Item 4. Controls and Procedures
ITEM
4. CONTROLS AND PROCEDURES
(a)
Disclosure
Controls and Procedures .
Our
management, with the participation of our Chief Executive Officer and Chief Financial Officer, has evaluated the effectiveness of our
disclosure controls and procedures (as such term is defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act) as of September
30, 2024, or the Evaluation Date. Based on such evaluation, those officers have concluded that, as of the Evaluation Date, our disclosure
controls and procedures are ineffective in recording, processing, summarizing and reporting, on a timely basis, information required
to be included in periodic filings under the Exchange Act and that such information is not accumulated and communicated to management,
including our principal executive and financial officers, in a manner sufficient to allow timely decisions regarding required disclosure,
due to lack of sufficient internal accounting personnel, segregation of duties, lack of sufficient internal controls (including IT general
controls) that encompass the Company as a whole with respect to entity and transactions level controls in order to ensure complete documentation
of complex and non-routine transactions and adequate financial reporting.
Management
has identified corrective actions to remediate such material weaknesses, and subject to fundraising, which includes hiring additional
employees. Management intends to implement procedures to remediate such material weaknesses during the fiscal year 2024; however, the
implementation of these initiatives may not fully address any material weakness or other deficiencies that we may have in our disclosure
controls and procedures.
(b)
Changes
in Internal Control over Financial Reporting.
During
the nine months ended September 30, 2024, there were no changes in our internal control over financial reporting that have materially
affected, or are reasonably likely to materially affect, our internal control over financial reporting.
7
Table of Contents
PART
II - OTHER INFORMATION
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