What changed in this filing

/stocks — the workspaceLOADING

Item 4. Controls and Procedures

2023-10-13 compared with 2023-07-14 · 35 added, 32 removed, 42 unchanged (61% of the section changed)

2 unchanged sentences

management, with the participation of our Chief Executive Officer and Chief Financial Officer, evaluated the effectiveness of our disclosure

controls and procedures (as such term is defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act), as of May 31, 2023.

Our disclosure

controls and procedures are designed to ensure that information required to be disclosed by us in reports that we file or submit under

the Exchange Act is (1) recorded, processed, summarized and reported within the time periods specified in the SECs rules and forms,

and (2) accumulated and communicated to our management, including our Chief Executive Officer and Chief Financial Officer, as appropriate

to allow timely decisions regarding required disclosure.

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.

on such evaluation of our disclosure controls and procedures as of May 31, 2023, our Chief Executive Officer and Chief Financial Officer

controls and procedures (as such term is defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act), as of August 31, 2023.

disclosure controls and procedures are designed to ensure that information required to be disclosed by us in reports that we file or

submit under the Exchange Act is (1) recorded, processed, summarized, and reported within the time periods specified in the SECs

rules and forms, and (2) accumulated and communicated to our management, including our Chief Executive Officer and Chief Financial Officer,

as appropriate to allow timely decisions regarding required disclosure.

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.

on such evaluation of our disclosure controls and procedures as of August 31, 2023, our Chief Executive Officer and Chief Financial Officer

concluded that due to the existence of material weaknesses in our internal controls over financial reporting, as discussed in more detail

below, our disclosure controls and procedures were not completely effective as of May 31, 2023.

Management has continued to monitor the

implementation of the remediation plan described below.

below, our disclosure controls and procedures were not completely effective as of August 31, 2023.

Management has continued to monitor

the implementation of the remediation plan described below.

quarterly report on internal control over financial reporting

13 unchanged sentences

Our management assessed the

effectiveness of the Companys internal control over financial reporting as of May 31, 2023 in accordance with the framework in Internal

Control - Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (the COSO

Framework ).

As a quickly growing development-stage company with limited resources, management is in the process of building

the necessary infrastructure of controls, following the COSO Framework, to ensure that more stringent policies and procedures will be

in place in the near future.

However, based on our current review, management concluded that, during the period covered by this report,

material weaknesses in ICFR as follows:

did not have written documentation of our internal control policies and procedures.

Written documentation of key internal controls

over financial reporting is a requirement of Section 404 of the Sarbanes-Oxley Act, which is applicable to us as a reporting company;

effectiveness of the Companys internal control over financial reporting as of August 31, 2023 in accordance with the framework

in Internal Control - Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission

(the COSO Framework ).

As a quickly growing development-stage company with limited resources, management is in the

process of building the necessary infrastructure of controls, following the COSO Framework, to ensure that more stringent policies and

procedures will be in place in the near future.

However, based on our current review, management concluded that, during the period covered

by this report, there were material weaknesses in ICFR as follows:

we maintain foundational documentation of our internal control policies and procedures, we recognize the importance of aligning fully

with the requirements of Section 404 of the Sarbanes-Oxley Act.

As a reporting company, we are currently refining our documentation

to further strengthen our internal controls over financial reporting, aiming to ensure they meet the highest standards and governance

expectations.;

have limited segregation of duties and oversight of work performed as well as lack of compensating controls in the Companys

10 unchanged sentences

Notwithstanding

the assessment that our ICFR was not effective as of May 31, 2023 and that there are material weaknesses as identified herein, we believe

that our consolidated financial statements contained in this Quarterly Report fairly present our financial position, results of operations

and cash flows for the period covered thereby in all material respects.

We are committed to continuing to improve our internal control

processes and we are undertaking measures to remediate the material weaknesses we have identified and generally strengthen our internal

control over financial reporting.

We will also continue to further review, optimize, and enhance our financial reporting controls and

the assessment that our ICFR was not effective as of August 31, 2023 and that there are material weaknesses as identified herein, we

believe that our consolidated financial statements contained in this Quarterly Report fairly present our financial position, results

of operations and cash flows for the period covered thereby in all material respects.

We are committed to continuing to improve our internal

control processes and we are undertaking measures to remediate the material weaknesses we have identified and generally strengthen our

internal control over financial reporting.

We will also continue to further review, optimize, and enhance our financial reporting controls

and procedures.

These material weaknesses will not be considered remediated until the applicable remediated controls operate for a sufficient

3 unchanged sentences

control over financial reporting (as defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act) that occurred during our fiscal

quarter ended May 31, 2023, that have materially affected, or are reasonably likely to materially affect, our internal control over financial

quarter ended August 31, 2023, that have materially affected, or are reasonably likely to materially affect, our internal control over

financial reporting.

II – OTHER INFORMATION

5 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.

What changed 10-Q

Item 4. Controls and Procedures