What changed in this filing

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Item 1B. Unresolved Staff Comments

2025-09-15 compared with 2024-09-27 · 45 added, 49 removed, 3 unchanged (97% of the section changed)

Unresolved Staff Comments

Not Applicable

Cybersecurity

Cyberattacks are a growing geopolitical risk,

becoming larger, more frequent, more intricate and more relentless.

These attacks represent a significant threat to individual organizations

and their ability to conduct daily operations.

We rely on accounting, financial, and operational management information systems to conduct

our operations.

are a growing geopolitical risk, becoming larger, more frequent, more intricate and more relentless.

These attacks represent a significant

threat to individual organizations and their ability to conduct daily operations.

We rely on accounting, financial, and operational management

information systems to conduct our operations.

Any disruption in these systems could adversely affect our ability to conduct our business.

Furthermore, as part of our

normal business activities, we collect and store common confidential information about customers, employees, vendors, and suppliers.

information is entitled to protection under a number of regulatory regimes.

Any failure to maintain the security of the data,

including the penetration of our network security and the misappropriation of confidential and personal information, could result in business

disruption, damage to our reputation, financial obligations to third parties, fines, penalties, regulatory proceedings and private litigation

with potentially large costs.

This scenario may also result in a deterioration of customer confidence in us and potentially other competitive

disadvantages.

As such, a cyberattack could have a material adverse impact on our financial condition and results of operations.

While we devote resources to implement and maintain security measures

to protect our systems and data, these measures cannot provide absolute security against a cyberattack.

In such an event, the insurance

coverage we maintain may be inadequate to cover claims, costs, and liabilities relating to cybersecurity incidents.

While we have not been subject to cyberattacks

and other cyber incidents, we take cybersecurity preparedness seriously.

Our risk management framework considers cybersecurity risk alongside

other company risks as part of our overall risk assessment process.

We have plans to implement cybersecurity training for all employees

upon onboarding, and then annual follow-up training courses to ensure that all employees understand the risk and implications of a cyber

We plan to implement a Cybersecurity Committee which will be responsible

for the day-to-day management of cybersecurity risks, and which will meet bi-monthly to review our practices related to cyber events and

risk management.

The Committee will be composed of the Chief Financial Officer, Chief Legal Officer, Controller, and Head of Human Resources.

The Committee will develop and implement cybersecurity risk mitigation strategies and activities, including the management of comprehensive

incident response plans, oversee the cybersecurity risks posed by third-party vendors, ensure policies and procedures are current and

followed, and receive regular updates on cybersecurity-related matters.

Further, the Committee will engage subject matter experts such

as consultants and auditors to assist us in establishing processes to assess, identify, and manage potential and actual cybersecurity

threats, to actively monitor our systems internally using widely accepted digital applications, processes, and controls, and to provide

forensic assistance to facilitate system recovery in the case of an incident.

The Audit Committee of our Board of Directors oversees our policies

and practices with respect to risk assessment and risk management, including the review, in coordination with our management, of our management

of cybersecurity.

The Audit Committee will receive regular updates from the Cybersecurity Committee on the state of cybersecurity

risks we face.

This will include briefings on any significant cyber incidents and ongoing risk management efforts.

These updates will

enable the Audit Committee to provide informed reports on cybersecurity matters to the full Board.

As of the date of this Annual Report on Form 10-K,

we are not aware of any risks from cybersecurity threats that have materially affected or are reasonably likely to materially affect us,

our business strategy, results of operations or financial condition.

Furthermore, as part of our normal business activities, we collect and store common confidential information about customers, employees,

vendors, and suppliers.

This information is entitled to protection under a number of regulatory regimes.

failure to maintain the security of the data, including the penetration of our network security and the misappropriation of confidential

and personal information, could result in business disruption, damage to our reputation, financial obligations to third parties, fines,

penalties, regulatory proceedings and private litigation with potentially large costs.

This scenario may also result in a deterioration

of customer confidence in us and potentially other competitive disadvantages.

As such, a cyberattack could have a material adverse impact

on our financial condition and results of operations.

we devote resources to implement and maintain security measures to protect our systems and data, these measures cannot provide absolute

security against a cyberattack.

In such an event, the insurance coverage we maintain may be inadequate to cover claims, costs, and liabilities

relating to cybersecurity incidents.

we have not been subject to cyberattacks and other cyber incidents, we take cybersecurity preparedness seriously.

Our risk management

framework considers cybersecurity risk alongside other company risks as part of our overall risk assessment process.

We have plans to

implement cybersecurity training for all employees upon onboarding, and then annual follow-up training courses to ensure that all employees

understand the risk and implications of a cyber event.

We have implemented a Cybersecurity Committee which met three times

last year and is now responsible for the day-to-day management of cybersecurity risks, and the review our practices related to cyber events

and risk management.

The Committee is composed of the Chief Financial Officer, Chief Legal Officer, Controller, and Head of Human Resources.

The Committee is responsible for developing and implementing cybersecurity risk mitigation strategies and activities, including the managing

of comprehensive incident response plans, overseeing the cybersecurity risks posed by third-party vendors, keeping our policies and procedures

current, assessing compliance with our cybersecurity policies and procedures, and receiving regular updates on cybersecurity-related matters.

Further, the Committee will, from time to time and as needed, engage subject matter experts such as consultants and auditors to assist

us in establishing processes to assess, identify, and manage potential and actual cybersecurity threats, to actively monitor our systems

internally using widely accepted digital applications, processes, and controls, and to provide forensic assistance to facilitate system

recovery in the case of an incident.

The Audit Committee of our Board of Directors (the “Audit Committee”)

oversees our policies and practices with respect to risk assessment and risk management, including the review, in coordination with our

management, of our management of cybersecurity.

The Audit Committee receives regular updates from the Cybersecurity Committee on the state

of cybersecurity risks we face.

This includes briefings on any significant cyber incidents and ongoing risk management efforts.

updates enable the Audit Committee to provide informed reports on cybersecurity matters to the full Board.

of the date of this Annual Report on Form 10-K, we are not aware of any risks from cybersecurity threats that have materially affected

or are reasonably likely to materially affect us , our business strategy, results of operations or financial condition.

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-K

Item 1B. Unresolved Staff Comments