Item 8.01 Other Events.
On January 18, 2023, a jury in the Circuit Court of the 17th Judicial Circuit in
Broward County, Florida returned a verdict awarding compensatory damages in the
amount of $82,640,450 in favor of Strong Arm Productions USA, Inc., Tramar
Dillard p/k/a Flo Rida and D3M Licensing Group, LLC ("Plaintiffs") relating to a
lawsuit arising from a contract dispute between Plaintiffs and the Company. The
contract dispute originated in May 2021, when Plaintiffs sued the Company
seeking damages related to two endorsement contracts entered into between
Plaintiffs and the Company in 2014 and 2016, respectively.
The Company plans to appeal the verdict in this litigation matter.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit No Description
Exhibit 104 Cover Page Interactive Data File (embedded within the inline XBRL Document)
1
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