UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
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FORM
CURRENT REPORT
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Item 8.01. | Other Events. |
Supplemental Award of Attorneys’ Fees and Expenses
On August 31, 2022, the arbitrator presiding over the Reliability, Incorporated and Maslow Media Group, Inc. arbitration case versus Vivos Holdings, LLC; Vivos Real Estate Holdings, LLC; Naveen Doki; Silvija Valleru; Suresh Doki; Shirisha Janumpally, individually and as Trustee of Judos Trust; Kalyan Pathuri, individually and as Trustee of Igly Trust; and Federal Systems, LLC issued an Arbitration Award with the Company and MMG prevailing on their claims.
Subsequently, there were two supplemental awards issued by the Arbitrator on May 17, 2023 and October 10, 2023, the latter appointing a Rehabilitative Receiver whose primary purpose is to collect the Award, and who also has been granted specified powers as described in the 8Q released on October 19, 2023.
On October 27, 2023, the Arbitrator entered a third supplemental award of attorneys’ fees and expenses in favor of Reliability, Incorporated., individually and as agent for Maslow Media Group, Inc.; Nicholas Tsahalis; Mark Speck; Jeffrey Eberwin; and Lone Star Value Management, LLC, against Naveen Doki; Silvija Valleru; Shirisha Janumpally, individually and as Trustee of Judos Trust; and Kaylan Pathuri, individually and as Trustee of Igly Trust, jointly and severally, in the amount of $1,209,088.65.
Additionally, the Arbitrator stated the actual amounts of interest that would be due will depend on when and how much is collected by the Rehabilitative Receiver on each award and will leave the determination of such interest to the Rehabilitative Receiver at the time that payments are made subject to review thereof by the Arbitrator at the request of any party.
The foregoing summary of the Supplemental Award is qualified in its entirety by reference to the full text of the Supplemental Award, which is filed as Exhibit 12.1 hereto and incorporated herein by reference.
Item 9.01. | Financial Statements and Exhibits. |
(d) | Exhibits |
Exhibit Number | Description |
12.1 | SUPPLEMENTAL AWARD OF ATTORNEYS’ FEES AND EXPENSES, dated Oct 27, 2023. | |
104 | Cover Page Interactive Data (embedded within the Inline XBRL document). |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
RELIABILITY, INCORPORATED | ||
By: | /s/ Nick Tsahalis | |
Nick Tsahalis |
||
President and Chief Executive Officer |
Date: | Oct 30, 2023 |