Item 1. Legal Proceedings
ITEM
1. LEGAL PROCEEDINGS
Except
as described below, from time to time, we may become involved in lawsuits, investigations and claims that arise in the ordinary course
of business. As of the date of this Quarterly Report on Form 10-Q, we are not a party to any litigation whereby the outcome of such litigation,
if determined adversely to us, would materially affect our financial position, results of operations or cash flows.
On
April 27, 2026, Bezalel Partners, LLC commenced an arbitration proceeding against the Company before JAMS, asserting claims for breach
of contract and declaratory relief arising from a Finder’s Fee Agreement and seeking damages in excess of $1,750,000, plus interest,
attorneys’ fees and costs. See Note 16 to the condensed consolidated financial statements included elsewhere in this Quarterly
Report on Form 10-Q for additional information regarding this proceeding.
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