All In FutureTech Alliance, Inc.
For the period ended Jun 30, 2026. Filed Aug 14, 2026.
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Jun 30, 2026 · Filed Aug 14, 2026
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Legal Proceedings
ITEM 1. LEGAL PROCEEDINGS.
Frank Ng
On October 4, 2023, Frank Ng, the former Chief Executive Officer of the Company, filed an arbitration demand with the American Arbitration Association alleging that the Company failed to make approximately $1.0 million in payments allegedly due under certain Restricted Stock Unit and separation agreements. The arbitration was subsequently held in abeyance due to nonpayment of arbitration fees.
Thereafter, Mr. Ng filed a complaint in the Superior Court of California, County of Orange, arising from the same underlying dispute. On June 12, 2026, the court granted in part the Company’s motion to compel arbitration and stayed the court proceedings pending completion of the arbitration. The arbitration has resumed, and the Company has asserted counterclaims against Mr. Ng. A hearing on the merits is scheduled for January 2027. The matter remains pending.
For additional information, see Note 12, “Commitments and Contingencies,” to the accompanying condensed consolidated financial statements.
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