Item 3. Legal Proceedings
Item 3. Legal Proceedings.
On March 23, 2025, a complaint
was filed against our wholly owned Israeli subsidiary, Duke Israel, by LOOL T.V. Ltd. (the “Plaintiff”), an Israeli company,
in the Tel Aviv-Yafo Magistrate’s Court (Case No. 60460-03-25). The complaint asserts that pursuant to an agreement of principles
between Duke Israel and the Plaintiff, Duke Israel is in breach of the agreement, specifically with respect to an allegation that the
parties were required to set up a partnership with respect to certain services provided to the IEC. The complaint asserts a claim for
breach of contract, unlawful use of intellectual property that is not exclusively owned by Duke Israel and unjust enrichment with regards
to the agreement of principles. In addition, the Plaintiff’s complaint seeks an order for a permanent injunction to prevent Duke
Israel from continuing providing these services to the IEC, and an order to enforce the agreement of principles ordering Duke Israel to
act as necessary to establish a partnership or joint venture.
We filed a statement of defense against the complaint. On February
26, 2026, the court issued a decision ordering the dismissal of the complaint without prejudice. The court’s decision also stipulated
that if the Plaintiff files a new complaint in this matter, then as a condition to filing such a complaint the Plaintiff will pay the
us additional expenses.
Item 4. Mine Safety Disclosures
Not applicable.
23
PART II
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.