Legal Proceedings.
−Removed: The Company is, from time to time, subject to claims and litigation arising in the ordinary course of business.
−Removed: The Company intends to defend vigorously against any future claims and litigation.
−Removed: The Company has settled a litigation matter.
−Removed: As part of the settlement agreement, the Company will be required pay a total of $280,000 to settle this matter.
−Removed: in return for a release of all claims against the Company.
−Removed: This liability is included in accrued expenses and other current liabilities in the consolidated balance sheet as of September 30, 2023.
−Removed: 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.
−Removed: The Company is not currently a party to any other legal proceedings.
+Added: From time to time, we may become involved in litigation or other legal proceedings arising in the ordinary course of business.
+Added: We are not currently a party to any litigation or legal proceedings that, in the opinion of our management, are likely to have a material adverse effect on our business.
+Added: Regardless of outcome, litigation can have an adverse impact because of defense and settlement costs, diversion of management resources and other factors.
+Added: On March 5, 2024, Danielle Greene, a former employee, filed a complaint against us in the Superior Court of New Jersey, Law Division, Mercer County, alleging breach of the New Jersey Conscientious Employee Protection Act (“CEPA”).
+Added: The complaint specifically alleges that we violated the provisions of the CEPA by allegedly terminating Ms.
+Added: Greene in retaliation for complaining about certain business practices.
+Added: We dispute these allegations and intend to vigorously defend against them, but there can be no assurance as to the outcome of the litigation.
+Added: Risk Factors.
+Added: For a discussion of risks that affect the Company’s business, please refer to Part I, Item IA, “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, as filed with the SEC on March 14, 2024.
+Added: Unregistered Sales of Equity Securities and Use of Proceeds.
+Added: Defaults Upon Senior Securities.
+Added: Mine Safety Disclosures.
+Added: Not applicable.
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.