. 5220010727), with JAMS advising that the Jones matter had been consolidated with
the Sanger-caption matter under Case No. 5220010741. The Company disputes the claims asserted and reserves all rights, objections and
defenses, including with respect to commencement, service and arbitrability. During and after the quarter ended March 31, 2026, JAMS
communicated regarding payment of the initial retainer and advised that, absent timely payment of respondent’s share, the matter
would be placed on administrative stay. The Company responded while continuing to reserve all rights, objections and defenses. Other
than the foregoing administrative communications, there were no material developments during the quarter ended March 31, 2026 with respect
to the proceedings described in the Company’s Annual Report on Form 10-K.
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