Item 4. Controls and Procedures
Item
4 . Controls and Procedures.
Evaluation
of Disclosure Controls and Procedures
Under
the supervision and with the participation of our management, including our Chief Executive Officer and our Chief Accounting Officer,
we conducted an evaluation of our disclosure controls and procedures, as such term is defined under Securities and Exchange Act
of 1934 Rules 13a-15(f). Disclosure controls and procedures are designed to provide reasonable assurance that the information
required to be disclosed in the reports that we file or submit under the Exchange Act has been appropriately recorded, processed,
summarized and reported on a timely basis and are effective in ensuring that such information is accumulated and communicated
to the Company’s management including our CEO and our CFO, as appropriate to allow timely decisions regarding required disclosure.
Based on this evaluation, our Chief Executive Officer and our Chief Accounting Officer concluded that as of September 30, 2020,
our disclosure controls and procedures are not effective.
Management
has identified the following material weaknesses in our internal control over financial reporting:
Inadequate
Segregation of Duties: We have an inadequate number of personnel to properly implement internal controls over financial reporting.
Since
the assessment of the effectiveness of our internal control over financial reporting did identify material weaknesses, management
considers its internal control over financial reporting to be ineffective.
Management
believes that the material weakness set forth above did not have an effect on our financial results.
Changes
in Internal Control over Financial Reporting
There
have been no changes in the Company’s internal control over financial reporting during the nine months ended September 30,
2020 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.
24
PART
II-OTHER INFORMATION
Item
1. Legal Proceedings.
Neither
the Company nor its subsidiaries are party to or have property that is the subject of any material pending legal proceedings.
We may be subject to ordinary legal proceedings incidental to our business from time to time that are not required to be disclosed
under this Item 1.
Item
1A. Risk Factors.
Not
required because we are a smaller reporting company.
Item
2. Unregistered Sales of Equity Securities and Use of Proceeds
The
Company did not issue or sell any other unregistered equity securities during the period covered by this report that were not
previously reported on a Current Report on Form 8-K.
Item
3. Defaults Upon Senior Securities.
None.
Item
4. Mine Safety Disclosures.
Not
applicable.
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.