Company: GAUZ
Filing Date: 2025-03-11
Form Type: 20-F
Source: 0001213900-25-022437
Chunk: 38

Company: Gauzy Ltd.
Filing Date: 2025-03-11
Form: 20-F
Item: Item 4
Chunk 38
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, 2022, our motion to dismiss GGT’s second amended complaint was denied. On October 18, 2023, the inducement
of patent infringement and patent infringement claims were dismissed without prejudice for 30 days during which time GGT was permitted
to find replacement counsel. GGT was advised by the court that if it did not find a replacement counsel within such 30-day period that
such patent infringement claim would be dismissed with prejudice. On November 16, 2023, GGT filed a motion asking for a 60-day extension
of time to find counsel. We responded to such motion on November 29, 2023, and the court granted that motion, giving GGT until December
21, 2023 to secure and retain counsel. On December 21, 2023, GGT notified the court that it had reengaged one of its previous counsel.
On February 20, 2024, we filed our motion seeking recovery of our attorney fees as a sanction against the plaintiff and its lawyers for
bringing this lawsuit. On February 21, 2024, the court entered its order granting RFI motion for summary judgment, and granting RFI and
our motion to sanction plaintiff for filing a frivolous lawsuit. We are currently waiting for a ruling on our motion for attorney fees.

Except
as disclosed above, we have not been, and are not currently, a party to any material or pending litigation or regulatory proceedings
that could have a material adverse effect on our business, operating results, financial condition or cash flows. From time to time, we
may be involved in legal or regulatory proceedings arising in the ordinary course of our business.

C. Organizational Structure

We currently have five wholly-owned subsidiaries: Gauzy USA, Inc.,
which is incorporated in the State of Delaware; Gauzy GmbH, which is incorporated in Germany; Vision Lite SAS, which is incorporated in
France; Gauzy Trading (Shanghai) Co., Ltd., which is incorporated in China; and Gauzy Ltd. Korea, which is incorporated in the Republic
of Korea. Our subsidiary Vision Lite SAS currently wholly owns Vision Systems Corporate SAS, which is incorporated in France and has five
wholly-owned subsidiaries: Vision Systems SAS, which is incorporated in France; Vision Systems North America, Inc., which is incorporated
in Florida; Visi SYS Asia Pte Ltd., which is incorporated in Singapore; Vision Systems Middle East DWC LLC, which is incorporated in Dubai;