XML 27 R16.htm IDEA: XBRL DOCUMENT v3.21.2
SUBSEQUENT EVENTS
6 Months Ended
Jun. 30, 2021
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS

NOTE 10. SUBSEQUENT EVENTS

 

The Company has evaluated subsequent events through August 15, 2021, the date on which the unaudited condensed consolidated financial statements were available to be issued. Based upon this evaluation, management has determined that no material subsequent events have occurred that would require recognition in or disclosures in the accompanying unaudited condensed consolidated financial statements, except as follows:

 

On July 21, 2021, Maslow entered into a settlement agreement with Libertas and Kinetic, which resulted in MMG paying both parties $475, to settle the obligation which Vivos Holdings, LLC had committed MMG to, in July 2018. The agreement which included $100 in legal fees, released MMG from all claims judgements and obligations against MMG but did not release Naveen Doki, Silvija Valleru, Judos Trust, Igly Trust, Srinivas Kalidindi, Shirisha Janumpally, Federal Systems, Kalyan Pathuri, US IT Solutions Inc., 360 IT Professionals Inc., Alliance Micro Inc. Vivos IT LLC, Vivos Global Holdings LLC, Vivos Acquisitions LLC, or Vivos Holdings.from the remaining obligation. According to Kinetic and Libertas the amount due before the settlement was $1,773. MMG became a debtor when Vivos Holdings had included MMG as a signer on its confession of judgement in September 2018. MMG will pursue enforcement of the aforementioned Liquidation Agreement, (See Note 2) which was put into place prior to the Merger Agreement to shield the Company if the Vivos Group should default, which unbeknownst to the Company had already transpired, prior to the merger closing. However, upon default the Libertas notes reverted to their original outstanding totals. There were 4 total loans in the settlement, with the 3 domesticated judgements in Montgomery County circuit court relating to MMG totaling $1,038. MMG’s negotiated payment of $475 settles that portion of the Libertas debt.

 

On August 9, 2021, Reliability filed an additional claim in the Debt Collection Suit and Vivos Default Counterclaim in the Circuit Court of Montgomery County, Maryland against Doki, Valleru, Pathuri, Janumpally, Igly, and Judos, asserting that the Respondents breached the Merger Agreement in a number of significant respects and potentially committed fraud in connection with the Merger.