LEGAL PROCEEDINGS
−Removed: We are currently not involved
−Removed: in any litigation that we believe could have a material adverse effect on our financial condition or results of operations, except as
−Removed: set forth below.
−Removed: On March 27, 2025, the Petition
−Removed: was filed with the District Court of Tel Aviv-Jaffa for a court order to commence insolvency proceedings against Gix Media as further
−Removed: described above under “ Recent Developments— Filing of Insolvency Petition Against Gix Media ”.
−Removed: We cannot currently
−Removed: assess the likelihood of success of the Petition or its potential impact on the Company’s business.
−Removed: There is no other action,
−Removed: suit, proceeding, inquiry or investigation before or by any court, public board, government agency, self-regulatory organization or body
−Removed: pending or, to the knowledge of the executive officers of the Company, threatened against or affecting the Company, our common stock,
−Removed: our officers or directors in their capacities as such, in which an adverse decision could have a material adverse effect.
+Added: are currently not involved in any litigation that we believe could have a material adverse effect on our financial condition or results
+Added: of operations, except as set forth below.
+Added: March 27, 2025, the was filed with the District Court of Tel Aviv-Jaffa (the “Court”) for a court order to commence insolvency
+Added: proceedings under the Insolvency and Economic Rehabilitation Law, 5778 – 2018 against Gix Media.
+Added: The Petition was filed by a primary
+Added: Service Provider of Gix Media claiming that Gix Media owes it approximately $260,000 (excluding linkage differentials and interest) and
+Added: that Gix Media is unable to repay its debts to the Service Provider.
+Added: On July 16, 2025, the Court approved a settlement agreement entered
+Added: into between Gix Media, the Service Providers with respect to the debts owed by Gix Media to the Service Providers.
+Added: In connection with
+Added: the settlement agreement, the Company agreed to provide a guarantee for the debts owed by Gix Media to the Service Providers.
+Added: 22, 2025, pursuant to the terms of the settlement agreement, Gix Media paid approximately $1.13 million to the Service Providers as payment
+Added: in full of the debts owed to the Service Providers.
+Added: As a result of such payment in full by Gix Media to the Service Providers, the Petition
+Added: was dismissed.
+Added: is no other action, suit, proceeding, inquiry or investigation before or by any court, public board, government agency, self-regulatory
+Added: organization or body pending or, to the knowledge of the executive officers of the Company, threatened against or affecting the Company,
+Added: our common stock, our officers or directors in their capacities as such, in which an adverse decision could have a material adverse effect.
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.