−Removed: We know of no material, existing or pending legal proceedings
−Removed: against us, nor are we involved as a plaintiff in any material proceeding or
−Removed: pending litigation.
−Removed: There are no proceedings in which any of our directors,
−Removed: officers or affiliates, or any registered or beneficial shareholder, is an
−Removed: adverse party or has a material interest adverse to our Company.
−Removed: The license application for the WOM joint venture was submitted
−Removed: in October 2013.
−Removed: To date the WOM joint venture has been financed by our Company
−Removed: in the amount of $375,000.
−Removed: The $375,000 budget is intended to fund the joint
−Removed: venture through completion of facility upgrades and completion of the licensing
−Removed: On September 18, 2014 we announced that we have provided notice to WOM
−Removed: alleging default under the terms of the joint venture agreement for, among other
−Removed: things, their failure to provide financial information in regards to the
−Removed: funding, expenses and operation of the joint venture.
−Removed: WOM has provided notice in
−Removed: response disputing their default, and we are currently in correspondence with
−Removed: WOMs attorney.
−Removed: Subsequent to year end, On October 16, 2014 we entered into a
−Removed: termination and settlement agreement, dated effective October 14, 2014, with WOM
−Removed: and Mathew Chadwick (the Settlement Agreement), pursuant to which the parties
−Removed: have entered into mutual releases, Mr.
−Removed: Chadwick has resigned from our board of
−Removed: directors and as an officer of the Company, and WOM has returned back to the
−Removed: treasury of the Company 15,127,287 common shares that had been issued to it.
−Removed: Given the foregoing, all relationships between the parties, including but not
−Removed: limited to the WOM Agreement in regards to the Joint Venture business, have been
−Removed: and Reserved).
+Added: Legal Proceedings
+Added: We know of no material, existing or pending legal proceedings against us, nor are we involved as a plaintiff in any material proceeding or pending litigation.
+Added: There are no proceedings in which any of our directors, officers or affiliates, or any registered or beneficial shareholder, is an adverse party or has a material interest adverse to our Company.
+Added: (Removed and Reserved).
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.