Reliability Incorporated wins arbitration award of ~$11.9M plus interest; receiver appointed

RELIABILITY INC

Award of $3.46M to MMG under Note I (4.5% interest), $800k under Note III (2.5% interest) from June 30, 2022.
$2.31M personal guaranty award against Naveen Doki (6% interest); $1M in stock transfer to company.
$4.33M fraud damages award against Naveen, Valleru, Janumpally, Pathuri jointly/severally (6% interest).
Rehabilitative receiver appointed to collect damages due to board deadlock; voting restrictions on certain shares.
Parties have until September 19, 2022 to submit proposals for the receivership.

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