Item 1. Legal Proceedings
ITEM 1. LEGAL PROCEEDINGS
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.
On March 27, 2025, the Petition
was filed with the District Court of Tel Aviv-Jaffa for a court order to commence insolvency proceedings against Gix Media as further
described above under “ Recent Developments— Filing of Insolvency Petition Against Gix Media ”. We cannot currently
assess the likelihood of success of the Petition or its potential impact on the Company’s business.
There is no other 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.
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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.