Item 1. Legal Proceedings
Item
1. Legal Proceedings.
In
July 2022, the Israeli Subsidiary gave the lessor advanced notice of its intention to exercise the exit point on December 31, 2022, while
negotiating the fifth-year terms. The parties were unable to reach agreements and in July 2023 the subsidiary vacated the leased premises.
In February 2025 a lawsuit was filed against the Company for a total of $1,600. Given the preliminary stage in which the lawsuit is at,
the Israeli Subsidiary’s lawyers cannot reasonably assess the likelihood of the claims to be accepted by court. Given that Company’s
plan to litigate the case, and given the dynamics of such trials in Israel, a decision by a court is not anticipated until 2027.
From
time to time, we may be party to litigation arising in the ordinary course of business. Except as described above, as of the date of
this prospectus, we are not subject to any material legal proceedings nor, to the best of our knowledge, are any material legal proceedings
pending or threatened against us.
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