5 unchanged sentences
A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of a company’s annual or interim financial statements will not be prevented or detected on a timely basis.
−Removed: The Company’s Chief Executive Officer and Chief Financial Officer concluded that the Company’s disclosure controls and procedures were not effective as of June 30, 2024.
+Added: The Company’s Chief Executive Officer and Chief Financial Officer concluded that the Company’s disclosure controls and procedures were not effective as of September 30, 2024.
The Company did not design and maintain effective disclosure controls and procedures because of the following material weaknesses in internal control over financial reporting:
10 unchanged sentences
In response to the material weaknesses discussed above, we plan to continue efforts already underway to remediate internal control over financial reporting, including the following:
−Removed: We have engaged with a third-party resource to support our internal control testing and remediation efforts, and we intend to bring in additional resources to oversee remediation efforts.
+Added: We engaged with a third-party resource to support our internal control testing and remediation efforts.
We have hired an Internal Auditor, a senior level position.
−Removed: We are in the process of conducting a risk assessment over our internal control environment, and we are reviewing and prioritizing individual control deficiencies for remediation, including those which aggregated to the above material weaknesses.
+Added: We conducted a risk assessment over our internal control environment, and we prioritized individual control deficiencies for remediation, including those which aggregated to the above material weaknesses.
We are in the process of documenting and executing remediation action items, including expansion of mitigating controls where appropriate.
−Removed: We are exploring tools to enhance and centralize general information technology components.
+Added: We are implementing tools to enhance and centralize general information technology components.
Management and our Audit Committee will monitor these specific remedial measures and the effectiveness of our overall control environment.
2 unchanged sentences
Changes in Internal Control over Financial Reporting
−Removed: Management of the Company has evaluated, with the participation of the Company’s Chief Executive Officer and Chief Financial Officer, changes in the Company’s internal controls over financial reporting (as defined in Rule 13a-15(f) and 15d-15(f) of the Exchange Act) during the second quarter of 2024.
+Added: Management of the Company has evaluated, under the supervision of and with the participation of the Company’s Chief Executive Officer and Chief Financial Officer, changes in the Company’s internal controls over financial reporting (as defined in Rule 13a-15(f) and 15d-15(f) of the Exchange Act) during the third quarter of 2024.
There have been no changes to the Company’s internal control over financial reporting that occurred since the beginning of the Company’s first quarter of 2024 that have materially affected, or are reasonably likely to materially affect, the Company’s internal control over financial reporting.
2 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.