13 unchanged sentences
of the Business Combination, to be issued 6.5 million shares of common stock.
−Removed: Based on consultation with its counsel, management believes
−Removed: that it is premature to provide any evaluation of the likely outcome of the claim.
−Removed: This case status and probability of outcomes will
−Removed: be assessed each quarter.
+Added: As of December 31, 2024, the potential contingency is considered
+Added: probable and reasonably estimable and as such, the Company accrued an estimated liability of $0.4 million in the accompanying financial
We intend to vigorously defend against these claims.
−Removed: Regardless of its outcome, the litigation may impact our
−Removed: business due to, among other things, defense legal cost and the diversion of the attention of our management.
+Added: Regardless of its outcome, the litigation may impact our business due
+Added: to, among other things, defense legal cost and the diversion of the attention of our management.
+Added: On December 18, 2024, Conduit UK Management Limited
+Added: (“Conduit”) received a notification from the UK Intellectual Property Office (“UK IPO”) notifying the company
+Added: that St George Street Capital had initiated patent entitlement proceedings with respect to patent application PCT/IB2022/00775 (“Patent
+Added: Application”).
+Added: Conduit refutes the claims made by St George Street Capital and filed a counterstatement on February 26, 2025 with
+Added: In addition, each of the three inventors named in the Patent Application filed simultaneous counterstatements fully supporting
+Added: Conduit’s position, and assertions that the claims are without merit.
+Added: Further updates will be made following notification by the
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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.