What changed in this filing

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Item 4. Controls and Procedures

2022-05-16 compared with 2021-11-15 · 30 added, 18 removed, 23 unchanged (68% of the section changed)

13 unchanged sentences

of achieving the desired control objectives.

the supervision and with the participation of our management, including our principal executive officer, who is also our principal financial

officer, we are required to perform an evaluation of our disclosure controls and procedures, as such term is defined in Rule 13a-15(e)

under the Exchange Act, as of September 30, 2021.

Management has not completed such evaluation and, as such, has concluded that our disclosure

controls and procedures were not effective to provide reasonable assurance that information required to be disclosed by us in reports

we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the SEC’s

rules and forms, and is accumulated and communicated to our management, including our principal executive officer, who is also our principal

financial officer, as appropriate to allow timely decisions regarding required disclosures.

As a result of the material weakness in internal

controls over financial reporting described below, we concluded that our disclosure controls and procedures as of September 30, 2021

were not effective.

the supervision and with the participation of our management, including our principal executive officer and our principal financial officer,

we are required to perform an evaluation of our disclosure controls and procedures, as such term is defined in Rule 13a-15(e) under the

Exchange Act, as of March 31, 2022.

Management has not completed such evaluation and, as such, has concluded that our disclosure controls

and procedures were not effective to provide reasonable assurance that information required to be disclosed by us in reports we file

or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the SEC’s

rules and forms, and is accumulated and communicated to our management, including our principal executive officer and our principal financial

officer, as appropriate to allow timely decisions regarding required disclosures.

As a result of the material weaknesses in internal

control over financial reporting described below, we concluded that our disclosure controls and procedures as of March 31, 2022 were

not effective.

Weaknesses in Internal Control over Financial Reporting

assessed the effectiveness of the Company’s internal control over financial reporting as of September 30, 2021 based on the framework

assessed the effectiveness of the Company’s internal control over financial reporting as of March 31, 2022 based on the framework

established in Internal Control—Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway

Based on this assessment, management has determined that the Company’s internal control over financial reporting as

of September 30, 2021 was not effective.

of March 31, 2022 was not effective.

material weakness, as defined in the standards established by the Sarbanes-Oxley, is a deficiency, or a combination of deficiencies,

in internal control over financial reporting such that there is a reasonable possibility that a material misstatement of our annual or

interim unaudited condensed consolidated financial statements will not be prevented or detected on a timely basis.

interim consolidated financial statements will not be prevented or detected on a timely basis.

ineffectiveness of the Company’s internal control over financial reporting was due to the following material weaknesses:

segregation of duties due to limited personnel consistent with control objectives;

to formal policies and procedures post-bankruptcy;

of risk assessment procedures on internal controls to detect financial reporting risks on a timely manner.

of adherence to formal policies and procedures post-bankruptcy;

of risk assessment procedures on internal controls to detect financial reporting risks in a timely manner;

of sufficient formal procedures and controls to achieve complete and accurate financial reporting and disclosures, including controls

over the preparation and review of journal entries and account reconciliations.

Plan to Remediate the Material Weaknesses

has been implementing and continues to implement measures designed to ensure that control deficiencies contributing to the material weakness

are remediated, such that these controls are designed, implemented, and operating effectively.

The remediation actions include:

management personnel, including our new Chief Financial Officer, who is overseeing the financial reporting process and implementation

of enhanced controls and governance;

of external financial consulting firm to continue to enhance financial reporting, financial operations and internal controls;

Documentation

of key procedures and controls using a risk-based approach.

will continue to monitor and evaluate the effectiveness of our internal controls and procedures over financial reporting on an ongoing

basis and is committed to taking further action and implementing additional enhancements or improvements, as necessary and as funds allow.

in Internal Control Over Financial Reporting

than described above there have been no changes in our internal control over financial reporting that occurred during our third quarter

than described above there have been no changes in our internal control over financial reporting that occurred during our first quarter

of 2022 that have materially affected, or that are reasonably likely to materially affect, our internal control over financial reporting.

1 unchanged sentence

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.

What changed 10-Q

Item 4. Controls and Procedures