What changed in this filing

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Item 1. Legal Proceedings

2023-11-20 compared with 2023-08-21 · 47 added, 33 removed, 59 unchanged (58% of the section changed)

10 unchanged sentences

agent agreement.

Allegedly, the exclusive placement agent agreement required the Company to pay FT Global for capital received

during the term of the agreement and for the 12-month period following the termination of the agreement involving any investors that

FT Global introduced and/or wall-crossed to the Company.

However, the Company believes the securities purchase transactions at

issue did not involve the one investor which FT Global introduced or wall-crossed to the Company during the term of the agreement.

Global claims approximately $7,000,000 in damages and attorneys’ fees.

Allegedly, the exclusive placement agent agreement required the Company to pay FT Global for capital received during

the term of the agreement and for the 12-month period following the termination of the agreement involving any investors that FT Global

introduced and/or wall-crossed to the Company.

However, the Company believes the securities purchase transactions at issue did not

involve the one investor which FT Global introduced or wall-crossed to the Company during the term of the agreement.

FT Global claims

approximately $7,000,000 in damages and attorneys’ fees.

The Company timely removed the case to the United

12 unchanged sentences

Global served the Company with its Initial Disclosures.

On May 17, 2021, FT Global served the Company with its First Amended Initial

On November 10, 2021, the Court entered an Order granting the Company’s motion to dismiss FT Global’s fraud

claim and breach of contract claim as to the disclosure of its confidential and proprietary information.

The Court denied the Company’s

motion to dismiss FT Global’s i) breach of contract claim for failure to pay FT Global pursuant to the terms of the exclusive placement

agent agreement;

On May 17, 2021, FT Global served the Company with its First Amended Initial Disclosures.

On November 10, 2021, the Court entered an Order granting the Company’s motion to dismiss FT Global’s fraud claim and breach

of contract claim as to the disclosure of its confidential and proprietary information.

The Court denied the Company’s motion to

dismiss FT Global’s i) breach of contract claim for failure to pay FT Global pursuant to the terms of the exclusive placement agent

ii) claim for breach of the covenant of good faith and fair dealing;

and iii) claim for attorney’s fees, and the

court concluded that additional information can be obtained through discovery.

The Company timely filed an answer and defenses to FT

Global’s complaint on November 24, 2021.

On January 3, 2022 the Company propounded discovery requests upon FT Global, including

interrogatories and requests for production of documents.

and iii) claim for attorney’s fees, and the court

concluded that additional information can be obtained through discovery.

The Company timely filed an answer and defenses to FT Global’s

complaint on November 24, 2021.

On January 3, 2022 the Company propounded discovery requests upon FT Global, including interrogatories

and requests for production of documents.

On March 23, 2022, the Company propounded requests for admission upon FT Global.

On March 24, 2022, FT Global propounded discovery requests upon the Company, including requests for production of documents and requests

for admission.

2022, FT Global propounded discovery requests upon the Company, including requests for production of documents and requests for admission.

On April 1, 2022, FT Global served its response to the Company’s requests for production of documents.

2022, FT Global served its responses to the Company’s interrogatories and requests for admissions.

On May 13, 2022, FT Global

produced documents in response to the Company’s requests for production of documents.

On June 3, 2022, the Company produced documents

in response to FT Global’s requests for production of documents.

served its responses to the Company’s interrogatories and requests for admissions.

On May 13, 2022, FT Global produced documents

in response to the Company’s requests for production of documents.

On June 3, 2022, the Company produced documents in response to

FT Global’s requests for production of documents.

On August 3, 2022, the Company took the deposition of FT Global.

On August 4, 2022, FT Global took the deposition of the Company.

On August 3, 2022, the Court granted the parties’ Consent Motion

to Extend Discovery Period extending the discovery period from August 5, 2022 to September 14, 2022 and the deadline to file dispositive

motions to October 12, 2022.

On October 12, 2022, the Company filed a motion for summary judgment on all claims asserted by FT Global

in this lawsuit.

On November 2, 2022, FT Global filed its opposition to the Company’s motion for summary judgment.

16, 2022, the Company filed its reply in support of its motion for summary judgement on all claims asserted by FT Global in this lawsuit.

2022, FT Global took the deposition of the Company.

On August 3, 2022, the Court granted the parties’ Consent Motion to Extend Discovery

Period extending the discovery period from August 5, 2022 to September 14, 2022 and the deadline to file dispositive motions to October

On October 12, 2022, the Company filed a motion for summary judgment on all claims asserted by FT Global in this lawsuit.

November 2, 2022, FT Global filed its opposition to the Company’s motion for summary judgment.

On November 16, 2022, the Company

filed its reply in support of its motion for summary judgment on all claims asserted by FT Global in this lawsuit.

On August 31, 2023,

the Court entered an Order denying the Company’s motion for summary judgment.

On September 20, 2023, the parties filed a joint motion

to extend the deadline to file the consolidated pretrial order pending mediation of the case by the parties.

On September 21, 2023, the

Court granted the parties’ joint motion to extend the deadline to file the consolidated pretrial order to October 27, 2023.

16, 2023, the parties mediated the case.

On October 24, 2023, the parties filed another joint motion to extend the deadline to file the

consolidated pretrial order.

On October 27, 2023, the Court granted the parties’ joint motion to extend the deadline to file the

consolidated pretrial order to November 17, 2023 and set the case for trial on January 8, 2024.

Subsequently, the Court approved an extension

of the deadline to file a pretrial order to December 1, 2023.

The Company will continue to vigorously defend the action against FT Global.

26 unchanged sentences

all policies, procedures and practices recommended in the report of the Consultant within 120 days of receiving the report from the Consultant.

The first installment of $150,000 has been paid by the Company on July 7, 2023.

The first and second installments of $150,000 each have been paid by the Company on July 7, 2023 and September 25, 2023, respectively.

The Company also has engaged an independent consultant to test, assess, and review the Company’s

internal accounting controls and internal control over financial reporting on July 26, 2023 .

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.

What changed 10-Q

Item 1. Legal Proceedings