2 unchanged sentences
Our management, with the participation of our Chief Executive Officer and our Chief Financial Officer, have evaluated 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) prior to the filing of this quarterly report.
−Removed: Based on that evaluation, our Chief Executive Officer and our Chief Financial Officer have concluded that, as of the end of the period covered by this quarterly report, certain of our disclosure controls and procedures were not effective at the reasonable assurance level as of March 31, 2024, due to the following material weaknesses in internal control over financial reporting.
+Added: Based on that evaluation, our Chief Executive Officer and our Chief Financial Officer have concluded that, as of the end of the period covered by this quarterly report, certain of our disclosure controls and procedures were not effective at the reasonable assurance level as of June 30, 2024, due to the following material weaknesses in internal control over financial reporting.
The Company did not design and implement program change management controls for certain financially relevant systems to ensure that IT program and data changes affecting the Company’s (i) financial IT applications, (ii) digital currency mining equipment, and (iii) underlying accounting records, are identified, tested, authorized and implemented appropriately to validate that data produced by its relevant IT system(s) were complete and accurate.
6 unchanged sentences
Remediation Efforts to Address Disclosed Material Weaknesses
−Removed: Our management, with oversight from our Audit Committee, has taken steps to implement the following remediation actions to address the previously disclosed material weakness and continue to improve our internal control over financial reporting, primarily through:
−Removed: increasing the depth and experience within our accounting and finance organization;
−Removed: enhancing documentation and coordination among our accounting and financial reporting department and expanded cross-functional involvement and input into period-end disclosures;
−Removed: implementing additional internal reporting procedures, including enhancing the analytical procedures used to assess period-end balances, to add depth to our review process and improve our segregation of duties;
−Removed: developing IT general controls to manage access and program changes across our key systems.
−Removed: During the quarter ended March 31, 2024, we continued to assess the design of existing controls and implement new controls as needed to remediate the previously identified material weakness.
−Removed: We have yet to complete the testing and evaluation of the design and operating effectiveness of controls which are actively in process.
+Added: Our management, with oversight from our Audit Committee, continues to make progress in the remediation of the design and implementation of internal controls to address the previously disclosed material weakness and continue to improve our internal control over financial reporting, primarily through:
+Added: increasing the depth, experience and communication within our accounting and finance organization;
+Added: enhancing the design, coordination and documentation of controls over transactions, financial reporting, and inputs into period-end disclosures;
+Added: updating internal reporting procedures, including enhancing the analytical procedures used to assess period-end balances, to add depth to our review process and improve our segregation of duties;
+Added: improving IT application-specific and general controls to manage access and program changes across our key systems.
Limitations on Controls
4 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.