LEGAL PROCEEDINGS
−Removed: of the date hereof, we know of no material pending legal proceedings against to which we or any of our subsidiaries is a party
−Removed: or of which any of our property is the subject.
−Removed: There are no proceedings in which any of our directors, executive officers or
−Removed: affiliates, or any registered or beneficial shareholder, is an adverse party or has a material interest adverse to our interest.
−Removed: From time to time, we may be subject to various claims, legal actions and regulatory proceedings arising in the ordinary course
+Added: August 24, 2021, Plaintiff Millennium Fine Art Inc.
+Added: (“MFAI”) filed a Complaint against the Company, alleging that on or about
+Added: April 21, 2021, MFAI and the Company entered into a contract (the “Contract”), by which MFAI agreed to create 7,700 non-fungible
+Added: tokens (“NFT”) in exchange for sixteen million dollars ($16,000,000) worth of shares of the Company.
+Added: MFAI claims that the
+Added: Company breached the Contract by refusing delivery of the NFTs and not delivering $16 million worth of shares to MFAI.
+Added: The Complaint
+Added: asserts causes of action for breach of contract, special damages and promissory estoppel, and seeks sixty-six million dollars ($66,000,000)
+Added: in damages, specific performance by Company according to the terms of the Contract, and MFAI’s attorney’s fees and costs.
+Added: October 18, 2021, the Company filed a motion, denying all the material allegations of the Complaint, and seeking to stay the case and
+Added: compel arbitration pursuant to the purported Contract.
+Added: In its motion, the Company only sought to enforce the terms of the Contract as
+Added: it relates to arbitration, but otherwise denied the existence of a valid and binding contract.
+Added: Over MFAI’s opposition, the Court
+Added: granted the Company’s motion, and stayed the case, pending the resolution of the Parties’ arbitration of the dispute.
+Added: date, MFAI has not filed an arbitration, and the matter remains stayed.
+Added: The Company intends to continue to defend the matter vigorously,
+Added: to the extent MFAI ultimately decides to file an arbitration.
MINE SAFETY DISCLOSURES
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.