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report were not effective at a reasonable assurance level due to the material weaknesses in internal control over financial reporting.
−Removed: described below.
−Removed: The Company’s disclosure controls and procedures are designed to provide reasonable assurance that information
−Removed: required to be disclosed by us in reports that we file or submit under the Exchange Act (i) is recorded, processed, summarized and reported
−Removed: within the time periods specified in the SEC’s rules and forms;
−Removed: and (ii) accumulated and communicated to management, including our
−Removed: Chief Executive Officer and Chief Financial Officer, as appropriate, to allow timely discussions regarding required disclosure.
−Removed: that a control system, no matter how well designed and operated, cannot provide absolute assurance that the objectives of the control
−Removed: system are met, and no evaluation of controls can provide absolute assurance that all control issues and instances of fraud, if any, within
−Removed: a company have been detected.
−Removed: Changes in Internal Control Over Financial
+Added: The Company’s disclosure controls and procedures are designed to provide reasonable assurance that information required to be disclosed
+Added: by us in reports that we file or submit under the Exchange Act (i) is recorded, processed, summarized and reported within the time periods
+Added: specified in the SEC’s rules and forms;
+Added: and (ii) accumulated and communicated to management, including our Chief Executive Officer
+Added: and Chief Financial Officer, as appropriate, to allow timely discussions regarding required disclosure.
+Added: We believe that a control system,
+Added: no matter how well designed and operated, cannot provide absolute assurance that the objectives of the control system are met, and no
+Added: evaluation of controls can provide absolute assurance that all control issues and instances of fraud, if any, within a company have been
+Added: Changes in Internal Control Over Financial Reporting
Management has been actively engaged in remediating
−Removed: the material weaknesses discussed in our Form 10-K for the period ended December 31, 2022 filed with SEC on March 23, 2023.
+Added: the material weaknesses discussed in our Form 10-K for the period ended December 31, 2023 filed with SEC on April 1, 2024.
The following
−Removed: remedial actions have been taken during the quarter ended September 30, 2023:
−Removed: continue to strengthen our internal policies, processes, and reviews, including drafting of related documentation thereof;
−Removed: continue to engage outside consultants to ensure that appropriate level of knowledge and experience is applied based on risk and complexity of transactions and tasks under review;
−Removed: complete the internal
−Removed: control documentation with our consultants who have been engaged to assist in the design, implementation, and documentation of
−Removed: internal controls to address the relevant risks;
−Removed: engaged an outside internal control specialist team to perform a robust
−Removed: review of the design and implementation of internal controls;
−Removed: hired additional accounting resources with appropriate levels of experience
+Added: remedial actions have been taken during the quarter ended March 31, 2024:
+Added: Completed the internal control documentation along with engaging outside consultants to assist in the design, implementation and documentation of internal controls to address the relevant risks;
+Added: Performed risk-based scoping activities to identify key business processes, and engaged an outside internal control specialist team to assist in designing, documenting, and implementing internal controls to address relevant risks;
+Added: Hired additional accounting resources with appropriate levels of experience, including a new Chief Financial Officer in 2023;
+Added: Continue to engage outside consultants to ensure that the appropriate level of knowledge and experience is applied based on risk and complexity of transactions and tasks under review.
The process of implementing an effective financial
12 unchanged sentences
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.