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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Table of Contents
PART II
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