What changed in this filing

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Item 4. Controls and Procedures

2026-08-14 compared with 2026-05-19 · 30 added, 26 removed, 15 unchanged (79% of the section changed)

2 unchanged sentences

management, with the participation of our Principal Executive Officer and Principal Financial Officer, evaluated the effectiveness of

our disclosure controls and procedures as of March 31, 2026, as required by Rules 13a-15(b) and 15d-15(b) under the Securities Exchange

Act of 1934, as amended.

our disclosure controls and procedures as of June 30, 2026, pursuant to Rules 13a-15(b) and 15d-15(b) under the Securities Exchange Act

of 1934, as amended.

Disclosure controls and procedures are designed to ensure that information required to be disclosed in the reports

that we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the

SEC’s rules and forms and that such information is accumulated and communicated to management, including our Principal Executive

Officer and Principal Financial Officer, as appropriate, to allow timely decisions regarding required disclosure.

we file or submit under the Exchange Act is recorded, processed, summarized, and reported within the time periods specified in the SEC’s

rules and forms and that such information is accumulated and communicated to management, including our Principal Executive Officer and

Principal Financial Officer, as appropriate, to allow timely decisions regarding required disclosure.

on this evaluation, our Principal Executive Officer and Principal Financial Officer concluded that our disclosure controls and procedures

were not effective as of March 31, 2026 because of the material weaknesses in internal control over financial reporting described below.

material weaknesses that have been identified for AMC are as follows:

were not effective as of June 30, 2026 due to the material weaknesses in our internal control over financial reporting described below.

material weaknesses identified by management include the following:

of Experienced Accounting Team - AMC lacks qualified in-house accounting staff and resources with adequate knowledge of U.S.

GAAP, and proper period-end financial closing and accrual processes.

A third-party consulting firm has been engaged to prepare financial statements and footnote disclosures in accordance with

of Duty Segregations - The Company separates the duties at certain areas, but there is only one person responsible for various

A third-party consulting firm has been engaged to prepare financial

statements and footnote disclosures in accordance with U.S.

of Segregation of Duties - The Company separates the duties at certain areas, but there is only one person responsible for various

functions of the Company, including processing payments and human resource functions.

4 unchanged sentences

of proper approval for related party transactions - AMC lacks a formal approval process for related party transactions.

Company does not currently maintain a formal internal audit function, which management considered in evaluating the effectiveness of

its control environment.

material weaknesses could result in misstatements of account balances or disclosures that would not be prevented or detected on a timely

Accordingly, management concluded that the Company did not maintain effective internal control over financial reporting as of

March 31, 2026.

have begun to take, and intend to continue taking, steps to remediate the material weaknesses described above.

Our remediation efforts

include strengthening our finance and accounting function, enhancing review and approval procedures, formalizing policies and procedures,

and improving the design and documentation of controls over financial reporting and related party transactions.

However, the material

weaknesses cannot be considered remediated until the applicable controls have been designed, implemented, operated for a sufficient period

of time, and management has concluded, through testing, that such controls are operating effectively.

This remediation process will require

additional time and expense.

addition, the Company does not currently maintain an internal audit function.

Management considered this factor in evaluating the overall

effectiveness of the Company’s internal control environment.

material weaknesses could result in material misstatements of the Company’s annual or interim financial statements that would not

be prevented or detected on a timely basis.

Accordingly, management concluded that the Company did not maintain effective disclosure

controls and procedures as of June 30, 2026.

has continued to implement measures designed to remediate the material weaknesses described above.

These remediation efforts include

strengthening the Company’s finance and accounting organization, enhancing review and approval procedures, formalizing accounting

policies and internal control documentation, improving inventory management processes, and establishing more formal controls over related-party

transactions.

Company also continues to utilize qualified external accounting professionals to assist with its financial reporting process while management

works to strengthen its internal accounting function.

management believes these remediation efforts will improve the Company’s internal control environment, the material weaknesses

will not be considered remediated until the applicable controls have been appropriately designed, implemented, operated for a sufficient

period of time, and management has concluded, through testing, that the controls are operating effectively.

in Internal Control over Financial Reporting

were no changes in our internal control over financial reporting (as such term is defined in Rules 13a-15(f) and 15d-15(f) of the Exchange

Act) during the most recent fiscal quarter that have materially affected, or are reasonably likely to materially affect, our internal

control over financial reporting.

were no changes in the Company’s internal control over financial reporting (as defined in Rules 13a-15(f) and 15d-15(f) under the

Exchange Act) during the quarter ended June 30, 2026 that have materially affected, or are reasonably likely to materially affect, the

Company’s internal control over financial reporting.

II - Other Information

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 4. Controls and Procedures