Item 2. Properties
ITEM
2. PROPERTIES
None.
ITEM
3. LEGAL PROCEEDING
We
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.
In
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.
ITEM
4. MINE SAFETY DISCLOSURES
None.
PART
II
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.