What changed in this filing

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Item 2. Properties

2022-03-17 compared with 2021-03-16 · 17 added, 40 removed, 2 unchanged (97% of the section changed)

LEGAL PROCEEDING

are currently not involved in any litigation that we believe could have a material adverse effect on our financial condition or

results of operations, except as set forth below.

There is no action, suit, proceeding, inquiry or investigation before or by

any court, public board, government agency, self-regulatory organization or body pending or, to the knowledge of the executive

officers of the Company, threatened against or affecting the Company, our Common Stock, our officers or directors in their capacities

as such, in which an adverse decision could have a material adverse effect, other than as set forth below.

August 7, 2019, Viewbix Ltd.

was named as a co-defendant in a civil lawsuit filed with the Jerusalem District Court (the “Jerusalem

Court”) by three shareholders of Viewbix Ltd.

(in this section, the “Shareholders”), alleging that they were

entitled to receive certain preferred shares in Viewbix Ltd., pursuant to a certain 2007 loan agreement by and between Viewbix

and the petitioning Shareholders, following the sale of Viewbix Ltd.

shares to Gix (the “Conversion”).

The Shareholders

sought declaratory recourse from the Jerusalem Court, pursuant to which the Shareholders demanded, inter alia , shares in

Gix on a post-Conversion basis or in an alternative form of compensation.

On February 27, 2020, the parties presented their respective

arguments before the Jerusalem Court, and the Jerusalem Court determined that the Company is entitled to file a motion for dismissal

of the claims by the Shareholders by March 31, 2020, which was subsequently postponed to August 9, 2020.

On September 24, 2020,

the parties submitted before the Jerusalem Court a settlement proposal, which was thereafter approved by the Jerusalem Court on

the same date (the “Settlement”).

The Settlement provided, inter alia , that in exchange for the voluntary waiver

of claims held by the Shareholders, Gix instructed the trustee holding the instant shares of Gix, which were issued by Gix as

part of the transaction where Gix acquired share capital of Viewbix in November 2018, to issue 63,350 shares of Common Stock owned

by Gix to the Shareholders, whereby the remaining shares in the trust account will be used to indemnify Gix for any expenses related

to the instant litigation.

Since the aforementioned compensation was provided in the form of shares of Common Stock

previously owned by Gix, the settlement has no effect on the Company’s financial statements.

June 2017, a lawsuit was filed with the Regional Labor Court in Tel Aviv (the “Tel Aviv Court”) against Emerald Israel,

and other defendants, claiming certain damages in the total amount of approximately $225,000, under the assertion of wrongful

termination by Emerald Israel.

We believe these claims to be unsubstantiated and wholly without merit and accordingly filed our

response with the Tel Aviv Court in October of 2017.

The dispute was initially heard by the Tel Aviv Court on February 13, 2020.

In a supplemental hearing on February 11, 2021, the plaintiff provided a certified confirmation of payment of approximately

$14,668 by the National Insurance Institute of Israel for one month’s prior notice of termination, redemption of 16.8 days

of vacation and severance pay.

The plaintiff’s summaries were filed on March 11, 2021, and the defendant’s summaries

will be filed within 30 days of receiving the plaintiff’s summaries.

are currently not involved in any litigation that we believe could have a material adverse effect on our financial condition or results

of operations, except as set forth below.

There is no action, suit, proceeding, inquiry or investigation before or by any court, public

board, government agency, self-regulatory organization or body pending or, to the knowledge of the executive officers of the Company,

threatened against or affecting the Company, our Common Stock, our officers or directors in their capacities as such, in which an adverse

decision could have a material adverse effect, other than as set forth below.

June 2017, a lawsuit was filed with the Regional Labor Court in Tel Aviv (the “Tel Aviv Court”) against Emerald Israel, and

other defendants, claiming certain damages in the total amount of approximately $225,000, under the assertion of wrongful termination

by Emerald Israel.

We filed our response with the Tel Aviv Court in October of 2017.

The dispute was initially heard by the Tel Aviv

Court on February 13, 2020.

In a supplemental hearing on February 11, 2021, the plaintiff provided a certified confirmation of payment

of approximately $14,668 by the National Insurance Institute of Israel for one month’s prior notice of termination, redemption

of 16.8 days of vacation and severance pay.

On June 3, 2021, and after the plaintiff and the defendants filed their summaries, the lawsuit

against Emerald Israel was dismissed.

MINE SAFETY DISCLOSURES

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.

What changed 10-K

Item 2. Properties