Legal Proceedings
−Removed: May 28, 2019, William Singer, our former President and a former Director, filed suit against the Company and our wholly owned subsidiary,
−Removed: Street Smart Outdoor Corp., in Superior Court of New Jersey, Monmouth County, Law Division.
−Removed: Singer alleges breach of contract and
−Removed: has demanded $450,000.00 in lost wages.
−Removed: The matter is currently pending in Superior Court.
−Removed: The Company has reached a settlement with
−Removed: Singer in the amount of $47,500 to be paid over a period of 3 months, which have been paid.
−Removed: November 14, 2019 suit was filed against the Company by shareholders James J.
−Removed: and Justin Derkack requesting that the Company
−Removed: reverse the underlying transactions related to the MedRecycler-RI, Inc.
−Removed: project such that 100% of the revenues and profits generated
−Removed: from the project remain with the Company.
−Removed: The matter has been settled.
−Removed: August 3, 2021, MedRecycler-RI, Inc.
−Removed: received a demand letter related to moneys owed for the property leased in West Warwick, Rhode Island.
−Removed: The Company is a guarantor to the lease.
−Removed: The Lease has since been discharged and terminated.
time to time the Company is a party to various legal or administrative proceedings arising in the ordinary course of our business.
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is no material bankruptcy, receivership, or similar proceeding with respect to the Company or any of its significant subsidiaries.
−Removed: given the Company’s insolvency, there is a high risk that the Company may be forced to file for bankruptcy if the Company is unable
−Removed: to meet its capital requirements in 2021.
are no administrative or judicial proceedings arising from any federal, state, or local provisions that have been enacted or adopted
1 unchanged sentence
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.