9 unchanged sentences
required disclosure.
−Removed: CEO and our CFO have evaluated the effectiveness of the design and operation of our disclosure controls and procedures as of June 30,
−Removed: Based on their evaluation, our management has concluded that as of June 30, 2022, our disclosure controls and procedures were not
−Removed: effective and there is a material weakness in our internal control over financial reporting.
−Removed: The material weakness relates to the Company
−Removed: lacking sufficient accounting personnel.
−Removed: The shortage of accounting personal resulted in the Company lacking entity level controls around
−Removed: the review of period-end reporting processes, accounting policies and public disclosures.
−Removed: Additionally, the Company’s current processes
−Removed: and systems do not provide for necessary, timely reconciliation of certain accounts and sufficient consideration regarding recoverability
−Removed: of certain assets.
+Added: CEO and our CFO have evaluated the effectiveness of the design and operation of our disclosure controls and procedures as of December
+Added: Based on their evaluation, our management has concluded that as of December 31, 2022, our disclosure controls and procedures
+Added: were not effective and there is a material weakness in our internal control over financial reporting.
+Added: The material weakness relates to
+Added: the Company lacking sufficient accounting personnel.
+Added: The shortage of accounting personnel resulted in the Company lacking entity level
+Added: controls around the review of period-end reporting processes, accounting policies and public disclosures.
+Added: Additionally, the Company’s
+Added: current processes and systems do not provide for necessary, timely reconciliation of certain accounts and sufficient consideration regarding
+Added: recoverability of certain assets.
This deficiency is common in small companies, similar to us, with limited personnel.
Notwithstanding
−Removed: the conclusion by our Chief Executive Officer and Chief Financial Officer that our disclosure controls and procedures as of June 30,
+Added: the conclusion by our Chief Executive Officer and Chief Financial Officer that our disclosure controls and procedures as of December
31, 2022, were not effective, and notwithstanding the material weakness in our internal control over financial reporting described below,
2 unchanged sentences
for the periods ended on such dates, in conformity with GAAP.
−Removed: order to mitigate the material weakness, the Board of Directors has assigned a priority to the short-term and long-term improvement of
−Removed: our internal control over financial reporting.
−Removed: Our Board of Directors will work with management to continuously review controls and procedures
−Removed: to identified deficiencies and implement remediation within our internal controls over financial reporting and our disclosure controls
−Removed: and procedures.
+Added: order to mitigate the material weaknesses, the Company has implemented measures that they believe have mitigated these weaknesses but
+Added: has not had sufficient time to fully evaluate these measures.
+Added: These measures include;
+Added: (i) updating our accounting software to ensure
+Added: tighter control over entries and providing improved data for timely reconciliation of certain accounts, and (ii) engaged a third-party
+Added: accounting firm to provide review of period-end reporting processes, accounting policies and public disclosures.
in Internal Control Over Financial Reporting
1 unchanged sentence
has materially affected, or is reasonably likely to materially affect, the Company’s internal control over financial reporting,
−Removed: the Company is taking steps to improve its internal controls by obtaining additional accounting personnel.
+Added: the Company is continuing to improve its internal controls through the actions mentioned above.
on the Effectiveness of Controls
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.