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Therefore, no assurance can be given on the outcome of any proceeding or the potential impact on our results of operations or financial condition.
−Removed: During the period ended December 31, 2022, Altor/NantCell initiated legal proceedings against Dr.
+Added: Settlement and General Release:
+Added: During the year ended December 31, 2022, Altor/NantCell initiated legal proceedings against Dr.
Wong and the Company.
7 unchanged sentences
The Arbitration hearing was held from May 20, 2024 to May 31, 2024, after which the parties entered into settlement negotiations.
−Removed: As reported in the Company’s Form 8-K filed on July 18, 2024 and further described in Part I, Item 3.
−Removed: – “Legal Proceedings” below, as of July 13, 2024, the Company and Dr.
−Removed: Wong, the Company’s Founder and Chief Executive Officer, entered into a confidential Settlement Agreement and Release (the “Settlement Agreement”) with Altor BioScience, LLC (“Altor”), NantCell, Inc.
+Added: On July 18, 2024, we announced that , as of July 13, 2024, we and Dr.
+Added: Wong, our Founder and Chief Executive Officer, entered into a confidential Settlement Agreement and Release (the “Settlement Agreement”) with Altor BioScience, LLC (“Altor”), NantCell, Inc.
(“NantCell”), and ImmunityBio, Inc.
1 unchanged sentence
Wong (“Complaint”).
+Added: See Part I, Item 3.
+Added: – “Legal Proceedings” for further information.
The Settlement Agreement includes mutual general releases by and among the parties thereto.
No party is required to make any monetary payments to any other party or person under the Settlement Agreement and each party will bear its own expenses incurred in connection with the matter.
−Removed: In accordance with the provisions of the Settlement Agreement, upon
−Removed: completion of remedial procedures, the parties stipulated that the Arbitration and Complaint should be dismissed.
+Added: In accordance with the provisions of the Settlement Agreement, upon completion of remedial procedures, the parties stipulated that the Arbitration and Complaint should be dismissed.
The Arbitration and related Complaint were dismissed with prejudice on or about December 24, 2024.
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The Company retains ownership of the cell lines for HCW9302, HCW9206 and HCW9201, and thus will retain independent control over manufacturing and supply for these compounds.
+Added: Other Matters
+Added: As the Company reported in a Form 8-K, on April 17, 2025, the Company received a summons and a copy of a complaint filed by BE&K in the Circuit Court of the 17th Judicial Circuit in and for Broward County, Florida (the “BE&K Complaint”).
+Added: Other Defendants named in the BE&K Complaint who are subcontractors elected to filed counterclaims and cross-claims in response thereto.
+Added: To our knowledge as of the date hereof, Cogent Bank, also named as a Defendant in the BE&K Complaint, has not elected to take legal action at this time.
+Added: In addition, on April 28, 2025, the Company received a summons and a copy of a complaint filed by Fisk Electric Company (which is a defendant in the BE&K Litigation) in the Circuit Court of the 17th Judicial Circuit in and for Broward County, Florida (the “Fisk Complaint”) against the Company, BE&K, and the other defendants in the BE&K Complaint.
+Added: On August 8, 2025, B&I Contractors, Inc.
+Added: (“B&I”), one of the defendants in the BE&K Complaint, filed a motion for summary judgment (the “MSJ”) as to the Count I (Foreclosure of Construction Lien).
+Added: The Company has responded to the BE&K and Fisk Complaints and cross-claims as well as the B&I MSJ.
+Added: The cases were consolidated, and a Case Management conference was held.
+Added: On February 19, 2026, a stipulation was submitted to the Court for a settlement and release agreement between the Company and B&I calling for payment of a total of $860,000 in installments in settlement of amounts owed and an allowance for interest and other fees the last installment of which is payable on or before May 31, 2026.
+Added: The remaining parties are engaged in discovery and the court set the case for trial in early December 2026.
+Added: On October 24, 2025, the Company was notified by Cogent Bank that it exercised its discretion to make a demand that the Company cure the Defaults no later than thirty (30) days after receipt of this letter in strict compliance with Section 7.2(3) of the Loan Agreement by:
+Added: (i) paying and discharging all of the Claims of Lien and causing satisfactions to be recorded in the Public Records of Broward County, Florida for all of the Claims of Lien, and (ii) resolving all litigation against the Borrower and the mortgaged property described in the Mortgage and causing such claims in the Foreclosure Actions to be dismissed and all related notices of lis pendens to be released.
+Added: The Company and Cogent Bank have had negotiations attempting to come to terms on a forbearance agreement to provide additional time for the Company to comply with the demands Cogent Bank made in the demand letter .
Item 4 Mine Saf ety Disclosures.
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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.