AXIM Biotechnologies Inc (AXIM) has released an update.
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AXIM Biotechnologies settled a legal dispute with Innovative Medical Supplies involving allegations of fraud and other causes of action by entering into a confidential agreement to avoid the costs and uncertainty of litigation. Although denying any wrongdoing, AXIM will pay $100,000 over 24 months, participate in cassette sales, and issue 20 million restricted shares to settle all claims. This comprehensive settlement aims to put an end to both the ongoing lawsuit and any related future claims.
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