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RELATED PARTY TRANSACTION
 3 Months Ended
Mar. 31, 2025
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTION

NOTE 13 – RELATED PARTY TRANSACTION

 

The firm FisherBroyles LLP handled all our Protrade litigation and appeals through December 31, 2024. For the year ended December 31, 2024, the Company was not billed and did not pay any legal fees to FisherBroyles. Ms. Cassirer did not provide any legal services or legal advice to the Company.

 

On January 1, 2024, Ms. Cassirer and the lawyers responsible for handling our Protrade litigation left the firm of FisherBroyles to join the firm of Pierson Ferdinand LLP. As of January1, 2024, the firm Pierson Ferdinand is the sole firm handling all our Protrade litigation and appeals. For the three months ended March 31, 2025, and 2024, Pierson Ferdinand was paid $58,000 and $0 respectively. As was the case in prior years, Ms. Cassirer does not provide any legal services or legal advice to the Company.

 

On April 1, 2025, Aurora Cassirer submitted her resignation as a member of the board of directors of the Company, which such resignation became effective immediately. Ms. Cassirer served as a member of the audit committee, corporate governance and nominating committee, and compensation committee. Ms. Cassirer’s resignation was not in connection with any disagreement with the Company on any matter relating to the Company’s operations, policies or practices, or any other matter.

 

On February 14, 2025, pursuant to the terms of the Merger Agreement and in connection with the Merger and the appointment of Doron Besser and Zeev Rotstein (together, the “Indemnitees”) to the Board of Directors, the Company and each of the Indemnitees entered into the Company’s standard form of indemnification agreement, which such indemnification agreements provide that the Company shall indemnify the Indemnitees to the fullest extent of permitted by applicable law in effect on the date hereof or as amended to increase the scope of permitted indemnification, against expenses, losses, liabilities, judgments, fines, penalties and amounts paid in settlement (including all interest, taxes, assessments and other charges in connection therewith) incurred by Indemnitee or on Indemnitee’s behalf in connection with any proceeding in any way connected with, resulting from or relating to Indemnitee’s corporate status.