Item 4. Controls and Procedures
ITEM
4. CONTROLS AND PROCEDURES
Evaluation
of Disclosure Controls and Procedures
We
maintain disclosure controls and procedures that are designed to ensure that information required to be disclosed in the reports that
we file or submit under the Exchange Act is (1) recorded, processed, summarized, and reported within the time periods specified in the
SEC’s rules and forms and (2) accumulated and communicated to our management, including our Chief Executive Officer, as our principal
executive officer, and Chief Financial Officer, as our principal financial officer, to allow timely decisions regarding required disclosure.
In
connection with the preparation of the Quarterly Report on Form 10-Q for the quarter ended June 30, 2023, our management, with the participation
of our Chief Executive Officer and Chief Financial Officer, evaluated the effectiveness of our disclosure controls and procedures (as
defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act). Our management recognizes that any controls and procedures, no matter
how well designed and operated, can provide only reasonable assurance of achieving their objectives, and management necessarily applies
its judgment in evaluating the cost-benefit relationship of possible controls and procedures. Based upon the evaluation described above,
our Chief Executive Officer and our Chief Financial Officer concluded that, due to the material weaknesses previously reported in our
2022 Annual Report that have not yet been remediated, our disclosure controls and procedures were not effective as of June 30, 2023.
Changes
in Internal Control over Financial Reporting
Management
described a plan to remediate the material weaknesses within our 2022 Annual Report. Management, with the assistance of a third-party service provider, continues to design and implement internal controls.
Additionally, management continued its risk assessment to identify risks and objectives. There were no other changes in our internal controls
over financial reporting that occurred during the quarter ended June 30, 2023 that materially affected, or are reasonably likely to
materially affect, our internal control over financial reporting. Management will continue to evaluate and enhance our processes as
noted in the remediation plan described within our 2022 Annual Report. The elements of our remediation plan can only be accomplished
over time, and we can offer no assurance that these will ultimately have the intended effects.
PART
II - OTHER INFORMATION
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