Item 1B. Unresolved Staff Comments
Item 1B. Unresolved Staff Comments
Not applicable.
Item 1C. Cybersecurity
Risk Management and Strategy
The Company has established processes to assess,
identify, and manage risks from cybersecurity threats as part of our broader enterprise-wide risk management system and processes, which
is overseen by our Board through our Audit Committee, along with our executive management.
Our cybersecurity program focuses on all areas
of our business, including cloud-based environments, devices used by employees and contractors, facilities, networks, applications, vendors,
disaster recovery, business continuity and controls and safeguards enabled through business processes and tools. We continuously monitor
for unauthorized access to our information technology systems and identify potential security threats through various automated detection
solutions. To protect the security of our information infrastructure and protect our systems and information from unauthorized access,
we draw on the knowledge and insights of an external information technology consultant who acts as our primary IT administrator and employ
an array of third-party tools and technologies. As part of its oversight, the Audit Committee also oversees and identifies risks from
cybersecurity threats associated with our use of an external information technology consultant, as well cybersecurity threats posed by
our engagement of other similar third-party providers.
As of the date of this Annual Report, we have
not encountered any risks from cybersecurity threats that have materially affected or are reasonably likely to materially affect the
Company, including its business strategy, results of operations, or financial condition. For more information on our cybersecurity related
risks, see “ Risk Factors - Risks Related to Our Business and Our Industry” included elsewhere in this Annual Report
on Form 10-K.
Governance
The Board is responsible for overseeing our enterprise
risk management program. The Audit Committee of the Board has been designated by the Board to oversee cybersecurity risks and our processes
to identify, prioritize, assess, manage, and mitigate those risks. The Audit Committee receives updates on cybersecurity and information
technology matters and related risk exposures from our Chief Financial Officer.
The Chief Financial Officer oversees the operation
of our cybersecurity program and has over 10 years of executive experience overseeing risk management and internal controls. The Chief
Financial Officer is informed about and monitors the prevention, detection, mitigation, and remediation of cybersecurity incidents through
the Chief Financial Officer’s oversight of the Company’s information technology function and supervision of the Company’s
IT administrator.
Item 2. Properties
We lease our offices at 11 Commerce Drive, First
Floor, Cranford, New Jersey 07016. The lease runs until February 28, 2030.