Item 3. Legal Proceedings
ITEM 3. LEGAL PROCEEDINGS
From time to time, we may be involved in various claims and legal actions in the ordinary course of business. Other than as set forth below, we are not currently involved in any material legal proceedings outside the ordinary course of our business.
In July 2021, 2353 SB, LLC (“Plaintiff”) filed an action in the District Court, County of Denver, Colorado, for breach of contract relating to a written lease between the Company and Plaintiff, the term of which is November 1, 2020, to October 31, 2023 (“Lease”). Plaintiff’s action relates to the Company’s alleged failure to remit continuing lease payments under the Lease and sets forth in the complaint that the Company owes approximately $123,000 for unpaid rent and utilities, plus late fees and accrued interest in respect thereof. In August 2021, the Company filed a Motion to Dismiss or, in the Alternative, Motion for Summary Judgment, asserting that as a result of the continuing COVID-19 pandemic, it was practically impossible for the Company to perform under the Lease in accordance with the force majeure clause contained therein; and therefore the Company properly exercised its rights to rent abatement. In October 2021, Plaintiff filed a Cross-Motion for Summary Judgment. All motions are fully briefed, and the court has yet to rule on the motions.
ITEM 4. MINE SAFETY DISCLOSURES
Not applicable.
PART II
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