1 unchanged sentence
Management’s Evaluation of our Disclosure Controls and Procedures
−Removed: Our Chief Executive Officer and Chief Financial Officer evaluated the effectiveness of our disclosure controls and procedures (as defined in Rules 13a-15(e) or 15d-15(e)) of the Exchange Act as of March 31, 2026.
+Added: Our Chief Executive Officer and Chief Financial Officer evaluated the effectiveness of our disclosure controls and procedures (as defined in Rules 13a-15(e) or 15d-15(e)) of the Exchange Act as of June 30, 2026.
We maintain disclosure controls and procedures that are designed to ensure that information required to be disclosed in its periodic and current reports that we file with the SEC 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 principal executive officer and principal financial officer, as appropriate, to allow timely decisions regarding required disclosure.
4 unchanged sentences
Because of the inherent limitations in a cost-effective control system, misstatements due to error or fraud may occur and not be detected.
−Removed: Based upon their evaluation, our Chief Executive Officer and the Chief Financial Officer concluded that our disclosure controls and procedures were not effective as of March 31, 2026 due to the material weakness described in our Annual Report and updated below.
+Added: Based upon their evaluation, our Chief Executive Officer and the Chief Financial Officer concluded that our disclosure controls and procedures were not effective as of June 30, 2026 due to the material weakness described in our Annual Report and updated below.
In the course of preparing our financial statements for the Annual Report, management identified a material weakness related to the inherent limitations of the accounting software used to prepare our financial statements and the limited number of accounting personnel we employ.
As a result of these limitations and our limited number of accounting personnel, we previously determined that we had insufficient segregation of duties over the initiation, approval and recording of certain financial transactions.
−Removed: In response and during the quarter ended March 31, 2026, we implemented multiple compensating controls to mitigate these limitations.
−Removed: Subsequent to March 31, 2026, management initiated a redesign of the control environment to address the inherent limitations previously identified in connection with our accounting software, including enhancements to monitoring and review procedures and the reassignment of responsibilities to strengthen segregation of duties across the initiation, approval and recording of transactions.
+Added: In response and during the quarter ended June 30, 2026, we implemented multiple compensating controls to mitigate these limitations.
+Added: During the quarter ended June 30, 2026, management completed a redesign of the control environment to address the inherent limitations previously identified in connection with our accounting software, including enhancements to monitoring and review procedures and the reassignment of responsibilities to strengthen segregation of duties across the initiation, approval and recording of
+Added: transactions.
In light of these actions, management does not currently expect to hire the additional accounting personnel as previously contemplated in our Annual Report in order to remediate the identified material weakness.
2 unchanged sentences
Changes in Internal Control over Financial Reporting
−Removed: As noted above, we have implemented certain measures to remediate the material weakness identified in the design and operation of our internal controls over financial reporting.
−Removed: During the quarter ended March 31, 2026, there were no changes in our internal control over financial reporting (as defined in Rules 13a-15(f) and 15d-15(f) of the Exchange Act) other than those noted above that occurred during the fiscal quarter covered by this report that have materially affected or are reasonably likely to materially affect our internal control over financial reporting.
−Removed: However, subsequent to March 31, 2026, we initiated the redesign actions described above which we believe are reasonably likely to materially affect, our internal control over financial reporting on a prospective basis.
−Removed: As noted above, these newly implemented controls must operate for a sufficient period of time for our previously identified material weakness to be remediated.
+Added: As noted above, during the quarter ended June 30, 2026, we implemented certain measures to remediate the material weakness identified in the design and operation of our internal controls over financial reporting.
+Added: During the quarter ended June 30, 2026, there were no changes in our internal control over financial reporting (as defined in Rules 13a-15(f) and 15d-15(f) of the Exchange Act) other than those noted above that occurred during the fiscal quarter covered by this report that have materially affected or are reasonably likely to materially affect our internal control over financial reporting.
Limitations of Effectiveness of Control
8 unchanged sentences
We are not currently a party to any material legal proceedings, and we are not aware of any pending or threatened legal proceeding against us that we believe could have an adverse effect on our business, operating results or financial condition.
−Removed: Risk Factors.
−Removed: There have been no material changes from the risk factors previously disclosed in the Annual Report.
−Removed: Unregistered Sales of Equity Securities and Use of Proceeds.
−Removed: Unregistered Sales of Equity Securities and Use of Proceeds
−Removed: Issuer Purchases of Equity Securities
−Removed: Defaults Upon Senior Securities.
−Removed: Mine Safety Disclosures.
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.