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INLX on NYSE

INTELLINETICS, INC.

INTELLINETICS, INC. is an American prepackaged software services company based in Columbus.1 Its shares trade on NYSE under the symbol INLX.1

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Last updated Oct 21, 2026.

Overview

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  • TickerINLX on NYSE1
  • IndustryServices-Prepackaged Software1
  • HeadquartersColumbus, Ohio1
  • Incorporated inNV2
  • Business address2190 Dividend Drive, Columbus, Oh 432282
  • Filer categoryNon-accelerated filer, Smaller reporting company2
  • Legal formCorporation

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IntelliCloud ™ suite of software is comprised of stand-alone and integrated modules that include:4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

66.0%Gross margin5
-10.8%Operating margin5
-11.3%Net margin5
-8.0%Revenue growth, 20255
-16.5%Return on equity5
$579.5KFree cash flow5

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Professional Services brought in 49% of the revenue INTELLINETICS, INC. broke down this way in fiscal 2025.

  1. Professional Services$8.1M549%down 19% from 2024
  2. Software as a Service$6.3M538%up 11% from 2024
  3. Software Maintenance Services$1.3M58%down 9% from 2024
  4. Storage and Retrieval Services$827.8K55%down 8% from 2024
Products and services by year
Products and services20242025
Professional Services$10.0M$8.1M
Software as a Service$5.7M$6.3M
Software Maintenance Services$1.4M$1.3M
Storage and Retrieval Services$901.1K$827.8K

Business segments

Document Services brought in 52% of the revenue INTELLINETICS, INC. broke down this way in fiscal 2025.

  1. Document Services$8.6M552%down 18% from 2024
  2. Software$8.0M548%up 7% from 2024
Business segments by year
Business segments20242025
Document Services$10.5M$8.6M
Software$7.5M$8.0M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue34¢$5.6M
  • Other costs66¢$10.9M
  • Interest1¢$84.3K

Out of $16.6M in revenue.5 The company lost money this year.

Where each dollar of operating cash went, fiscal 2025

  • Capital spending38¢$354.4K
  • Kept or used elsewhere62¢$579.5K

Out of $933.9K of cash from operations.5

Financial statements

Revenue6789105$16.6M in 2025+554% since 2019
0$5.0M$10.0M$15.0M$20.0M2019: $2.5M$2.5M20192020: $8.3M$8.3M2020+225%2021: $11.5M$11.5M2021+39%2022: $14.0M$14.0M2022+22%2023: $16.9M$16.9M2023+20%2024: $18.0M$18.0M2024+7%2025: $16.6M$16.6M2025−8%
Gross profit6789105$11.0M in 2025+457% since 2019
0$5.0M$10.0M$15.0M2019: $2.0M$2.0M20192020: $5.0M$5.0M2020+154%2021: $6.9M$6.9M2021+39%2022: $8.9M$8.9M2022+28%2023: $10.6M$10.6M2023+19%2024: $11.4M$11.4M2024+8%2025: $11.0M$11.0M2025−4%
Operating income6789105-$1.8M in 2025+55% since 2019
-$3.0M-$2.0M-$1.0M0$1.0M$2.0M2019: -$1.2M-$1.2M20192020: -$2.0M-$2.0M2020+77%2021: $965.0K$965.0K20212022: $827.3K$827.3K2022−14%2023: $1.1M$1.1M2023+34%2024: -$173.5K-$173.5K20242025: -$1.8M-$1.8M2025+931%
Net income6789105-$1.9M in 2025−12% since 2019
-$3.0M-$2.0M-$1.0M0$1.0M$2.0M2019: -$2.1M-$2.1M20192020: -$2.2M-$2.2M2020+3%2021: $1.4M$1.4M20212022: $24.0K$24.0K2022−98%2023: $519.3K$519.3K2023+2061%2024: -$546.2K-$546.2K20242025: -$1.9M-$1.9M2025+243%

Every line of the income statement as filed: the last 2 fiscal years, latest first.5

Period ending2025-12-312024-12-31
Total revenues$16.6M$18.0M
Total cost of revenues$5.6M$6.6M
Gross profit$11.0M$11.4M
General and administrative$8.7M$8.0M
Sales and marketing$2.8M$2.4M
Depreciation and amortization$1.2M$1.1M
Total operating expenses$12.7M$11.5M
Loss from operations-$1.8M-$173.5K
Interest income (expense), net-$84.3K-$372.7K
Net loss-$1.9M-$546.2K
Basic net loss per share:-$0.44-$0.13
Diluted net loss per share:-$0.44-$0.13
Weighted average number of common shares outstanding - basic4.3M shares4.2M shares
Weighted average number of common shares outstanding - diluted4.3M shares4.2M shares

Compare INTELLINETICS, INC. with another company

Corporate structure

INTELLINETICS, INC. sits at the top of its group. 3 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of INTELLINETICS, INC.

  • INTELLINETICS, INC. Columbus, Ohio
    • 1. Intellinetics, Inc. Subsidiary · Ohio, United States
    • 2. Graphic Sciences, Inc. Subsidiary · Michigan, United States

Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What INTELLINETICS, INC. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Furniture and fixtures$337.3K5 Dec 31, 2025$337.3K5 Dec 31, 20240%
Computer equipment and software$2.2M5 Dec 31, 2025$1.9M5 Dec 31, 2024+17.5%
Leasehold improvements$395.9K5 Dec 31, 2025$395.9K5 Dec 31, 20240%
Property and equipment, before depreciation$2.9M5 Dec 31, 2025$2.6M5 Dec 31, 2024+12.6%
Accumulated depreciation$1.8M5 Dec 31, 2025$1.5M5 Dec 31, 2024+21.8%
Property and equipment, net$1.1M5 Dec 31, 2025$1.1M5 Dec 31, 2024−0.1%
Finance-lease assets$165.0K5 Dec 31, 2025$237.7K5 Dec 31, 2024−30.6%
Operating-lease assets (leased space)$1.4M5 Dec 31, 2025$1.9M5 Dec 31, 2024−26.4%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$2.5M10 Dec 31, 2024$1.2M10 Dec 31, 2023+104.8%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$5.8M5 Dec 31, 2025$5.8M5 Dec 31, 20240%
Intangible assets, net (excluding goodwill)$2.9M5 Dec 31, 2025$3.4M5 Dec 31, 2024−14.5%
Finite-lived intangibles, gross$5.2M5 Dec 31, 2025$5.2M5 Dec 31, 20240%
Accumulated amortization-$2.3M5 Dec 31, 2025-$1.8M5 Dec 31, 2024−26.6%
Finite-lived intangibles, net$2.9M5 Dec 31, 2025$3.4M5 Dec 31, 2024−14.5%

Inventory

ItemLatestA year beforeChange
Inventory, total$173.3K5 Dec 31, 2025$100.6K5 Dec 31, 2024+72.3%

Properties, in its own words

On January 1, 2010, we entered into an agreement to lease 6,000 rentable square feet of office space in Columbus, Ohio, used for our corporate headquarters, Document Services operations, and a small portion of our Software operations. The lease commenced on January 1, 2010 and, pursuant to a lease extension dated September 18, 2021, the lease expires on December 31, 2028. The monthly rental payment is $5,400, with gradually higher annual increases each January up to $5,850 for the final year.

We lease 36,000 square feet of space in Madison Heights, Michigan as the main facility for our Document Services operations. 20,000 square feet is used for records storage services, with the remainder of the space used for production, sales, and administration. The monthly rental payment is $45,828 with a lease term continuing until August 31, 2026.

The rest of Item 2

We also lease a separate 37,000 square foot building in Sterling Heights, Michigan for our Document Services operations, with most of the space used for document storage, except approximately 5,000 square feet, which is used for production. The monthly rental payment is $22,932, with gradually higher annual increases each May up to $24,171 for the final year, and with a lease term continuing to April 30, 2028.

We lease office space in Traverse City, Michigan for Document Services production, for which we signed a five-year extension in 2025, resulting in increased right of use assets and operating lease liabilities. The monthly rental payment is $5,400, with gradually higher annual increases each February up to $5,750 for the final year, and with a lease term continuing until January 31, 2031.

We also lease and use vehicles and scanners for logistics pertaining to our Document Services segment, primarily pickup and delivery of client materials, including storage and retrieval operations. The monthly rental payments for these vehicles total $10,153, with lease terms continuing until September 30, 2028.

We also lease and use an additional temporary office space in Madison Heights for our Document Services operations, with a monthly rental payment of $1,605 and a lease term on a month-to-month basis. We have made an accounting policy election to not record a right-of-use asset and lease liability for short-term leases, which are defined as leases with a lease term of 12 months or less. Instead, the lease payments are recognized as rent expense in the general and administrative expenses on the statements of income.

For each of the above listed leases, management has determined it will utilize the base rental period and have not considered any renewal periods.

We own and operate, for our Document Services segment, an extensive collection of the specialized equipment necessary for scanning images, converting microfilm to digital images or microfiche or vice-versa. We also have the ability to provide on-site capture operations for clients needing such services.

Item 2 of the 10-K filed Mar 30, 2026.4

Leadership

Who has led INTELLINETICS, INC., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. William J. Santiago2012
  2. Matthew L. Chretien2014–2017
  3. James F. Desocio2017–2026
  4. Alison G. Forsythe2026–now

Chair

  1. A. Michael Chretien2014

President

  1. William J. Santiago2012
  2. Matthew L. Chretien2014

Chief financial officer

  1. Matthew L. Chretien2012
  2. Joseph D. Spain2016–now
201520202025
Board members and other officers (18)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • DirectorWILLIAM COOKE named Apr 1, 202236

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • 1. Intellinetics, Inc. Ohio3
  • 2. Graphic Sciences, Inc. Michigan3

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Former names

  • GLOBALWISE INVESTMENTS INCOct 5, 2000 to Aug 14, 20142

Timeline

  1. Sep 18, 20268-K Executive or director change37
  2. Sep 2, 20268-K Executive or director change38
  3. Sep 1, 20268-K Executive or director change39
  4. Aug 12, 20268-K Results of operations40
  5. Jul 1, 20268-K Shareholder vote41
  6. May 14, 20268-K Results of operations42
  7. Mar 30, 20268-K Results of operations43
  8. Mar 2, 2026New chief executive Alison G. Forsythe becomes CEO14
  9. Feb 17, 20268-K Entered a material agreement; New debt or obligation; Executive or director change44
  10. Jan 27, 20268-K Executive or director change; Regulation FD disclosure45
  11. Nov 12, 20258-K Results of operations46
  12. Aug 13, 20258-K Results of operations47
  13. Jun 24, 20258-K Ended a material agreement; Shareholder vote; Other events48
  14. Nov 7, 2017New chief executive James F. Desocio becomes CEO15
  15. Sep 5, 2014New chief executive Matthew L. Chretien becomes CEO16
  16. Feb 17, 2012New chief executive William J. Santiago becomes CEO17

Calendar

Coming up

  1. Nov 11, 2026Reports results for the quarter ending Sep/202649

When it reported results

  1. Aug 12, 2026Reported quarterly or annual results40
  2. May 14, 2026Reported quarterly or annual results42
  3. Mar 30, 2026Reported quarterly or annual results43
  4. Nov 12, 2025Reported quarterly or annual results46
  5. Aug 13, 2025Reported quarterly or annual results47
  6. May 13, 2025Reported quarterly or annual results50
  7. Mar 25, 2025Reported quarterly or annual results51
  8. Mar 24, 2025Reported quarterly or annual results52

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

175 filings to the SEC since October 2021: 5 annual reports, 16 quarterly reports, 56 major events, 66 insider forms, 2 large holders, 1 private raises, 29 other. The latest 20:

  1. Oct 7, 20264 EDGAR
  2. Oct 5, 20264 EDGAR
  3. Sep 30, 20264 EDGAR
  4. Sep 28, 20264 EDGAR
  5. Sep 18, 20264 EDGAR
  6. Sep 18, 20268-K/A EDGAR
  7. Sep 16, 20264 EDGAR
  8. Sep 2, 20268-K/A EDGAR
  9. Sep 1, 20264 EDGAR
  10. Sep 1, 20268-K EDGAR
  11. Aug 12, 202610-Q EDGAR
  12. Aug 12, 20268-K EDGAR
  13. Jul 23, 2026S-8 EDGAR
  14. Jul 1, 20268-K EDGAR
  15. Jun 30, 20264 EDGAR
  16. Jun 30, 20264 EDGAR
  17. Jun 30, 20264 EDGAR
  18. Jun 30, 20264 EDGAR
  19. Jun 30, 20264 EDGAR
  20. Jun 18, 20264 EDGAR

The 175 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

23 open-market trades by officers, directors and large owners since October 2021: 17 buys and 6 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Sep 30, 2026SEID PAULDirectorBuy29$5.15$149Form 4
Sep 28, 2026SEID PAULDirectorBuy155$5.15$798Form 4
Sep 25, 2026SEID PAULDirectorBuy917$5.15$4.7KForm 4
Sep 24, 2026SEID PAULDirectorBuy171$5.15$881Form 4
Sep 17, 2026SEID PAULDirectorBuy27$5.10$138Form 4
Sep 16, 2026SEID PAULDirectorBuy689$5.10$3.5KForm 4
Sep 15, 2026SEID PAULDirectorBuy319$5.19$1.7KForm 4
Sep 14, 2026SEID PAULDirectorBuy809$5.25$4.2KForm 4
Aug 31, 2026TAGLICH ROBERT10% ownerBuy999$5.52$5.5KForm 4
Aug 27, 2026TAGLICH ROBERT10% ownerBuy1$5.00$5Form 4
Jun 17, 2026TAGLICH ROBERT10% ownerSale550$6.50$3.6KForm 4
Jun 17, 2026TAGLICH MICHAEL NDirectorSale550$6.50$3.6KForm 4
Jun 16, 2026TAGLICH ROBERT10% ownerSale3,754$6.58$24.7KForm 4
Jun 16, 2026TAGLICH MICHAEL NDirectorSale3,754$6.58$24.7KForm 4
Oct 7, 2025TAGLICH ROBERT10% ownerSale35,732$11.00$393.1KForm 4
Oct 7, 2025TAGLICH MICHAEL NDirectorSale35,732$11.00$393.1KForm 4
Mar 28, 2025Guttilla John CDirectorBuy3,000$12.00$36.0KForm 4
Dec 5, 2024Guttilla John CDirectorBuy3,500$14.50$50.8KForm 4
Aug 19, 2024TAGLICH MICHAEL NDirectorBuy951$9.00$8.6KForm 4
May 29, 2024Guttilla John CDirectorBuy10,000$6.60$66.0KForm 4

All 23 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025James F. DeSocio$355.0K$481.6K55
2025Joseph D. Spain$240.0K$340.6K55
2025Matthew L. Chretien$212.0K$322.2K55
2024President and Chief Executive Officer$355.0K$695.0K55
2024Chief Financial Officer and Treasurer$240.0K$515.9K55
2024Secretary and Chief Strategy Officer$212.0K$494.5K55

Money raised

Private offerings the company reported to the SEC on Form D.

  1. Mar 17, 2022Raised $8.5 million in a private offering of securities Form D: $10 million offered in all Form D

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Bard Associates Inc333,341$1.8M0.4%+1,038
Vanguard Capital Management LLC73,191$402.6K0.0%+20,445
Geode Capital Management, LLC26,628$146.5K0.0%−1,841
Vanguard Fiduciary Trust Co17,427$95.8K0.0%No change
Cetera Investment Advisers11,203$61.6K0.0%No change
BlackRock, Inc.9,158$50.4K0.0%+969
Tower Research Capital LLC (TRC)903$5.0K0.0%+490
Northwestern Mutual Wealth Management Co133$7320.0%New
UBS Group AG1$60.0%−265

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How INTELLINETICS, INC. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARINTELLINETICS, INC.1
  • CIK0001081745
  • Employer ID (EIN)87-06137164
  • Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; a shell company4
  • Incorporated inNevada4
  • Fiscal year endsDecember 311
  • Industry code (SIC)7372 Services-Prepackaged Software1
  • SEC reviewing officeOffice of Technology, Division of Corporation Finance1
  • Business address2190 Dividend Drive, Columbus, OH 432281
  • Phone61438889091
  • Shares outstanding4,494,994 as of Aug 10, 202612
  • Public float$35.5M as of Jun 30, 20254
  • AuditorGBQ Partners LLC, Columbus, Ohio PCAOB ID 1808; no auditor attestation of internal control over financial reporting4
  • On EDGAR sinceOct 2, 20001
  • Filings566 in all: 8-K (179), 4 (139), 10-Q (56), 3 (22), 10QSB (21), 10-K (19), DEF 14A (15), D (10)1
    All 42 form types

    424B3 (9), 10KSB (7), 8-K/A (7), CORRESP (6), DEFA14A (6), S-1/A (6), SC 13D (6), UPLOAD (6), 10-K/A (5), 10SB12G/A (5), EFFECT (5), S-1 (5), ARS (3), PRE 14A (3), 10-Q/A (2), 10KSB/A (2), DEFR14A (2), PRE 14C (2), S-8 (2), SC 13D/A (2), 10SB12G (1), 3/A (1), 4/A (1), 424B5 (1), 5 (1), 8-A12B (1), CERT (1), D/A (1), DEF 14C (1), NT 10-Q (1), S-3 (1), SC 14F1 (1), SCHEDULE 13D/A (1), SCHEDULE 13G (1)

  • Latest filingsAnnual report (10-K) Mar 30, 2026
    Quarterly report (10-Q) Aug 12, 2026
    Proxy statement (DEF 14A) Apr 30, 2026
    Latest 8-K (8-K) Sep 1, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, par value $0.001 per shareINLXNYSE American

From the cover page of the 10-K filed Mar 30, 2026 (Section 12(b) of the Exchange Act).4

Risk factors and legal proceedings

The risks INTELLINETICS, INC. names in Item 1A of its 10-K filed Mar 30, 2026: 41 risks under these headings, as written.4

  • Risks Relating to Our Business
  • We have high customer concentration with government clients. Any loss or volume reduction of our largest customer or any other major customer or the failure to collect a large account receivable could negatively affect our results of operations and financial condition.
  • Uncertainty in the education industry or reduced governmental spending on education may have a chilling effect on our prospective K-12 Education clients, making it more difficult to close sales with new customers.
  • General inflation and increases in the minimum wage and general labor costs have affected and may continue to adversely affect our business, financial condition and results of operations.
  • Current and future competitors could have a significant impact on our ability to generate future revenues and profits.
  • If we are unable to continue to attract new customers and increase market awareness of our company and solutions, our revenue growth could be slower than we expect or could decline.
  • Any significant reduction in the sales efforts or cooperative efforts from our partners could materially impact our revenues.
  • Reduced IT or enterprise software spending may adversely impact our business.
  • Consolidation in the industry, particularly by large, well-capitalized companies, could place pressure on our operating margins which could, in turn, have a material adverse effect on our business.
  • We must manage our internal resources during periods of company growth, or our operating results could be adversely affected.
  • We may be unable to acquire other businesses, technologies or companies or engage in other strategic transactions, and we may not be able to successfully realize the benefits of and may be exposed to a variety of risks from any such strategic transactions.
  • Risks Related to Product Development
The other 31 risks
  • We need to continue to develop new technologically-advanced products that satisfy our customers and successfully integrate with the software products and enhancements used by our customers.
  • If our products and services do not gain market acceptance, our operating results may be negatively affected.
  • Our investment in our current research and development efforts may not provide a sufficient, timely return.
  • Our products may contain defects that could harm our reputation, be costly to correct, delay revenues, and expose us to litigation.
  • The use of open-source software in our products may expose us to the risk of having to disclose the source code to our product, rendering our software no longer proprietary and reducing or eliminating its value.
  • The loss of licenses to use third-party software or the lack of support or enhancement of such software could adversely affect our business.
  • Financial Risks
  • We need to continue to maintain an effective system of internal controls, in order to be able to report our financial results accurately and timely and prevent fraud.
  • We may not be able to generate sufficient cash to service any indebtedness that we may incur from time to time, which could force us to sell assets, cease operations, or take other detrimental actions for our business.
  • The terms of our line of credit will restrict our financing flexibility.
  • If our estimates or judgments relating to our critical accounting policies are based on assumptions that change or prove to be incorrect, our operating results could fall below expectations of securities analysts and investors,
  • resulting in a decline in our stock price.
  • A significant downturn in our business may not be immediately reflected in our operating results because of the way we recognize revenue.
  • Legal and Regulatory Risks
  • Our contracts with government clients subject us to risks including early termination, audits, investigations, sanctions, and penalties.
  • We are subject to the reporting requirements of federal securities laws, causing us to make significant compliance-related expenditures that may divert resources from other projects, thus impairing our ability to grow.
  • The elimination of monetary liability against our directors, officers, agents and employees under Nevada law, and the existence of indemnification rights to such persons, may result in substantial expenditures by us and may discourage lawsuits against our directors, officers, agents and employees.
  • Security breaches may harm our business.
  • We may become involved in litigation that may materially adversely affect us.
  • Any claim that we infringe on a third party’s intellectual property could materially increase costs and materially harm our ability to generate future revenues and profits.
  • Risks Relating to Our Common Stock
  • We may issue additional securities at prices which may result in substantial dilution to our stockholders.
  • Shares of our common stock that have not been registered under the Securities Act, regardless of whether such shares are restricted or unrestricted, are subject to resale restrictions imposed by Rule 144.
  • An active, liquid and orderly market for our common shares may not be sustained, and you may not be able to sell your common shares.
  • We are subject to the continued listing requirements of the NYSE American. If we are unable to comply with such requirements, our common shares would be delisted from the NYSE American, which would limit investors’ ability to effect transactions in our common shares and subject us to additional trading restrictions.
  • The market price of our common stock may limit the appeal of certain alternative compensation structures that we might offer to the high-quality employees we seek to attract and retain.
  • Shares eligible for future sale may adversely affect the market price of our common stock.
  • The price of our common stock may fluctuate significantly and lead to losses by stockholders.
  • FINRA sales practice requirements may limit a shareholder’s ability to buy and sell our stock.
  • We do not expect to pay any dividends on our common stock for the foreseeable future.
  • General Risks
  • Global economic uncertainty is likely to affect our operating results or financing in ways that are hard to predict or to defend against.
  • Any disruption of service at data centers that house our data could harm our business.
  • If we are not able to attract and retain top employees, our ability to compete may be harmed.
  • Failure to protect our intellectual property could harm our ability to compete effectively.

Legal proceedings

From time to time, we are subject to ordinary routine litigation and claims incidental to our business. We are not currently involved in any legal proceedings that we believe to be material.

The opening of Item 3, Legal Proceedings.4

Sources

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