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Management’s Evaluation of Disclosure Controls and Procedures
−Removed: Our management, with the participation of our chief executive officer (principal executive officer) and chief financial officer (principal financial officer), conducted an evaluation of the effectiveness of our disclosure controls and procedures for the reporting period ended June 30, 2022 as such terms is defined in Rule 13a-15(f) under the Exchange Act.
−Removed: Our chief executive officer and chief financial officer previously evaluated and concluded that our disclosure controls and procedures were effective as of June 30, 2022.
−Removed: As a result of the material weaknesses in our internal control over financial reporting, as explained below, our chief executive officer and chief financial officer, have updated their evaluation and now conclude the Company’s disclosure controls and procedures were not effective as of June 30, 2022 due to material weaknesses in the Company’s internal control over financial reporting described below.
+Added: Our management, with the participation of our chief executive officer (principal executive officer) and chief financial officer (principal financial officer), conducted an evaluation of the effectiveness of our disclosure controls and procedures for the reporting period ended March 31, 2022 as such terms is defined in Rule 13a-15(f) under the Exchange Act.
+Added: Our chief executive officer and chief financial officer previously evaluated and concluded that our disclosure controls and procedures were effective as of March 31, 2022.
+Added: As a result of the material weaknesses in our internal control over financial reporting, as explained below, our chief executive officer and chief financial officer, have updated their evaluation and now conclude the Company’s disclosure controls and procedures were not effective as of March 31, 2022 due to material weaknesses in the Company’s internal control over financial reporting described below.
The Company did not appropriately design a control to monitor the functional currency assessment of its subsidiaries in accordance with ASC Topic 830, Foreign Currency Matters, specifically with regard to foreign currency held by a newly formed subsidiary to effectuate a large international acquisition.
6 unchanged sentences
If we are unable to satisfactorily address the deficiencies underlying the material weaknesses in a timely fashion, or if additional material weaknesses in our internal control over financial reporting are discovered or occur in the future, then our consolidated financial statements may contain material misstatements and we could be required to restate future financial results and the price of our common stock could be adversely impacted.
−Removed: As of June 30, 2022 the material weaknesses described above have not yet been remediated.
+Added: As of March 31, 2022 the material weaknesses described above have not yet been remediated.
Management is in the process of developing a remediation plan.
1 unchanged sentence
The Company will monitor the effectiveness of its remediation plan and will make changes management determines to be appropriate.
+Added: In response to the material weaknesses in the Company’s internal control over financial reporting, management is enhancing its risk assessment to identify changes in our business that could impact the system of internal controls and are in the process of
BALLY’S CORPORATION
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (unaudited)
−Removed: In response to the material weaknesses in the Company’s internal control over financial reporting, management is enhancing its risk assessment to identify changes in our business that could impact the system of internal controls and are in the process of designing control activities related to the monitoring of foreign currency and the application of ASC 830.
+Added: designing control activities related to the monitoring of foreign currency and the application of ASC 830.
The Company will continue to work towards full remediation of the material weaknesses to improve its internal control over financial reporting.
−Removed: BALLY’S CORPORATION
−Removed: NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (unaudited)
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.