2 unchanged sentences
Such matters are subject to many uncertainties, and outcomes are not predictable with assurance.
−Removed: As of June 30, 2023, the Company and one of its officers are parties to the following litigation matter:
+Added: As of September 30, 2023, the Company and one of its officers are parties to the following litigation matter:
Apogee Financial Investments, Inc., et al.
19 unchanged sentences
The Company filed its reply in support of summary judgment on May 16, 2023.
−Removed: On July 20, 2023, after the close of the quarterly reporting period, the court granted the motion for summary judgment in substantial part, ruling (a) that Apogee breached the parties’ purchase agreement, (b) that Clarke’s claims were barred by the applicable statute of limitations, (c) that Apogee breached a contract related to a loan made by IGC to Apogee in 2015 and that IGC is entitled to damages and interest as a result;
+Added: On July 20, 2023, the court granted the motion for summary judgment in substantial part, ruling (a) that Apogee breached the parties’ purchase agreement, (b) that Clarke’s claims were barred by the applicable statute of limitations, (c) that Apogee breached a contract related to a loan made by IGC to Apogee in 2015 and that IGC is entitled to damages and interest as a result;
and (d) that all claims against Mukunda are dismissed.
−Removed: The court is expected to set a trial date to decide certain remaining issues:
−Removed: (i) whether IGC breached the purchase agreement by issuing restricted, as opposed to unrestricted, stock to Apogee, and, if so, what damages, if any, Apogee may receive as a result;
−Removed: and (ii) the amount of damages IGC will be awarded based on Apogee’s breach of the purchase agreement.
−Removed: The Company considers the counterclaim and the Apogee Litigation to be ordinary, routine litigation incidental to the business.
−Removed: The Company denies any and all liability and, in particular, denies that it breached the purchase agreement and that Apogee has suffered any damages.
−Removed: Given the Company’s position that Apogee suffered no damages due to any conduct by IGC, the Company intends to seek resolutions of the litigation without proceeding to trial.
−Removed: However, failing those efforts, the Company intends to vigorously defend the litigation and is represented by counsel for that purpose.
+Added: As a result of the settlement, the court dismissed the case in its entirety on October 6, 2023.
We are a smaller reporting company as defined by Rule 12b-2 of the Exchange Act and are not required to provide the information under this item.
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.