Item 4. Controls and Procedures
Item
4. Controls and Procedures.
Disclosure controls and procedures are controls and other procedures
that are designed to ensure that information required to be disclosed in our reports filed or submitted under the Exchange Act is recorded,
processed, summarized and reported within the time periods specified in the SEC’s rules and forms. Disclosure controls and procedures
include, without limitation, controls and procedures designed to ensure that information required to be disclosed in our reports filed
or submitted under the Exchange Act is accumulated and communicated to our management, including its principal executive officer and principal
financial officer or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.
Evaluation
of Disclosure Controls and Procedures
As required by Rules 13a-15f and 15d-15
under the Exchange Act, our principal executive officer and principal financial officer carried out an evaluation of the
effectiveness of the design and operation of our disclosure controls and procedures as of September 30, 2023. Based upon their
evaluation, our principal executive officer and principal financial officer concluded that our disclosure controls and procedures
(as defined in Rules 13a-15 (e) and 15d-15 (e) under the Exchange Act) were not effective as of September 30, 2023, due to the
material weaknesses in our internal control over financial reporting related to the Company’s accounting for complex financial
instruments and prepaid expenses. As a result, we performed additional analysis as deemed necessary to ensure that our financial statements
were prepared in accordance with the U.S. generally accepted accounting principles. Accordingly, management believes that the
financial statements included in this Quarterly Report present fairly in all material respects our financial position, results of
operations and cash flows for the period presented.
Changes
in Internal Control over Financial Reporting
There
were no changes in our internal controls over financial reporting that occurred during the third quarter of the fiscal year covered
by this Quarterly Report on Form 10-Q that have materially affected, or are reasonably likely to materially affect, our internal
control over financial reporting.
30
PART II
- OTHER INFORMATION
Item
1. Legal Proceedings.
None.
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.