Item 1B. Unresolved Staff Comments
ITEM 1B. UNRESOLVED STAFF COMMENTS
None.
10
ITEM 1C. CYBERSECURITY.
Cybersecurity risk management
is an integral part of our overall enterprise risk management program. The Company manages cybersecurity and data protection through a
continuously evolving program. Our cybersecurity risk management program is designed to provide a framework for assessing, identifying
and managing cybersecurity threats and incidents, including threats and incidents associated with the use of services provided by third-party
service providers, and to facilitate coordination across different departments of our Company. Our processes include steps for assessing
the severity of a cybersecurity threat, identifying the source of a cybersecurity threat, including whether the cybersecurity threat is
associated with a third-party service provider, and implementing cybersecurity countermeasures and mitigation strategies and informing
management and the board of directors of material cybersecurity threats and incidents.
The Board of Directors has oversight
for the most significant risks facing us and for our processes to identify, prioritize, assess, manage and mitigate those risks. The Audit
Committee of the Board of Directors (the “Audit Committee”) has been designated to oversee cybersecurity risks. The Audit
Committee receives regular updates on cybersecurity and information technology matters and related risk exposures from our management.
The Board of Directors also receives periodic updates from management and the Audit Committee on cybersecurity risks. Management
is responsible for identifying, considering and assessing material cybersecurity risks on an ongoing basis, establishing processes designed
to ensure that such potential cybersecurity risk exposures are monitored, putting in place mitigation measures and maintaining cybersecurity
programs. Our cybersecurity programs are under the direction of our Chief Executive Officer. Management regularly updates the Audit Committee
on our cybersecurity programs, which includes cybersecurity risks and mitigation strategies, vulnerability management, and on-going cybersecurity
projects.
As of June 30, 2024, we did not
identify any cybersecurity incidents that materially affected or are reasonably likely to materially affect our business strategy, results
of operations, or financial condition. However, despite our efforts, we cannot eliminate all risks from cybersecurity threats, or provide
assurances that we have not experienced an undetected cybersecurity incident. It is possible that we may not implement appropriate controls
if we do not detect a particular risk. In addition, security controls, no matter how well designed or implemented, may only mitigate and
not fully eliminate the risks. Even when a risk is detected, disruptive events may not always be immediately and thoroughly interpreted
and acted upon.