5 unchanged sentences
alleges the Defendants breached the lease in various material respects.
−Removed: The Defendants have not yet been served in this matter.
−Removed: were no other material changes during the quarter ended June 30, 2024, to our disclosure in Part I, Item 3, “Legal Proceedings”
+Added: September 25, 2024, the Company entered into a Settlement Agreement for a full release and dismissal of the complaint within 5 business
+Added: days of the Company’s payment of $250,000.
+Added: Pursuant to the Settlement Agreement, the Company made the first payment of $150,000
+Added: was made on September 25, 2024 and a final payment of $100,000 was due and paid on October 25, 2024.
+Added: On October 29, 2024 the Landlord
+Added: filed a discontinuance with prejudice.
+Added: to the asset purchase agreement with SemiCab, the Company assumed a judgement against SemiCab regarding damages resulting from contract
+Added: breach for IT subscription-based services.
+Added: On March 28, 2020, SemiCab entered into a service contract and agreement with Blue Yonder,
+Added: (“Blue Yonder”) for certain IT subscription-based services.
+Added: The original term of the agreement was for three years,
+Added: at a price of $100,000 per year, for a total of $300,000.
+Added: On June 21, 2023, Blue Yonder filed a lawsuit claiming damages in the
+Added: amount of $275,000 with the Maricopa County Superior Court in Arizona (“Lawsuit”).
+Added: The suit was found in favor of Blue Yonder
+Added: in the amount of $509,119, subject to two separate milestone payments that would otherwise deem the entire balance due satisfied if either
+Added: milestone payment is made by the Company.
+Added: The first milestone payment for $175,000 and was due on July 1, 2024 and was not made.
+Added: In the event this payment is made, the remaining settlement shall be deemed satisfied.
+Added: If this payment is not made, the Company shall
+Added: owe a total of $225,000 by October 1, 2024.
+Added: In the event this payment is made, the remaining settlement shall be deemed satisfied.
+Added: neither payment is made, Blue Yonder shall be entitled to execute the full $509,119 beginning January 1, 2025.
+Added: As of the date of this
+Added: filing, none of the scheduled payments have been made.
+Added: A liability of $509,119 has been recorded as a component of accrued expenses on
+Added: the accompanying condensed consolidated balance sheets.
+Added: December 21, 2023, Ault Lending, LLC, a wholly owned subsidiary of Ault Alliance, Inc.
+Added: (“Ault”), one of the Company’s
+Added: largest shareholders, filed a derivative shareholder action in Delaware Chancery Court against the Company, its Directors, and other
+Added: Company shareholders (The Stingray Group, Inc.
+Added: and Regalia Ventures) (“the Defendants”) for alleged breach of fiduciary duty
+Added: in approving a recent above-market private placement equity transaction.
+Added: The complaint alleges the Company, and its directors followed
+Added: an inadequate process in evaluating the private placement transaction which occurred back in November 2023 and entered into the transaction
+Added: with an intent to dilute Ault’s ownership stake in the Company.
+Added: The Company filed a motion to dismiss the complaint.
+Added: Company’s assessment of the facts underlying the claims, the uncertainty of the litigation and the preliminary stage of the case,
+Added: the Company cannot reasonably estimate the potential loss or range of loss that may result from this action.
+Added: were no other material changes during the quarter ended September 30, 2024, to our disclosure in Part I, Item 3, “Legal Proceedings”
of our Form 10-KT for the period ended December 31, 2023.
7 unchanged sentences
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.