1 unchanged sentence
Evaluation of Disclosure Controls and Procedures
−Removed: Under the supervision and with the participation of our management, including our Chief Executive Officer and Chief Financial Officer, we conducted an evaluation of the effectiveness of our internal control over financial reporting as of March 31, 2024 based on the guidelines established in the "Internal Control—Integrated Framework" (2013 framework) issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO).
−Removed: Based on its assessment, management concluded that the Company's internal control over financial reporting was not effective as of March 31, 2024 due to a material weakness in our internal control over financial reporting.
−Removed: 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 our annual or interim consolidated financial statements will not be prevented or detected on a timely basis.
−Removed: The Company did not design and maintain effective controls to periodically reassess whether nexus was achieved in the states we do business.
−Removed: This caused us not to be able to collect sales tax from our customers and subsequently remitting those sales tax to the appropriate state tax agency.
−Removed: During our assessment in 2023, it was determined that we had prior period sales tax obligations on certain states, in which we failed to collect and remit the sales tax.
−Removed: Remediation of Material Weakness existing as of March 31, 2024
+Added: Under the supervision and with the participation of our management, including our Principal Executive Officer and Principal Financial Officer, we conducted an evaluation of the effectiveness of our internal control over financial reporting as of June 30, 2024 based on the guidelines established in the "Internal Control—Integrated Framework" (2013 framework) issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO).
+Added: We maintain disclosure controls and procedures as defined in Rules 13a-15(e) and 15d-15(e) of the Exchange Act that are designed to ensure that information required to be disclosed in our reports filed or submitted to the SEC under the Exchange Act is recorded, processed, summarized and reported within the time periods specified by the SEC’s rules and forms, and that information is accumulated and communicated to management, including the principal executive and financial officer as appropriate, to allow timely decisions regarding required disclosures.
+Added: Based on its assessment, management concluded that the Company's internal control over financial reporting was not effective as of June 30, 2024 due to a material weakness described in our 2023 Annual Report on Form 10-K, as filed with the SEC on April 1, 2024.
+Added: Notwithstanding the existence of the material weakness, we believe that the unaudited condensed consolidated financial statements included in this Quarterly Report on Form 10-Q fairly present in accordance with the GAAP, in all material respects, our financial condition, results of operations and cash flows for the periods presented in this report.
+Added: Remediation of Material Weakness existing as of June 30, 2024
Management, under the guidance of the Audit Committee, is committed to developing and implementing a comprehensive remediation plan.
3 unchanged sentences
The material weakness will be considered remediated when management concludes that, through testing, the applicable remedial controls are operating effectively.
+Added: Limitations on Effectiveness of Controls.
+Added: A control system, no matter how well conceived and operated, can provide only reasonable, not absolute, assurance that the objectives of the control system are met.
+Added: Because of the inherent limitations in all controls systems, no evaluation of controls can provide absolute assurance that all control issues and instances of fraud, if any, within a company have been detected.
+Added: Our disclosure controls and procedures are designed to provide reasonable assurance of achieving its objectives.
Changes in Internal Control over Financial Reporting
−Removed: Other than described above under "Remediation of Material Weakness existing as of March 31, 2024", there have been no changes in our internal control over financial reporting (as defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act) that occurred during the quarter ended March 31, 2024 that has materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.
+Added: Other than described above under "Remediation of Material Weakness existing as of June 30, 2024", there have been no changes in our internal control over financial reporting (as defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act) that occurred during the quarter ended June 30, 2024 that has materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.
Part II - Other Information
−Removed: LEGAL PROCEEDINGS
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.