LEGAL PROCEEDINGS
+Added: From time to time, we may be involved in various claims and legal actions in the ordinary course of business.
+Added: 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, we were served with a Complaint in the District Court, County of Denver, Colorado, by plaintiff 2353 SB, LLC (“Plaintiff”).
1 unchanged sentence
Monthly lease payments were to be $12,866.66.
−Removed: In 2020, we made initial payments (first month’s rent and security deposit) of $39,633.32;
+Added: In 2020, we made initial payments (first month’s rent, last month’s rent, and security deposit) of $39,633.32;
but subsequently did not take possession of the premises and have made no further payments in respect thereof, as a direct result of the COVID-19 pandemic.
3 unchanged sentences
We filed a motion to dismiss;
−Removed: both parties also filed motions for summary judgment.
−Removed: In October 2022, the court denied our motion to dismiss on the basis that Plaintiff sufficiently pled facts that raise a plausible claim for relief, notwithstanding our possible defenses.
−Removed: The court did not rule on either motion for summary judgment.
+Added: or a motion for summary judgment in the alternative.
+Added: Plaintiff filed a response and cross-motion for summary judgement thereafter.
+Added: In October 2022, the court denied the motion to dismiss on the basis that Plaintiff sufficiently pled facts that raise a plausible claim for relief, notwithstanding our possible defenses, but has not specifically made any rulings on either party’s motion for summary judgment.
On November 14, 2022, we timely filed a formal answer to the complaint, denying each of Plaintiff’s substantive claims.
−Removed: We also asserted appropriate affirmative defenses, including the force majeure clause of the lease, which provides that we are not liable under the lease in the event of a variety of events outside our control, including “pandemics.” In addition, we have asserted a counterclaim against the Plaintiff for breach of contract to recover the initial payments made under the lease as well as attorneys’ fees and costs.
+Added: We also asserted appropriate affirmative defenses, including the force majeure clause of the lease, which provides that we are not liable under the lease in the event of a variety of events outside our control, including “pandemics.” In addition, we have asserted a counterclaim against Plaintiff for breach of contract to recover the initial payments made under the lease as well as attorneys’ fees and costs.
+Added: The trial is currently scheduled for September 2023.
As of the date of this report, there have been no material changes to the Risk Factors disclosed in our Annual Report on Form 10-K for the year ended December 31, 2022.
4 unchanged sentences
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.