YUNHONG GREEN CTI LTD. 10-Q

Item 1. Legal Proceedings   The Company may be party to certain lawsuits or claims arising in the normal course of business. The ultimate outcome of these matters is unknown but, in the opinion of management, we do not believe any of these proceedings will have, individually or in the aggregate, a material adverse effect upon our financial condition, cash flows or future results of operation.   Benchmark Investments, Inc. v. Yunhong CTI Ltd., Case No. 1:21-cv-02279, was filed a case in the United States District Court for the Southern District of New York on March 16, 2021 and served on the Company on March 31, 2021. The complaint seeks damages in excess of $500,000. The Company has filed its Answer and Counterclaim to the complaint. The matter is currently still pending. The Company is currently unable to estimate the probability of any potential loss and thus no accrual has been recorded.   During February 2022, Engie Resources LLC filed a claim against the Company, seeking payment of $94,000 related to utilities provided during 2019.  During March 2022, the parties agreed to settle all claims for a series of payments to be made by the Company during 2022 totaling $75,000. Of this amount, $60,000 remained to be paid as of March 31, 2022.     Item 1A. Risk Factors   Not applicable.