4 unchanged sentences
The Company recognized this as a litigation settlement expense in the accompanying consolidated statement of operations for the year ended December 31, 2023, and a litigation settlement payable in the accompany consolidated balance sheet at December 31, 2024 and December 31, 2023.
−Removed: On March 31, 2024, the vendor agreed to extend the payment until May 15, 2024 for payment of an additional $25,000.
−Removed: The Company has not made the payment as of October 28, 2024 and the settlement is payable on demand.
−Removed: Such amount is included in litigation settlement payable in the accompanying consolidated balance sheet at December 31, 2024.
−Removed: On July 25, 2024 the arbitrator granted the implementation of interest at the statutory rate on the unpaid balance commencing May 15, 2024 until paid.
−Removed: On July 1, 2022, NeOnc Technologies, Inc.
−Removed: and Fox Infused, LLC, a Delaware limited liability company (“Fox Infused”), entered into an Intellectual Property License and Supply Agreement effective July 1, 2022 (the “Agreement”) whereby NeOnc agreed to supply certain products to Fox Infused and license certain of our patents.
+Added: March 31, 2024, the vendor agreed to extend the payment until May 15, 2024 for payment of an additional $25,000.
+Added: Company has not made the payment as of October 28, 2024, and the settlement is payable on demand.
+Added: Such an amount is included in
+Added: litigation settlement payable in the accompanying consolidated balance sheet at December 31, 2024.
+Added: On July 25, 2024 the
+Added: arbitrator granted the implementation of interest at the statutory rate on the unpaid balance commencing May 15, 2024 until
+Added: On July 1, 2022, NeOnc
+Added: Technologies, Inc.
+Added: and Fox Infused, LLC, a Delaware limited liability company (“Fox Infused”), entered into an Intellectual
+Added: Property License and Supply Agreement effective July 1, 2022 (the “Agreement”) whereby NeOnc agreed to supply certain
+Added: products to Fox Infused and license certain of our patents.
We terminated the Agreement with Fox Infused on April 25, 2023.
−Removed: On June 6, 2023, Fox Infused filed a complaint against NeOnc in the Central District of California alleging that the termination was improper (Civil Action No.
−Removed: Fox Infused also filed an ex parte application for a temporary restraining order and an order to show cause on a preliminary injunction against us seeking to have the court stop the termination of the contract.
−Removed: Fox Infused’s temporary restraining order application was denied and the case dismissed without prejudice.
−Removed: Fox Infused refiled the case in arbitration before the American Arbitration Association (Case No.
+Added: 2023, Fox Infused filed a complaint against NeOnc in the Central District of California alleging that the termination was improper (Civil
+Added: Fox Infused also filed an ex parte application for a temporary restraining order and an order to show cause on
+Added: a preliminary injunction against us seeking to have the court stop the termination of the contract.
+Added: Fox Infused’s temporary restraining
+Added: order application was denied and the case dismissed without prejudice.
+Added: Fox Infused refiled the case in arbitration before the American
+Added: Arbitration Association (Case No.
01-23-0002-5020).
−Removed: The parties engaged in settlement discussions, and agreed to settle the dispute for a $600,000 payment by us to Fox Infused within 5 business days of the closing date of the Company’s initial public offering or March 31, 2024.
−Removed: The Company is currently in default under the terms of such settlement agreement.
+Added: The parties engaged in settlement discussions and agreed to settle the dispute for
+Added: a $600,000 payment by us to Fox Infused within 5 business days of the closing date of the Company’s initial public offering or
+Added: March 31, 2024.
+Added: The Company is currently in default under the terms of such a settlement agreement.
In addition to that set forth above, we are, from time to time, party to various claims and legal proceedings arising out of our ordinary course of business, but we do not believe that any of these claims or proceedings will have a material effect on our business, consolidated financial condition or results of operations.
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.