Item 3. Legal Proceedings
ITEM 3.
LEGAL PROCEEDINGS
From time to time, the Company may become involved in various legal proceedings
in the ordinary course of its business and may be subject to third-party infringement claims.
In the normal course of business, the Company may agree to indemnify third
parties with whom it enters into contractual relationships, including customers, lessors, and parties to other transactions with the Company,
with respect to certain matters. The Company has agreed, under certain conditions, to hold these third parties harmless against specified
losses, such as those arising from a breach of representations or covenants, other third-party claims that the Company’s products
when used for their intended purposes infringe the intellectual property rights of such other third parties, or other claims made against
certain parties. It is not possible to determine the maximum potential amount of liability under these indemnification obligations due
to the Company’s limited history of prior indemnification claims and the unique facts and circumstances that are likely to be involved
in each claim.
From time to time, the Company is subject to various claims that arise
in the ordinary course of business. Management believes that any liability of the Company that may arise out of or with respect to these
matters will not materially affect the financial position, results of operations, or cash flows of the Company.
As of the date of this Annual Report, there is no known material litigation
or claims against the Company.
ITEM 4.
MINE SAFETY DISCLOSURES
Not applicable.
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PART II
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