LEGAL PROCEEDINGS
−Removed: October 8, 2021, a filing (the “Filing”) was made with the Kuala Lumpur High Court by a reseller (the “Reseller”)
−Removed: of the Company’s INCU ionic nano copper solution (the “Solution”) and the Reseller’s related party (together
−Removed: with the Reseller, the “Plaintiffs”).
−Removed: Reseller was authorized by WKL Eco Earth’s sole distributor of the Solution (the “WKL Distributor”) to resell the Solution
−Removed: together with a diffuser with a capacity of not more than 1000ml through a tripartite agreement (the “Tripartite Agreement”)
−Removed: entered into between (a) the Reseller, (b) the WKL Distributor and (c) a solution packaging company (the “Packaging Company”).
−Removed: WKL Eco Earth was not a party to the Tripartite Agreement and did not directly authorize or engage the Reseller in the resale of the
−Removed: the Filing, the Plaintiffs claimed against (i) WKL Eco Earth;
−Removed: (iii) Chan Kok Wei, (iv) the Packaging Company and (v) two
−Removed: directors of the Packaging Company for loss and damages arising from an alleged breach of contract, defamation and tort of inducement.
−Removed: The Plaintiffs also alleged that pursuant to the Tripartite Agreement, WKL Eco Earth was prohibited from selling the Solution to any
−Removed: party other than the WKL Distributor and allow for the resale of the Solution by the Plaintiffs without limitation, and that the Plaintiffs
−Removed: were not confined in their resale of the Solution to a diffuser with a capacity of not more than 1000ml.
−Removed: On April 9, 2024, a notice of withdrawal was filed
−Removed: with the Kuala Lumpur High Court, whereby it was agreed upon both the Reseller and the Company that the Reseller withdraws their claims
−Removed: in the Filing without liberty to file afresh and with no order as to costs, and that the Company withdraws its counterclaim against the
−Removed: Reseller without liberty to file afresh and with no order as to costs.
+Added: We are not currently subject to any legal proceedings, and to the best
+Added: of our knowledge, no such proceeding is threatened, the results of which would have a material impact on the Company’s properties,
+Added: results of operations, or financial condition.
+Added: Nor, to the best of our knowledge, are any of the Company’s officers or directors
+Added: involved in any legal proceedings in which we are an adverse party.
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.