LEGAL PROCEEDINGS
−Removed: August 24, 2021, Plaintiff Millennium Fine Art Inc.
−Removed: (“MFAI”) filed a Complaint against the Company, alleging that on or about
−Removed: April 21, 2021, MFAI and the Company entered into a contract (the “Contract”), by which MFAI agreed to create 7,700 non-fungible
+Added: 24, 2021, Plaintiff Millennium Fine Art Inc.
+Added: (“MFAI”) filed a Complaint against the Company, alleging that on or about April
+Added: 21, 2021, MFAI and the Company entered into a contract (the “Contract”), by which MFAI agreed to create 7,700 non-fungible
tokens (“NFT”) in exchange for sixteen million dollars ($16,000,000) worth of shares of the Company.
1 unchanged sentence
Company breached the Contract by refusing delivery of the NFTs and not delivering $16 million worth of shares to MFAI.
−Removed: The Complaint
−Removed: asserts causes of action for breach of contract, special damages and promissory estoppel, and seeks sixty-six million dollars ($66,000,000)
−Removed: in damages, specific performance by Company according to the terms of the Contract, and MFAI’s attorney’s fees and costs.
−Removed: October 18, 2021, the Company filed a motion, denying all the material allegations of the Complaint, and seeking to stay the case and
−Removed: compel arbitration pursuant to the purported Contract.
−Removed: In its motion, the Company only sought to enforce the terms of the Contract as
−Removed: it relates to arbitration, but otherwise denied the existence of a valid and binding contract.
−Removed: Over MFAI’s opposition, the Court
−Removed: granted the Company’s motion, and stayed the case, pending the resolution of the Parties’ arbitration of the dispute.
−Removed: date, MFAI has not filed an arbitration, and the matter remains stayed.
−Removed: The Company intends to continue to defend the matter vigorously,
−Removed: to the extent MFAI ultimately decides to file an arbitration.
+Added: The Complaint asserts
+Added: causes of action for breach of contract, special damages and promissory estoppel, and seeks sixty-six million dollars ($66,000,000) in
+Added: damages, specific performance by Company according to the terms of the Contract, and MFAI’s attorney’s fees and costs.
+Added: 18, 2021, the Company filed a motion, denying all the material allegations of the Complaint, and seeking to stay the case and compel arbitration
+Added: pursuant to the purported Contract.
+Added: In its motion, the Company only sought to enforce the terms of the Contract as it relates to arbitration,
+Added: but otherwise denied the existence of a valid and binding contract.
+Added: Over MFAI’s opposition, the Court granted the Company’s
+Added: motion, and stayed the case, pending the resolution of the Parties’ arbitration of the dispute.
+Added: On or about April 1, 2022, MFAI commenced an arbitration through Judicial
+Added: Arbitration and Mediation Services, Inc.
+Added: (JAMS), in which it reasserted the allegations of the Complaint, and on May 2, 2022, the Company
+Added: submitted a Statement of Defense, again denying all material allegations.
+Added: On November 18, 2022, after conducting preliminary discovery,
+Added: the Parties jointly requested a stay of the arbitration in an effort to resolve the dispute through mediation.
+Added: Accordingly, the arbitration
+Added: is presently stayed, pending mediation.
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.