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 March 31, 2025, 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 2025; 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 three
months ended March 31, 2025, 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.
8
PART II - OTHER INFORMATION
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.