1 unchanged sentence
From time to time, we may become involved in legal proceedings or be subject to claims arising in the ordinary course of our business.
−Removed: We are not currently a party to any legal proceedings that, in the opinion of our management, are expected to have a material adverse effect on our business, financial condition, operating results or cash flows.
−Removed: We are, however, a party to the following actions:
+Added: In addition, we are currently a party to the following actions:
On July 11, 2023, Ladenburg Thalmann & Co.
−Removed: ("Ladenburg) filed an action against the Company for breach of contract in the United States District Court for the Southern District of Florida, Case No.
+Added: (“Ladenburg”) filed an action against the Company for breach of contract in the United States District Court for the Southern District of Florida (the “District Court”), Case No.
9:23-cv-81019-AMC.
Ladenburg alleges that it entered into an Investment Banking Agreement (the “Agreement”) with the Company on September 1, 2020.
−Removed: According to Ladenburg, the Agreement provided that Ladenburg would be the exclusive investment advisor and banker for the Company.
−Removed: Ladenburg alleges that the Agreement entitles them to a fee for any financing transactions (debt financing or merger and acquisition transactions) that the Company engaged in during the term of the contract.
+Added: According to Ladenburg, that Agreement provided that Ladenburg would be the exclusive investment advisor and banker for the Company.
+Added: Ladenburg alleges that the Agreement entitles them to a fee for any financing transactions (debt financing or merger and acquisition transactions) that the Company engages in during the term of the contract.
In April 2023, the Company informed Ladenburg of the impending Big Village Acquisition.
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The Company disputes the allegations and disputes that Ladenburg is entitled to receive any fee since it did not perform any work pertaining to such acquisition.
−Removed: The outcome of this matter is not determinable as of the date of issuance of this report.
+Added: On November 27, 2024, the District Court entered a judgment in favor of Ladenburg and against the Company granting damages of $1.7 million to Ladenburg.
+Added: On December 26, 2024, the Company filed a motion with the District Court requesting that the District Court reconsider its judgment.
+Added: This motion was denied on January 30, 2025.
+Added: The Company plans to appeal the judgment.
+Added: The outcome of this matter is not determinable as of the date of issuance of these consolidated financial statements.
Other Litigation
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The Company is party to various other legal proceedings that arise in the ordinary course of business, separate from normal course accounts receivable collections matters.
−Removed: Due to the inherent difficulty of predicting the outcome of litigation and other legal proceedings, the Company cannot predict the eventual outcome of these matters, and it is reasonably possible that some of them could be resolved unfavorably to the Company.
+Added: Due to the inherent difficulty of predicting the outcome of these other legal proceedings, the Company cannot predict the eventual outcome of these matters, and it is reasonably possible that some of them could be resolved unfavorably to the Company.
As a result, it is possible that the Company’s results of operations or cash flows in a particular fiscal period could be materially affected by an unfavorable resolution of pending litigation or contingencies.
−Removed: The outcome is not determinable as of the issuance of this report.
+Added: The outcome is not determinable as of the issuance of these financial statements.
MINE SAFETY DISCLOSURES
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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.