Zeo ScientifiX, Inc. 10-Q

Item 1. Legal Proceedings. In addition to matters previously reported in the Company’s periodic reports filed with the SEC under the Exchange Act, on August 17, 2021, the Company was served with a summons and complaint by LAE International Consulting, LLC, in the case styled LAE International Consulting, LLC v. Organicell Regenerative Medicine, Inc. et al., Case No. 2021-018461-CA-01 (In the Circuit Court of the 11th Judicial Circuit in and for Miami Dade County, Florida) (“Lawsuit”). Albert Mitrani, Mari Mitrani and Ian Bothwell are also named as defendants in the Lawsuit, but to date have not been served. In the Lawsuit, LAE alleges breach of contract, unjust enrichment, violation of Florida’s Unfair and Trade Practices Act, breach of obligation of good faith and fair dealing, negligent misrepresentation and fraud in connection with a prior consulting agreement entered into between the Company and LAE. In the Lawsuit, Plaintiff is seeking judgment for damages, injunctive relief, together with interest, costs, attorneys’ fees and other such relief as may be shown. The Company denies any wrongdoing and responsibility in connection with the Lawsuit. The Lawsuit is in its infancy as a majority of the defendants have not been served with a copy of the complaint. The Company believes that it has strong defenses to the Lawsuit. The Company believes that any liability, if any, ultimately resulting from this lawsuit should not materially affect its consolidated financial results. Item 1A. Risk Factors. As a “ smaller reporting company ” we are not required to disclose information under this Item .