Item 4. Controls and Procedures
Item 4. Controls and Procedures .
Evaluation of Disclosure
Controls and Procedures
As of the end of the period
covered by this Quarterly Report on Form 10-Q, we carried out an evaluation, under the supervision and with the participation of our management,
including our principal executive officer and principal financial officer, of the effectiveness of the design and operation of our disclosure
controls and procedures (as defined in the Exchange Act Rules 13a-15(e)) (the “Exchange Act”). Based on the foregoing evaluation,
our principal executive officer and principal financial officer concluded that, as of March 31, 2025, our disclosure controls and procedures
were effective.
Disclosure controls and procedures
are designed to ensure that information required to be disclosed in the Company’s reports filed or submitted under the Exchange
Act is recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms. Disclosure controls
and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed in its
reports filed under the Exchange Act is accumulated and communicated to management, including the Company’s principal executive
officer and principal financial officer, as appropriate, to allow timely decisions regarding required disclosure.
Management’s Report
on Internal Control Over Financial Reporting
Our management, including
our principal executive officer and principal financial officer, is responsible for establishing and maintaining adequate internal control
over financial reporting (as defined in Rules 13a-15(f) under the Exchange Act). Internal control over financial reporting is a process
designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements
for external purposes in accordance with U.S. GAAP. Our internal control over financial reporting includes those policies and procedures
that: (i) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions
of our assets; (ii) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements
in accordance with U.S. GAAP, and that our receipts and expenditures are being made only in accordance with authorizations of our management
and directors; and (iii) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition
of our assets that could have a material effect on the financial statements.
Under the supervision and
with the participation of our management, including our principal executive officer and principal financial officer, we conducted an evaluation
of the effectiveness of our internal control over financial reporting as of March 31, 2025, based on the Internal Control-Integrated Framework
(2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) (2013 Framework). Based on this evaluation,
our principal executive officer and principal financial officer have concluded that our internal controls over financial reporting as
of March 31, 2025, were effective.
Changes in Internal Control
Over Financial Reporting
There were no changes in
internal controls over financial reporting during the three months ended March 31, 2025.
Inherent Limitations of
the Effectiveness of Controls
Management does not expect
that our disclosure controls and procedures or our internal control over financial reporting will prevent or detect all error and fraud.
A control system, no matter how well designed and operated, is based upon certain assumptions and can provide only reasonable, not absolute,
assurance that its objectives will be met. Further, no evaluation of controls can provide absolute assurance that misstatements due to
error or fraud will not occur or that all control issues and instances of fraud, if any, within the Company have been detected.
24
PART II - OTHER INFORMATION
ITEM 1.
LEGAL PROCEEDINGS
We are not currently
a party to any lawsuit or proceeding which, in the opinion of management, is likely to have a material adverse effect on us or our business.
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.