Legal Proceedings
−Removed: time to time, we may be subject to legal proceedings, investigations and claims incidental to the conduct of our business.
−Removed: As of September
−Removed: 30, 2024, other than as set forth below, we are not a party to, nor are we aware of, any legal proceedings, investigations or claims
−Removed: which, in the opinion of our management, are likely to have a material adverse effect on our business, financial condition or results
−Removed: of operations.
−Removed: December 13, 2024, the Company received a Notice of Breach from AC Sunshine Securities LLC (“ACSS”), pursuant to which ACSS
−Removed: alleges that the Company breached an exclusivity provision in that certain Follow-On Offering Engagement Letter, by and between the Company
−Removed: and ACSS, and ACSS is seeking payment of fees and expenses.
−Removed: The Company is currently assessing the merits of ACSS’s claim.
+Added: From time to time, we may be subject to legal proceedings, investigations and claims incidental to the conduct of our business.
+Added: 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.
+Added: 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.
+Added: 517888/2025).
+Added: The complaint asserts claims for breach of contract, breach of express and implied warranties, fraud, and joint venture liability.
+Added: The plaintiff seeks damages in excess of $0.6 million, including compensatory and punitive damages.
+Added: On September 26, 2025, the Company filed a motion to dismiss the case.
+Added: The Company believes the claims are meritless and is vigorously defending the action.
+Added: 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.
Mine and Safety Disclosure
+Added: Not applicable.
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.