Item 1. Legal Proceedings
ITEM
1. LEGAL PROCEEDINGS
On
July 26, 2024, OAC 111 Flatiron, LLC and OAC Adelphi, LLC, filed a civil action in the Supreme Court of the State of New York against
MICS Nomad LLC, a subsidiary of the Company (“MICS NY”), and the Company (“the Defendants”) for alleged breach
of lease, seeking monetary damages including unpaid rent, future unpaid rent, and other expenses related to the lease. The complaint
alleges the Defendants breached the lease in various material respects. The Defendants have not yet been served in this matter.
There
were no other material changes during the quarter ended June 30, 2024, to our disclosure in Part I, Item 3, “Legal Proceedings”
of our Form 10-KT for the period ended December 31, 2023. There are no other relevant matters to disclose under this Item for this period.
See Note 6 to our consolidated financial statements entitled “Commitments and Contingencies” which is incorporated in this
item by reference.
ITEM
1A. RISK FACTORS
Not
required for small reporting companies.
ITEM
2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
None.
23
ITEM
3. DEFAULTS UPON SENIOR SECURITIES
None.
ITEM
4. MINE SAFETY DISCLOSURES
Not
applicable.
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.