Item 1. Legal Proceedings
Item
1. Legal Proceedings.
We
are not currently a party to any pending or threatened legal proceedings other than the arbitration proceeding described below.
On
April 12, 2024, Noble Capital Markets, Inc. (“Noble”) filed a Demand for Arbitration against us in JAMS, claiming that
we breached the anti-dilution provision in the parties’ advisory agreement by not issuing to Noble an additional 474,134 shares
of our common stock. In September 2024, we settled the matter with Noble in exchange for $50,000 and 320,033 shares of our
common stock, which were issued during September 2024.
See
also Note 6 to our financial statements contained in Item 1 of Part I of this Quarterly Report on Form 10-Q, which is incorporated herein
by reference.
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.