Quarterly report pursuant to Section 13 or 15(d)

SUBSEQUENT EVENTS

v3.22.1
SUBSEQUENT EVENTS
3 Months Ended
Mar. 31, 2022
SUBSEQUENT EVENTS  
Note 10 - Subsequent Events

NOTE 10 - SUBSEQUENT EVENTS

 

On April 13, 2022, AEGLE Partners, 2 LLC (“AEGLE”) initiated an arbitration in Michigan against the Company with the American Arbitration Association. AEGLE asserted claims related to a certain Supply Chain Consulting Agreement entered into between AEGLE and the Company in 2019 (as amended from time to time, the “Agreement”), and a disagreement between AEGLE and the Company regarding whether AEGLE is entitled to payment of certain fees and warrants pursuant to the Agreement. AEGLE’s complaint seeks, among other things, three times the payment of such alleged fees and warrants and recovery of AEGLE’s costs and expenses. The Company believes that the claims made by AEGLE in its complaint are without merit and we intend to vigorously defend ourselves against them.