Item 3. Legal Proceedings
ITEM
3. LEGAL PROCEEDINGS
On
February 17, 2021, two children of James Meikle, our former President and Chief Operating Officer, filed a Complaint in the Eighth Judicial
District Court, Clark County, Nevada (case no. A-21-829563-C), alleging we were obligated under Mr. Meikle’s Employment Agreement
to purchase at least $540,000 of life insurance for Mr. Meikle, who passed away on November 28, 2018. The Complaint seeks damages of
$540,000, as well as interest and expenses. We deny we were obligated to purchase such life insurance and we have raised other issues
which we believe are adverse to their claim. We are vigorously opposing this claim.
Other
Matters
Except
as noted above, we are not a party to any pending legal proceeding, nor are any of our properties the subject of a pending legal proceeding,
that is not in the ordinary course of business or otherwise material to the financial condition of its business. None of our directors,
officers or affiliates is involved in a proceeding adverse to our business or has a material interest adverse to our business.
ITEM
4. MINE SAFETY DISCLOSURES
Not
applicable
10
PART
II
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