Item 1. Legal Proceedings
ITEM
1. LEGAL PROCEEDINGS
We
may from time to time be involved in various claims and legal proceedings of a nature we believe are normal and incidental to our business.
These matters may include product liability, intellectual property, employment, personal injury cause by our employees, and other general
claims. Aside from the following, we are not presently a party to any legal proceedings that, in the opinion of our management, are likely
to have a material adverse effect on our business. Regardless of outcome, litigation can have an adverse impact on us because of defense
and settlement costs, diversion of management resources and other factors.
Discontinuance
of Pending Legal Proceeding
On
May 9, 2025, the parties filed a stipulation of discontinuance with prejudice in the matter of Randall S. Sprung v. Bannor Michael
MacGregor, Jeffery Katz, and Life Design Station International, Inc. (Supreme Court of New York, County of Kings, Index No.: 504677/2019),
resulting in the permanent dismissal of the action and the bar against any future claims.
ITEM
1A. RISK FACTORS
There
have been no material changes to the risk factors described in our Annual Report on Form 10-K for the year ended December 31, 2024.
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.