3 unchanged sentences
A control system, no matter how well conceived and operated, can provide only reasonable, not absolute, assurance that the objectives of the control system are met.
−Removed: Our Chief Executive Officer and Chief Financial Officer, after evaluating the effectiveness of our disclosure controls and procedures (as defined in Rule 13a-15(e) and 15d-15(e) of the Exchange Act) as of November 30, 2024, have concluded that our disclosure controls and procedures were not effective as of November 30, 2024, as a result of the material weaknesses in our internal control over financial reporting disclosed below.
+Added: Our Chief Executive Officer and Chief Financial Officer, after evaluating the effectiveness of our disclosure controls and procedures (as defined in Rule 13a-15(e) and 15d-15(e) of the Exchange Act) as of February 28, 2025, have concluded that our disclosure controls and procedures were not effective as of February 28, 2025, as a result of the material weaknesses in our internal control over financial reporting disclosed below.
A material weakness is a deficiency, or combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of a company’s annual and interim financial statements will not be detected or prevented on a timely basis.
2 unchanged sentences
• We have not yet designed and implemented user access controls to ensure appropriate segregation of duties that would adequately restrict user and privileged access to the financially relevant systems and data to appropriate personnel.
−Removed: • We did not design and maintain effective controls associated with related party transactions and disclosures.
−Removed: Controls were not designed or implemented at a sufficient level of precision or rigor to effectively identify related party relationships and disclose their related transactions in our financial statements.
• We also do not have a properly designed internal control system that identifies critical processes and key controls.
7 unchanged sentences
We will not be able to fully remediate the material weaknesses until these steps have been completed and have been operating effectively for a sufficient period of time.
+Added: Additionally, management has made modifications to our processes pertaining to related party transactions and disclosures during the three months ended August 31, 2024 and the three months ended November 30, 2024.
+Added: These modifications enhanced the precision relating to effectively identifying related party transactions and disclosing their related transactions in our financial statements.
+Added: Due to these enhancements, we believe the past reported material weakness is considered remediated as of February 28, 2025.
Changes in Internal Control over Financial Reporting
−Removed: There were no changes in internal control over financial reporting, other than the remediation steps described above that are in process, that occurred during the three months ended November 30, 2024, that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.
+Added: There were no changes in internal control over financial reporting, other than the remediation steps described above that are in process, that occurred during the three months ended February 28, 2025, that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.
Part 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.