Item 1. Legal Proceedings
ITEM 1. LEGAL PROCEEDINGS
The Company is not currently a party to any material
legal proceedings and is not aware of any pending or threatened legal proceeding against the Company that the Company believes could
have a material adverse effect on its business, operating results, cash flows or financial condition. The Company may periodically be
the subject of various pending or threatened legal actions and claims arising out of its operations in the normal course of business.
Regardless of the outcome, such proceedings or claims can have an adverse impact on the Company because of defense and settlement costs,
diversion of resources and other factors, and there can be no assurances that favorable outcomes will be obtained. In the opinion of
management of the Company, adequate provision has been made in the Company’s financial statements at June 30, 2021 with respect
to such matters.
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