NOTE 14 - COMMITMENTS AND CONTINGENCIES Litigation Certain conditions may exist as of the date the consolidated financial statements are issued which may result in a loss to the Company, but which will only be resolved when one or more future events occur or fail to occur. The Company assesses such contingent liabilities, and such assessment inherently involves an exercise of judgment. In assessing loss contingencies related to legal proceedings that are pending against the Company, or unasserted claims that may result in such proceedings, the Company evaluates the perceived merits of any legal proceedings or unasserted claims, as well as the perceived merits of the amount of relief sought or expected to be sought therein. If the assessment of a contingency indicates that it is probable that a material loss has been incurred and the amount of the liability can be estimated, then the estimated liability would be accrued in the Companys consolidated financial statements. If the assessment indicates that a potentially material loss contingency is not probable, but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability and an estimate of the range of possible losses, if determinable and material, would be disclosed. Loss contingencies considered remote are generally not disclosed, unless they involve guarantees, in which case the guarantees would be disclosed. There can be no assurance that such matters will not materially and adversely affect the Companys business, financial position, and results of operations or cash flows. Settlement On January 15, 2020, the Company entered into a Settlement Agreement with YA II PN, LTD. (YA II) for the settlement of litigation, pursuant to which the Company issued YA II a total of 2,375,000 shares of common stock pursuant to an exemption from registration afforded by Section 3(a)(10) of the Securities Act of 1933, as amended (the Settlement Agreement). In connection with the Settlement Agreement the parties agreed to release each other from any and all claims they may have had against the other. The aggregate value of the common stock issued to YA II was approximately $0.3 million, which amount was accrued at December 31, 2019. License Agreement On April 17, 2020, we entered into an Amended and Restated License Agreement (License Agreement) with Taronis Technologies, Inc. (Taronis Technologies). The License Agreement amends and restates in its entirety, with retroactive effect, that certain Distribution and License Agreement entered into with Taronis Technologies on July 16, 2019. The License Agreement expands Taronis Technologies intellectual property protections throughout the world, including locations where the Company intends to operate, but for which Taronis Technologies may not have intellectual property protection. The fundamental terms of the License Agreement remain and include: (a) the Companys exclusive worldwide rights to manufacture and distribute the proprietary metal cutting fuel MagneGas as well as any other gases created using the equipment and methods claimed by Taronis Technologies patents, (b) certain other rights related to the Companys use of Taronis Technologies trademarks, patents, software and other intellectual property and (c) the Companys ability to commercially manufacture and sell the Venturi Flow Submerged Plasma Arc Gasification Units for the creation of gases. The Company will pay to Taronis Technologies, on a monthly basis, a seven percent (7%) royalty on any net cash proceeds received by the Company in relation to the use of any intellectual property comprising the Licensing Agreement. The License Agreement does not convey use of Taronis Technologies intellectual property portfolio for any use related to water sterilization/decontamination technology applications. As of December 31, 2019 the Company did not incur a license expense.