LEGAL PROCEEDINGS
−Removed: On June 7, 2022, the Company filed a lawsuit (the “Lawsuit”) in Utah naming as defendants the vendors from which the Company ordered equipment for its facility in Utah (collectively the “Defendants”).
+Added: On June 7, 2022, the Company filed a lawsuit (the “Lawsuit”) in Utah naming as defendants the vendors from which the Company ordered equipment for its facility in Utah (collectively the “Defendants”).
The Lawsuit relates to certain equipment ordered from Defendants and paid for by the Company, which Defendants never delivered.
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compensatory damages in the amount $490,000, representing the money the Company paid for the machines it never received, lost profits in the form of mask sales it could have made if Defendants had delivered the machines on the promised date, and other monetary and equitable relief.
−Removed: As of September 30, 2023, the Company has written off the $490,000 balance of the deposit paid for the equipment, pending any recovery in the Lawsuit.
+Added: In 2022, the Company wrote off the $490,000 balance of the deposit paid for the equipment, pending any recovery in the Lawsuit.
As of the date hereof, no counterclaims have been asserted against the Company.
−Removed: The Company believes there would not be any meritorious claims against the Company related to the Lawsuit.
−Removed: The Lawsuit remains unresolved and the final outcome, including the potential amount of any recovery for the Company’s claims, is uncertain.
−Removed: Any potential recovery represents a gain contingency in accordance with ASC 450, Contingencies, that has not been recorded as the matter was not resolved as of September 30, 2023.
−Removed: Any recovery will be recorded when received. 
+Added: The Company believes there would not be any meritorious claims against the Company in the Lawsuit.
+Added: The final outcome of the Lawsuit, including the potential amount of any recovery for the Company’s claims, is uncertain.
+Added: Any potential recovery represents a gain contingency in accordance with ASC 450, Contingencies, that has not been recorded as the matter was not resolved as of March 31, 2024.
+Added: Any recovery will be recorded when received.
The Company is subject to various pending and threatened litigation actions in the ordinary course of business.
−Removed: Although it is not possible to determine with certainty at this point in time what liability, if any, the Company will have as a result of such litigation, based on consultation with legal counsel, management does not anticipate that the ultimate liability, if any, resulting from such litigation will have a material effect on the Company’s financial condition and results of operations.
−Removed: A list of factors that could materially affect our business, financial condition or operating results is described in Part I, Item 1A, “Risk Factors”
−Removed: in the 2022 Form 10-K.
−Removed: There have been no material changes to our risk factors from those disclosed in Part I, Item 1A, “Risk Factors”
−Removed: in the 2022 Form 10-K.
+Added: Although it is not possible to determine with certainty at this point in time what liability, if any, the Company will have as a result of such litigation, based on consultation with legal counsel, management does not anticipate that the ultimate liability, if any, resulting from such litigation will have a material effect on the Company’s financial condition and results of operations.
+Added: A list of factors that could materially affect our business, financial condition or operating results is described in Part I, Item 1A, “Risk Factors” in the 2023 Form 10-K.
+Added: There have been no material changes to our risk factors from those disclosed in Part I, Item 1A, “Risk Factors” in the 2023 Form 10-K.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.