Item 1. Legal Proceedings
Item 1. Legal Proceedings.
The Company is, from time to time, subject to claims and litigation arising in the ordinary course of business. The Company intends to defend vigorously against any future claims and litigation. The Company has settled a litigation matter. As part of the settlement agreement, the Company will be required pay a total of $280,000 to settle this matter. in return for a release of all claims against the Company. This liability is included in accrued expenses and other current liabilities in the consolidated balance sheet as of September 30, 2023. The expense related to this settlement is included in legal financial and other consulting expenses on the consolidated statements of operations and comprehensive loss for the three and nine months ended September 30, 3023.
The Company is not currently a party to any other legal proceedings.
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