Item 1. Legal Proceedings
ITEM
1. LEGAL PROCEEDINGS
As discussed in Note 12 to the unaudited condensed consolidated financial
statements, in April 2026 Srirama Associates, LLC filed a lawsuit in the Superior Court of the State of Delaware alleging breach of contract
related to an amended promissory note fee. The complaint seeks approximately $1,000,000 in damages, plus interest and costs. The Company
disputes the claim and filed a motion to dismiss on May 11, 2026. No liability has been recorded as of March 31, 2026.
ITEM
1A. RISK FACTORS
There have been no material changes to the risk factors disclosed under
“Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2025, filed with the SEC on March 30, 2026
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