Item 3. Legal Proceedings
ITEM
3. LEGAL PROCEEDINGS
On
December 16, 2022, the Company received notice that on August 10, 2022, a former employee of Aggieland Wild Animal – Texas, filed
a Complaint in the 361st District Court of Brazos County, Texas (case no. 22-001839-CV-361), alleging the Company and Aggieland-Parks,
Inc. committed several instances of employment discrimination. The Complaint sought unspecified economic, compensatory and punitive damages,
as well as attorney’s fees and costs. On June 3, 2024, the Company entered into a settlement agreement and mutual release of claims
with the former employee related to this matter and paid the former employee $75,000.
On
March 1, 2024, Focused Compounding Fund, LP (“Focused Compounding”) filed a Complaint in the Eighth Judicial District Court
of Clark County, Nevada (case no. A-24-888295-B) against the Company and each of our Board of Directors, alleging that the defendants
were contemplating efforts to entrench themselves as members of the Board of Directors. Simultaneously with filing its Complaint, Focused
Compounding sought a Preliminary Injunction that would require the Company and our Directors to take various actions. On June 20, 2024,
Focused Compounding, the Company and the named defendants agreed to a stipulation dismissing with prejudice any and all claims by and
between the parties outlined in the initial Complaint in light of the results of the Company’s annual meeting of stockholders held
on June 6, 2024. See Note 3, Contested Proxy and Related Matters of the Notes to the Consolidated Financial Statements included
in this Annual Report on Form 10-K for additional information.
Other
Matters
Except
as noted above, we are not a party to any pending legal proceedings, 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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