What changed in this filing

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Item 3. Legal Proceedings

2022-02-14 compared with 2021-02-08 · 39 added, 5 removed, 2 unchanged (96% of the section changed)

Legal Proceedings.

time to time, we may become involved in various lawsuits and legal proceedings which arise in the ordinary course of business.

However, litigation is subject to inherent uncertainties, and an adverse result in these or other matters may arise from time

to time that may harm our business.

are currently not aware of any pending legal proceedings to which we are a party or of which any of our property is the subject,

nor are we aware of any such proceedings that are contemplated by any governmental authority.

On June 17, 2021, Organicell received a subpoena

dated June 14, 2021, from the Atlanta Regional Office of the SEC requiring the production of certain documents and communications in connection

with the treatment and results of various COVID-19 patients, as discussed in the Company’s Current Reports on Form 8-K filed with

the SEC during the period from May 27, 2020 through May 11, 2021.

The Company is fully cooperating with the SEC’s investigation

and believes that it will be able to provide all of the information requested by the SEC.

The Company can make no assurances as to the

time or resources that will need to be devoted to this investigation or its final outcome, or the impact, if any, of this investigation

or any proceedings on the Company’s current business, financial condition, results of operations, cash flows, or the Company’s

future operations.

On August 17, 2021, the Company was served

with a summons and complaint by LAE International Consulting, LLC (“LAE”), in the case styled LAE International Consulting,

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) (the “Lawsuit”).

Albert Mitrani, Mari Mitrani and Ian Bothwell (the “Individual

Defendants”) are also named as defendants in the Lawsuit.

In the Lawsuit, LAE alleges breach of contract, unjust enrichment, violation

of Florida’s Unfair and Deceptive Trade Practices Act, breach of obligation of good faith and fair dealing, negligent misrepresentation

and fraudulent misrepresentation in connection with a prior consulting agreement entered into between the Company and LAE.

to institution of the Lawsuit, the Company terminated the consulting agreement.

In the Lawsuit, LAE is seeking judgment for

compensatory damages, interest, costs, and attorneys’ fees.

The Company denies any wrongdoing and responsibility in connection

with the Lawsuit, and believes it has strong defenses to the Lawsuit.

Although the Lawsuit is in its early stages, the Company and the

Individual Defendants have filed motions to dismiss due to, among other things, (a) that the consulting agreement expressly negates LAE’s

(b) there was, in fact, no breach of contract by the Company;

its barebones claims that the Company and Individual Defendants induced LAE into a contract that they did not intend to perform;

of the claims against the Individual Defendants do not exist as a matter of law;

and (e) technical deficiencies in the complaint itself

The Company is awaiting a ruling on the motion, and the Individual Defendants’ motion to dismiss will be set for hearing in due

In addition to the foregoing, from time to time,

we may become involved in various lawsuits and legal proceedings which arise in the ordinary course of business.

Litigation is subject

to inherent uncertainties, and an adverse result in any such matter may harm our business.

Mine Safety Disclosures.

Not applicable.

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.

What changed 10-K

Item 3. Legal Proceedings