Item 3. Legal Proceedings
ITEM 3. Legal Proceedings
From time to time, we may
be subject to legal proceedings, investigations and claims incidental to the conduct of our business. As of September 30, 2025, other
than as set forth below, we are not a party to, nor are we aware of, any legal proceedings, investigations or claims which, in the opinion
of our management, are likely to have a material adverse effect on our business, financial condition or results of operations.
On June 2, 2025, a civil
action was filed against the Company and certain of its officers in the Supreme Court of the State of New York, County of Kings (Index
No. 517888/2025). The complaint asserts claims for breach of contract, breach of express and implied warranties, fraud, and joint venture
liability. The plaintiff seeks damages in excess of $600,000, including compensatory and punitive damages. On September 26, 2025, the
Company filed a motion to dismiss the case. The Company believes the claims are meritless and is vigorously defending the action. While
the outcome of litigation is inherently uncertain, we do not believe this matter will have a material adverse effect on our financial
condition, results of operations, or cash flows.
ITEM 4. Mine and Safety Disclosure
Not applicable.
37
PART II
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.