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