Company: SATT
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001683168-25-002119
Chunk: 653

Company: SATIVUS TECH CORP.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 8
Chunk 653
---
 to directors or officers under Delaware law, we have been advised that, in the
opinion of the Securities and Exchange Commission, indemnification is against public policy, as expressed in the Act and is, therefore,
unenforceable.

 15 

Family Relationships

No family relationship exists between any director,
executive officer, or any person contemplated to become such.

Director Independence

We currently do not have any independent directors
serving on our board of directors.

Possible Potential Conflicts

The OTCBB where our stock is quoted does not currently
have any director independence requirements.

No member of the Board of Directors will be required
by us to work on a full-time basis. Accordingly, certain conflicts of interest may arise between us and our director(s) in that they may
have other business interests in the future to which they devote their attention, and they may be expected to continue to do so although
Directors’ time must also be devoted to our business. As a result, conflicts of interest may arise that can be resolved only through
their exercise of such judgment as is consistent with each officer’s understanding of his/her fiduciary duties to us.

Currently we have two, and will seek to add additional
officer(s) and/or director(s) as and when the proper personnel are located and terms of employment are mutually negotiated and agreed,
and we have sufficient capital resources and cash flow to make such offers.

We cannot provide assurances that our efforts
to eliminate the potential impact of conflicts of interest will be effective.

Involvement in Certain Legal Proceedings

None of our directors or executive officers has,
during the past ten years:

    ·
    has had any bankruptcy petition filed by or against any business of which he was a general partner or executive officer, either at the time of the bankruptcy or within two years prior to that time;

    ·
    been convicted in a criminal proceeding or been subject to a pending criminal proceeding (excluding traffic violations and other minor offences);

    ·
    been subject to any order, judgment, or decree, not subsequently reversed, suspended or vacated, of any court of competent jurisdiction, permanently or temporarily enjoining, barring, suspending or otherwise limiting his involvement in any type of business, securities, futures, commodities or banking activities;

    ·
    been found by a court of competent jurisdiction (in a civil action), the Securities and Exchange Commission or the Commodity Futures Trading Commission to have violated a federal or state securities or commodities law, and the judgment has not been