Legal Proceedings
−Removed: series of legal actions and hearings took place starting in March of 2020 with the Vivos Group over Merger agreement violations and Vivos
−Removed: Group debt obligations.
−Removed: Arbitration was agreed to in the fall of 2021 by both the Vivos Group and MMG with the proceedings commencing
−Removed: in February 2022.
−Removed: August 31, 2022, the arbitrator issued the Award with the Company and MMG prevailing on their claims.
−Removed: The awards included citing of fraud
−Removed: Supplemental awards were subsequently issued on May 17, 2023, October 10, 2023, and finally on October 27, 2023.
−Removed: MMG was awarded the totals of all notes the Vivos Group had with MMG for its borrowings, the contracted interest, attorneys’ fees
−Removed: and expenses of $1,209, and a contract damage of $1,000, to be satisfied by the transfer of their shares of the Company Common Stock
−Removed: to the Company equal in value to $1,000.
−Removed: The aggregate amount of the Awards totaled $8,333.
−Removed: May 17, 2023 award appointed a Receiver whose primary function is to collect the contract and fraud damages, including costs, expenses,
−Removed: and fees provided in the awards.
−Removed: December 29, 2023, the Circuit Court for Montgomery County, Maryland signed orders entering all three arbitration awards as judgments
−Removed: in Reliability’s case against the Vivos Group.
−Removed: These orders became final on January 29, 2024, when the appeal period expired for
−Removed: the defendants.
−Removed: The judgments are good for 12 years and can be enrolled in other states.
+Added: A series of legal actions and hearings began in March 2020 involving the Vivos Group in connection with alleged merger
+Added: agreement violations and undisclosed debt obligations.
+Added: In the fall of 2021, the Company’s subsidiary, MMG, and the Vivos Group agreed
+Added: to resolve the disputes through arbitration, with proceedings commencing in February 2022.
+Added: On August 31, 2022, the arbitrator issued an award in favor of the Company and MMG, which included findings of fraud
+Added: Supplemental awards were issued on May 17, 2023, October 10, 2023, and October 27, 2023.
+Added: In total, MMG was awarded:
+Added: notes receivable from the Vivos Group for its borrowings,
+Added: fees and expenses of $1,209, and
+Added: damages of $1,000, to be satisfied by the transfer of the Vivos Group’s shares of the
+Added: Company’s common stock equal in value to $1,000.
+Added: The aggregate amount of the awards, including principal and interest, totals approximately $8,490 as of June 30,
+Added: 2025, with interest continuing to accrue.
+Added: The May 17, 2023 award appointed a Receiver to collect the contract and fraud damages, including costs, expenses,
+Added: On December 29, 2023, the Circuit Court for Montgomery County, Maryland entered all three arbitration awards as final
+Added: judgments in favor of the Company.
+Added: These judgments became final on January 29, 2024, upon expiration of the appeal period, and are enforceable
+Added: for 12 years and may be enrolled in other states.
+Added: While a Receiver has been appointed to enforce these judgments, there can be no assurance as to the timing or amount
+Added: of any recovery, or whether such recovery will be in cash, equity, or other assets.
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.