Legal Proceedings
−Removed: On June 6, 2023, a vendor filed a complaint against the Company for breach of contract in the Central District of California.
−Removed: The vendor alleged that the Company improperly terminated an Intellectual Property License and Supply Agreement (“IPLSA”) and that the Company also defrauded the vendor in connection with the IPLSA.
−Removed: This matter was settled on October 16, 2023, and the Company agreed to pay the vendor $600,000 within 5 business days of the close of the date that the Company completes an IPO or March 31, 2024, whichever occurs first.
−Removed: 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: March 31, 2024, the vendor agreed to extend the payment until May 15, 2024 for payment of an additional $25,000.
−Removed: Company has not made the payment as of October 28, 2024, and the settlement is payable on demand.
−Removed: Such an amount is included in
−Removed: litigation settlement payable in the accompanying consolidated balance sheet at December 31, 2024.
−Removed: On July 25, 2024 the
−Removed: arbitrator granted the implementation of interest at the statutory rate on the unpaid balance commencing May 15, 2024 until
+Added: On June 6, 2023, a vendor
+Added: filed a complaint against the Company for breach of contract in the Central District of California.
+Added: The vendor alleged that the Company
+Added: improperly terminated an Intellectual Property License and Supply Agreement (“IPLSA”) and that the Company also defrauded
+Added: the vendor in connection with the IPLSA.
+Added: This matter was settled on October 16, 2023, and the Company agreed to pay the vendor $600,000
+Added: within 5 business days of the close of the date that the Company completes an IPO or March 31, 2024, whichever occurs first.
+Added: Company recognized this as a litigation settlement expense in the accompanying consolidated statement of operations for the year ended
+Added: December 31, 2023.
+Added: On March 31, 2024, the
+Added: vendor agreed to extend the payment until May 15, 2024 for payment of an additional $25,000.
+Added: The Company has not made the payment
+Added: as of October 28, 2024, and the settlement is payable on demand.
+Added: Such an amount is included in litigation settlement payable in the
+Added: accompanying consolidated balance sheet at December 31, 2024.
+Added: On July 25, 2024 the arbitrator granted the implementation of
+Added: interest at the statutory rate on the unpaid balance commencing May 15, 2024 until paid.
+Added: This is still outstanding at September 30,
On July 1, 2022, NeOnc
18 unchanged sentences
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.