COMMITMENTS AND CONTINGENCIES	3 Months Ended
Mar. 31, 2023
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES	NOTE 13 – COMMITMENTS AND CONTINGENCIES On or about October 7, 2022, the Company accepted service in a suit filed in the United States District Court for the Southern District of New York by Long Side Ventures LLC, R & T Sports Marketing Inc., Sierra Trading Corp., Taconic Group LLC, KBW Holdings LLC, Robert Huebsch, Ann E. Huebsch, Joseph Camberato, Joseph Crook, Sachin Jamdar, Michael Matilsky, Gerard Scollan, and Daisy Arnold (collectively “Plaintiffs”) against Hempacco Co., Inc., Mexico Franchise Opportunity Fund, LP, Sandro Piancone, Jorge Olson, Neville Pearson, Stuart Titus, Jerry Halamuda, Retail Automated Concepts, Inc. f/k/a Vidbox Mexico Inc., and Vidbox Mexico S.A. De C.V. (collectively “Defendants”) (Case No. 1:22-cv-08152 (ALC)). The suit alleged that (i) Plaintiffs previously received a judgment (the “Judgment”) in a New York state court action (the “State Action”) against Retail Automated Concepts, Inc. (“RAC”) and Vidbox Mexico S.A. De C.V. (“Vidbox Mexico”), for breach of promissory notes issued by RAC to the Defendants in 2018 and guaranteed by Vidbox Mexico, and (ii) prior to the filing of the State Action, the Defendants fraudulently transferred and commingled assets, specifically 600 retail kiosks, in order to avoid enforcement of the Judgment with the Plaintiffs seeking monetary damages from Defendants. On or about November 29, 2022, the court granted the Defendants’ request to file a motion to dismiss the suit, and on December 30, 2022, the Defendants filed a motion to dismiss the suit for failure to state a claim and lack of personal jurisdiction. The court has not yet ruled on the motion to dismiss. Defendants believe the suit is without merit and intend to defend the matter vigorously.

COMMITMENTS AND CONTINGENCIES

3 Months Ended

Mar. 31, 2023

NOTE 13 – COMMITMENTS AND CONTINGENCIES

On or about October 7, 2022, the Company accepted service in a suit filed in the United States District Court for the Southern District of New York by Long Side Ventures LLC, R & T Sports Marketing Inc., Sierra Trading Corp., Taconic Group LLC, KBW Holdings LLC, Robert Huebsch, Ann E. Huebsch, Joseph Camberato, Joseph Crook, Sachin Jamdar, Michael Matilsky, Gerard Scollan, and Daisy Arnold (collectively “Plaintiffs”) against Hempacco Co., Inc., Mexico Franchise Opportunity Fund, LP, Sandro Piancone, Jorge Olson, Neville Pearson, Stuart Titus, Jerry Halamuda, Retail Automated Concepts, Inc. f/k/a Vidbox Mexico Inc., and Vidbox Mexico S.A. De C.V. (collectively “Defendants”) (Case No. 1:22-cv-08152 (ALC)). The suit alleged that (i) Plaintiffs previously received a judgment (the “Judgment”) in a New York state court action (the “State Action”) against Retail Automated Concepts, Inc. (“RAC”) and Vidbox Mexico S.A. De C.V. (“Vidbox Mexico”), for breach of promissory notes issued by RAC to the Defendants in 2018 and guaranteed by Vidbox Mexico, and (ii) prior to the filing of the State Action, the Defendants fraudulently transferred and commingled assets, specifically 600 retail kiosks, in order to avoid enforcement of the Judgment with the Plaintiffs seeking monetary damages from Defendants. On or about November 29, 2022, the court granted the Defendants’ request to file a motion to dismiss the suit, and on December 30, 2022, the Defendants filed a motion to dismiss the suit for failure to state a claim and lack of personal jurisdiction. The court has not yet ruled on the motion to dismiss. Defendants believe the suit is without merit and intend to defend the matter vigorously.