Controls and Procedures.
−Removed: An evaluation was conducted by our chief executive officer (CEO) and chief financial officer (CFO) of the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended) as of June 30, 2020.
−Removed: Based on that evaluation, the CEO and CFO concluded that a change in our controls and procedures is needed to ensure that information required to be disclosed in the reports that we file or submit under the Securities Exchange Act of 1934 (i) is recorded, processed, summarized, and reported within the time periods specified in Securities and Exchange Commission rules and forms, and (ii) is accumulated and communicated to our management, including our CEO and CFO, as appropriate to allow timely decisions regarding required disclosures.
−Removed: Management is aware that there is a lack of segregation of duties due to the small number of employees dealing with general administrative and financial matters.
−Removed: Management is preparing a travel and entertainment policy that provides for approval of these expenses by independent parties, as required in the SEC rules cited above.
−Removed: The CEO's travel and other expenses will be approved by the Chairman of the Board.
−Removed: For all other employees, the CEO and CFO will approve those expenses.
−Removed: Therefore, we will have adequate controls and segregation of duties over the approval of all expenses reimbursed to employees and consultants as required by the SEC regulation.
+Added: An evaluation was conducted by the registrant's Chief Executive Officer (CEO) and Chief Financial Officer (CFO) of the effectiveness of the design and operation of the registrant's disclosure controls and procedures as of December 31, 2020.
+Added: Based on that evaluation, the CEO and CFO concluded that the registrant's controls and procedures were effective as of such date to ensure that information required to be disclosed in the reports that the registrant files or submits under the Securities Exchange Act of 1934 is recorded, processed, summarized and reported within the time periods specified in Securities and Exchange Commission rules and forms.
Change in Internal Controls over Financial Reporting
2 unchanged sentences
Legal Proceedings
−Removed: There have been no material developments during the quarter ended June 30, 2020 in any material legal proceedings to which we are a party or of which any of our property is subject.
+Added: Cleartronic is not engaged in any litigation at the present time and management is unaware of any claims or complaints that could result in future litigation.
+Added: Management will seek to minimize disputes with the Company's customers but recognizes the inevitability of legal action in today's business environment as an unfortunate price of conducting business.
Unregistered Sales of Equity Securities and Use of Proceeds.
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.