Item 4. Controls and Procedures
Item 4. Controls and Procedures
Disclosure Controls and Procedures
Our management, with the participation of our
Chief Executive Officer and Chief Financial Officer, our principal executive officer and principal financial officer, respectively, evaluated
the effectiveness of our disclosure controls and procedures as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act, as of
the end of the period covered by this report. Disclosure controls and procedures include, without limitation, controls and procedures
designed to provide reasonable assurance that information we are required to disclose in reports that we file or submit under the Exchange
Act is recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms, and that such
information is accumulated and communicated to our management, including our Chief Executive Officer and Chief Financial Officer, as appropriate,
to allow timely decisions regarding required disclosure. Based on this evaluation, our Chief Executive Officer and Chief Financial Officer
concluded that, as of September 30, 2023, our disclosure controls and procedures were not effective due to a material weakness in our
internal control over financial reporting. Specifically, we currently lack sufficient accounting personnel with the appropriate level
of knowledge, experience and training in U.S. GAAP and SEC reporting requirements.
We have taken, and are taking, certain actions to remediate the material
weakness related to our lack of U.S. GAAP experience. We have engaged an outside consultant with U.S. GAAP knowledge and experience to
supplement our current internal accounting personnel and assist us in the preparation of our financial statements to ensure that our financial
statements are prepared in accordance with U.S. GAAP. We also engaged an internal control consulting firm in July 2023 to review, test
and improve our internal accounting controls and internal control over financial reporting. We are also arranging additional training
of internal control for our employees and management on disclosure controls and procedures. We believe the measures described above will
remediate the material weakness. As we continue to evaluate and work to improve our internal control over financial reporting, we may
determine that additional measures.
Changes to Internal Control over Financial
Reporting
Other than discussed above, there were no changes
in our internal control over financial reporting (as defined in Rule 13a-15(f) and 15d-15(f) of the Exchange Act) that occurred during
the period covered by this report that have materially affected, or are reasonably likely to materially affect, our internal control over
financial reporting.
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PART II. OTHER INFORMATION
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.