Legal Proceedings
+Added: May 28, 2019, William Singer, our former President and a former Director, filed suit against the Company and our wholly owned
+Added: subsidiary, Street Smart Outdoor Corp., in Superior Court of New Jersey, Monmouth County, Law Division.
+Added: Singer alleges breach
+Added: of contract and has demanded $450,000.00 in lost wages.
+Added: The matter is currently pending in Superior Court.
+Added: November 14, 2019 suit was filed against the Company by shareholders James J.
+Added: and Justin Derkack requesting that the
+Added: Company reverse the underlying transactions related to the MedRecycler-RI, Inc.
+Added: project such that 100% of the revenues and profits
+Added: generated from the project remain with the Company.
+Added: We do not believe that there are merits to the claim given the explicit determination
+Added: by those authorities approving permanent financing for the project that they will not approve financing so long as the Company
+Added: has direct ownership in MedRecycler-RI, Inc.
+Added: The matter is currently pending in Superior Court.
time to time the Company is a party to various legal or administrative proceedings arising in the ordinary course of our business.
1 unchanged sentence
have a material adverse effect on the financial condition or results of operations of the Company.
−Removed: the Company is not involved in any pending or threatened material litigation or other material legal proceedings, nor have we
−Removed: been made aware of any pending or threatened regulatory audits.
+Added: the Company is not involved in any other pending or threatened material litigation or other material legal proceedings, nor have
+Added: we been made aware of any pending or threatened regulatory audits.
is no material bankruptcy, receivership, or similar proceeding with respect to the Company or any of its significant subsidiaries.
1 unchanged sentence
Company is unable to meet its capital requirements in 2019.
−Removed: are no proceedings which any director, officer, or affiliate of the Company, any owner of record or beneficially of more than
−Removed: five percent (5%) of any class of voting securities of the Company, or any associate of any such director, officer, affiliate
−Removed: of the Company, or security holder is a party adverse to the Company or any of its subsidiaries or has any material interest adverse
−Removed: to the Company or any of its subsidiaries.
−Removed: However, several shareholders have threatened derivative suit against our Board of
−Removed: As of the date of this filing, no formal suit has been filed.
are no administrative or judicial proceedings arising from any federal, state, or local provisions that have been enacted or adopted
2 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.