LEGAL PROCEEDINGS
−Removed: know of no material, existing or pending legal proceedings against our Company, nor are we involved as a plaintiff in any material proceeding
−Removed: or pending litigation.
−Removed: There are no proceedings in which any of our directors, officers or affiliates, or any registered or beneficial
−Removed: shareholder, is an adverse party or has a material interest adverse to our interest.
+Added: know of no material, existing or pending legal proceedings against our Company.
+Added: We are involved as a plaintiff in a Complaint filed in
+Added: the SUPERIOR COURT OF THE STATE OF CALIFORNIA FOR THE COUNTY OF SAN DIEGO NORTH COUNTY (the “Complaint”) on November
+Added: The Complaint alleges that former employees would place an order from a customer for purchase of product from OZOP with
+Added: funds the exact source of which is presently unknown.
+Added: OZOP alleges that next, the customer would sell that product to OZOP’s customers
+Added: at a price marked up from the price for which the customer purchased from OZOP – to the benefit of Defendants and to the detriment
+Added: of OZOP, their employer at the time.
+Added: The Complaint further alleges that the former employees falsely represented that the price the customer
+Added: was obtaining from other suppliers and therefore was willing to pay for OZOP product decreased, which allowed them to use the customer
+Added: to then sell additional product to OZOP’s customers at increasingly larger margins, thus further wrongfully enriching themselves
+Added: to the detriment of their employer, OZOP.
+Added: The lawsuit also alleges that the employees were also making false statements to Ozop’s
+Added: customers regarding the financial condition of Ozop and the lack of module inventory.
+Added: are no proceedings in which any of our directors, officers or affiliates, or any registered or beneficial shareholder, is an adverse
+Added: party or has a material interest adverse to our interest.
applicable for smaller reporting companies.
−Removed: UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
−Removed: were no unregistered sales of equity securities during the quarter ended September 30, 2022.
−Removed: DEFAULTS UPON SENIOR SECURITIES
−Removed: MINE SAFETY DISCLOSURE
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.