Item 4. Controls and Procedures
Item 4. Controls and Procedures.
Disclosure Controls
and Procedures
The Company’s management,
with the participation of the Company’s Chief Executive Officer and Chief Financial Officer, has evaluated the effectiveness of
the Company’s disclosure controls and procedures (as such term is defined in Rules 13a-15(e) and 15d-15(e) under the Securities
Exchange Act of 1934, as amended (the “Exchange Act”)) as of the end of the period covered by this report (the “Evaluation
Date”). Based on such evaluation, the Company’s Chief Executive Officer and Chief Financial Officer have concluded that, as
of the Evaluation Date, the Company’s disclosure controls and procedures are not effective.
Changes in Internal
Control Over Financial Reporting
There have not been any
changes in the Company’s internal control over financial reporting (as such term is defined in Rules 13a-15(f) and 15d-15(f) under
the Exchange Act) during the quarter ended March 31, 2022, that have materially affected, or are reasonably likely to materially affect,
the Company’s internal control over financial reporting. However, throughout 2021 and into 2022, the Company continues the complete
review of all of its financial procedures and controls and is continuing the process of updating and optimizing its infrastructure around
these controls. Over the past year, the Company has hired additional finance and accounting personnel, significantly improving the segregation
of duties within that department and providing additional bandwidth for management to focus on improving controls and procedures. This
review is ongoing, and the Company believes that this process will continue to positively affect our internal control over financial reporting
in the future.
41
PART II - OTHER INFORMATION
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.