1 unchanged sentence
The Company is, from time to time, involved in legal proceedings, claims and litigation arising in the ordinary course of business.
−Removed: While the amounts claimed may be substantial, the ultimate liability cannot presently be determined because of considerable uncertainties that exist.
−Removed: Therefore, it is possible the outcome of such legal proceedings, claims and litigation could have a material effect on quarterly or annual operating results or cash flows when resolved in a future period.
−Removed: We are not currently a party to any legal proceedings, not covered by insurance, that individually or in the aggregate, are deemed to be material to our financial condition or results of operations (see Note 9 to the consolidated financial statements).
−Removed: On July 2, 2020, the Company received a notice of investigation and subpoena to produce information and documents from the Division of Enforcement of the SEC.
−Removed: The subpoena requested information and documents related to events and circumstances leading up to the March 17, 2020 announcement that the Company had commenced shipping samples of the Company’s COVID-19 IgG/IgM Rapid Test to countries outside of the United States, and had initiated the application process with the United States Food and Drug Administration under the COVID-19 Emergency Use Authorization for approval to market and sell the test in the United States.
−Removed: The subpoena also requested information and documents about the identity of any persons who were aware of the substance of the March 17, 2020 announcement prior to that date.
−Removed: In addition, on December 15, 2020, the SEC sent a second subpoena related to this investigation to Zack Irani, the Company’s CEO, requesting documents held by Mr.
−Removed: Irani concerning his past purchases of Company stock, any past communications with certain persons and entities, and other personal and Company documents.
−Removed: The Company and Mr.
−Removed: Irani have cooperated fully with the SEC’s investigation and provided information as requested.
−Removed: At this time, the Company is unable to predict the duration, scope or outcome of these investigations.
−Removed: We can provide no assurances as to the outcome of the SEC investigation.
+Added: While the amounts claimed may be substantial, the ultimate liability cannot be estimated because of considerable uncertainties that exist.
+Added: Therefore, it is possible the outcome of such legal proceedings, claims and litigation could have a material negative effect on quarterly or annual operating results or cash flows when resolved in a future period.
+Added: However, based on facts currently available, management believes such matters will not have a material adverse effect on the Company's consolidated financial position, results of operations or cash flows.
+Added: There were no legal proceedings pending as of May 31, 2022.
MINE SAFETY DISCLOSURES
1 unchanged sentence
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.