Item 1. Legal Proceedings
Item 1. Legal Proceedings.
We are involved in various legal claims and proceedings in the normal course of operations. We believe the outcome of these matters will not have a material adverse effect on our consolidated financial position, results of operations or liquidity, except as described in Part I, Item 3. “Legal Proceedings” of our Annual Report. Since the filing of our Annual Report, there have been no material changes in our legal proceedings from those disclosed therein, other than as noted below.
On May 21, 2026 and June 18, 2026, the Korean IP High Court issued decisions in our appeals of the Korean Intellectual Property Trial and Appeal Board invalidity rulings against the process and composition patents we asserted in Korea against Beerenberg Services AS, Beerenberg Korea Ltd., and Bronx (China) Co., Ltd. The Court found our asserted process patent claims valid and our asserted composition patent claims invalid. We disagree with the Court’s finding regarding our composition patents, which is subject to appeal to the Korean Supreme Court.
Item 1A. Ri sk Factors.
The ownership of our securities involves a number of risks and uncertainties. When evaluating the Company and our business before making an investment decision regarding our securities, potential investors should carefully consider the risk factors and uncertainties described in Part I, Item 1A. “Risk Factors” of our Annual Report. Since the filing of our Annual Report, there have been no material changes in our risk factors, other than as disclosed in our Quarterly Report on Form 10-Q for the quarter ended March 31, 2026. We may disclose changes to risk factors or additional risk factors from time to time in our future filings with the SEC.
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