What changed in this filing

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Item 4. Controls and Procedures

2021-05-17 compared with 2020-11-16 · 23 added, 20 removed, 7 unchanged (86% of the section changed)

1 unchanged sentence

of Disclosure Controls and Procedures

maintain disclosure controls and procedures (as that term is defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange

Act of 1934, as amended (the “Exchange Act”)) that are designed to ensure that information required to be disclosed

in our reports under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the

SEC’s rules and forms, and that such information is accumulated and communicated to our management, including our principal

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

designing disclosure controls and procedures, our management necessarily was required to apply its judgment in evaluating the

cost-benefit relationship of possible disclosure controls and procedures.

The design of any disclosure controls and procedures

also is based in part upon certain assumptions about the likelihood of future events, and there can be no assurance that any design

will succeed in achieving its stated goals under all potential future conditions.

Any controls and procedures, no matter how well

designed and operated, can provide only reasonable, not absolute, assurance of achieving the desired control objectives.

maintain disclosure controls and procedures (as that term is defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act

of 1934, as amended (the “Exchange Act”)) that are designed to ensure that information required to be disclosed in our reports

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

forms, and that such information 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.

In designing disclosure

controls and procedures, our management necessarily was required to apply its judgment in evaluating the cost-benefit relationship of

possible disclosure controls and procedures.

The design of any disclosure controls and procedures also is based in part upon certain

assumptions about the likelihood of future events, and there can be no assurance that any design will succeed in achieving its stated

goals under all potential future conditions.

Any controls and procedures, no matter how well designed and operated, can provide only

reasonable, not absolute, assurance of achieving the desired control objectives.

management, with the participation of our principal executive officer and principal financial officer, has evaluated the effectiveness

of the design and operation of our disclosure controls and procedures as of the end of the period covered by this report.

upon that evaluation and subject to the foregoing, our principal executive officer and principal financial officer concluded that

our disclosure controls and procedures were not effective due to the material weakness(es) in internal control over financial

reporting disclosed in our annual report on Form 10-K for the fiscal year ended December 31, 2019.

management will continue to monitor and evaluate the relevance of our risk-based approach and 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.

that evaluation and subject to the foregoing, our principal executive officer and principal financial officer concluded that our disclosure

controls and procedures were not effective due to the material weakness(es) in internal control over financial reporting disclosed in

our annual report on Form 10-K for the fiscal year ended December 31, 2020.

management will continue to monitor and evaluate the relevance of our risk-based approach and 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

the quarter ended March 31, 2021, we hired additional finance and accounting staff that has positively impacted or segregation of duties.

In addition, during the quarter ended March 31, 2021, we established an audit committee.

have been no changes in our internal control over financial reporting (as defined in Rule 13a-15(f) and 15d-15(f) under the Exchange

Act) during the quarter ended September 30, 2020 that have materially affected, or that are reasonably likely to materially

affect, our internal control over financial reporting.

Act) during the quarter ended March 31, 2021, other than those noted above, that have materially affected, or that are reasonably

likely to materially affect, our internal control over financial reporting.

OTHER INFORMATION

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