Legal Proceedings.
−Removed: Recent Sale of Unregistered Securities.
−Removed: Security issuances occurred during the quarter ended December 31, 201 4 .
−Removed: Name of Person or Group
−Removed: Consideration
−Removed: **Consultants
−Removed: **Legal Consultants
−Removed: * Issued as Restricted Securities under the 2009 Equity Incentive Plan;
−Removed: the shares issuable thereunder are registered on Form S-8 of the SEC.
−Removed: ** We issued these securities to persons who were either accredited investors or sophisticated investors as those terms are respectively defined in Rules 501 and 506 of the SEC;
−Removed: and each person had prior access to all material information about us.
−Removed: We believe that the offer and sale of these securities was exempt from the registration requirements of the Securities Act pursuant to Sections 4(2) and 4(6) thereof, and Rule 506 of Regulation D of the
−Removed: Section 18 of the Securities Act preempts state registration requirements for sales to these classes of persons, save for compliance with state notice and fee requirements, as may be applicable.
−Removed: Defaults Upon Senior Securities.
−Removed: not applicable.
−Removed: Mine Safety Disclosures
−Removed: not applicable.
+Added: Anthony Maher brought suit against PCS in January
+Added: of 2014, claiming breach of an employment contract, interference with economic expectancy, and fraud.
+Added: A settlement was agreed
+Added: in exchange for dismissal of the suit, and release of PCS from any liability to Mr.
+Added: Maher for any and all claims related to Mr.
+Added: Maher’s employment contract with PCS, PCS issued Mr.
+Added: Maher 400,000 shares of the common stock of PCS, and paid him $50,000.
+Added: PCS does not admit the allegations or any other wrongdoing, but would rather settle the matter for a modest amount costing the
+Added: Company $10,000 after insurance settlement and $2,650 in mediation fees, to avoid the expense of defending it in court.
+Added: settlement agreement was executed on July 9, 2014.
+Added: On or about May 18, 2015, the Company was named
+Added: as a co-defendant in a legal action related to one of its employees, alleged to have been driving an automobile negligently while
+Added: on work related services for the Company, and causing damages to the plaintiffs in the action.
+Added: The Company has engaged legal
+Added: counsel to represent it in this matter, and it is not presently in a position to determine what, if any, liability it may have
+Added: for the actions of its employee, or even whether such employee was negligence in any manner.
+Added: The Company also believes that
+Added: it has adequate insurance coverage for its legal representation and any potential liability.
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.