DAILY JOURNAL CORP 10-Q

Item 4. CONTROLS AND PROCEDURES In light of the material weaknesses in the Company’s internal control over financial reporting discussed in the Company’s Form 10-K for the fiscal year ended September 30, 2024, management concluded that the Company’s disclosure controls and procedures were not effective as of March 31, 2025. There were no material changes in the Company’s internal control over financial reporting or in other factors reasonably likely to affect its internal control over financial reporting during the quarter ended March 31, 2025. Management identified that it did not effectively design, implement, or operate certain controls around revenue recognition and associated accounts of deferred revenue. Specifically, there were not sufficient controls to ensure the accurate timing of recognition of revenue associated with certain contracts. Management concluded that this material weakness resulted primarily from the Company's ineffective risk assessment and did not have a sufficient number of accounting personnel that are responsible for the design, operation, and documentation of internal control over financial reporting in the revenue process. The Company is in the process of migrating to a new accounting system as part of its effort to improve its internal controls generally and to remediate the material weaknesses in its internal control over financial reporting. 26 PART II Item 6. Exhibits 31 Certifications by Chief Executive Officer and Chief Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. 32 Certifications by Chief Executive Officer and Chief Financial Officer Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. 101.INS Inline XBRL Instance 101.SCH Inline XBRL Taxonomy Extension Schema 101.CAL Inline XBRL Taxonomy Extension Calculation 101.DEF Inline XBRL Taxonomy Extension Definition 101.LAB Inline XBRL Taxonomy Extension Labels 101.PRE Inline XBRL Taxonomy Extension Presentation 104 Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. DAILY JOURNAL CORPORATION (Registrant) /s/ Steven Myhill-Jones Chief Executive Officer Chairman of the Board (Principal Executive Officer) /s/ Tu To Chief Financial Officer (Principal Financial Officer and Principal Accounting Officer) DATE: May 20, 2025 27