Legal Proceedings.
−Removed: We may, from time to time, in the ordinary course, be
−Removed: subject to various legal proceedings and disputes.
−Removed: In addition, as part of the ordinary course of business, we may be parties to
−Removed: litigation involving claims relating to the ownership of funds in particular accounts, the collection of delinquent accounts, credit relationships,
−Removed: challenges to security interests in collateral and foreclosure interests, which are incidental to our regular business activities.
−Removed: the ultimate liability with respect to these other litigation matters and claims cannot be determined at this time, we are
−Removed: currently not aware of any such pending or threatened legal proceedings or claims that we believe will have or is likely to have,
−Removed: individually or in the aggregate, a material adverse effect on our business, financial position, results of operations or cash flows.
−Removed: Where appropriate, reserves for these various matters of litigation are established, under FASB ASC Topic 450, Contingencies, based in
−Removed: part upon management’s judgment and the advice of legal counsel.
+Added: October 17, 2024, the Company caused a Complaint to be filed in the District Court for the City and County of Denver, Colorado, captioned
+Added: SHF Holdings, Inc.
+Added: Daniel Roda, Gregory W.
+Added: Ellis, and James R.
+Added: Carroll , Case No.
+Added: 2024CV33187 (Denver County District Court).
+Added: On November 21, 2024, in connection with the Company’s request, the Company caused the Merger Payment to be deposited into
+Added: the Denver County District Court’s registry so that it can be distributed in accordance with the terms of the Merger Agreement.
+Added: The Merger Payment has already been accounted for in the working capital deficit disclosed in the Liquidity and Going Concern section.
+Added: On December 19, 2024, Daniel Roda, Gregory W.
+Added: Ellis, and James R.
+Added: Carroll caused
+Added: an answer and counterclaim to be filed in response to the Company Complaint.
+Added: For additional details, p lease refer to the section
+Added: titled “Abaca legal case in Denver” in the Recent Updates above as well as the Company’s Current Reports on Form 8-K
+Added: filed with the SEC on October 18, 2024 and December 19, 2024.
+Added: the foregoing, we may, from time to time, in the ordinary course, be subject to various legal proceedings and disputes.
+Added: as part of the ordinary course of business, we may be parties to litigation involving claims relating to the ownership of funds in particular
+Added: accounts, the collection of delinquent accounts, credit relationships, challenges to security interests in collateral and foreclosure
+Added: interests, which are incidental to our regular business activities.
+Added: While the ultimate liability with respect to these other litigation
+Added: matters and claims cannot be determined at this time, we are currently not aware of any such pending or threatened legal proceedings
+Added: or claims that we believe will have or is likely to have, individually or in the aggregate, a material adverse effect on our business,
+Added: financial position, results of operations or cash flows.
+Added: Where appropriate, reserves for these various matters of litigation are established,
+Added: under FASB ASC Topic 450, Contingencies, based in part upon management’s judgment and the advice of legal counsel.
least quarterly, we assess our liabilities and contingencies in connection with outstanding legal proceedings utilizing the latest information
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