3 unchanged sentences
Based on this evaluation, our management, with the participation of our principal executive officer and principal financial officer, concluded that, as of the end of the period covered by this report, our disclosure controls and procedures were not effective at the reasonable assurance level.
−Removed: During the year ended December 31, 2021, our management identified a material weakness in our internal control over financial reporting which continued to exist as of March 31, 2023.
+Added: During the year ended December 31, 2021, our management identified a material weakness in our internal control over financial reporting which continued to exist as of June 30, 2023.
We did not design or maintain effective controls to ensure that there is an independent review and approval of electronic payments (wires, EFT’s, ACH’s and credit card payments).
−Removed: We are currently in the process of implementing a detailed plan for remediation of the material weakness, including developing and maintaining preventative controls around the electronic payment process to ensure proper segregation of duties.
+Added: During May 2023, we implemented preventative controls around the electronic payment process to ensure proper segregation of duties.
+Added: Such controls require being in place for a full reporting quarter to evaluate effectiveness.
+Added: As such, we expect the material weakness will be remediated as of September 30, 2023, although no assurance can be given that this will be the outcome.
Changes in Internal Control Over Financial Reporting
−Removed: There has been no change in our internal control over financial reporting that occurred during the first quarter of 2023 that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.
+Added: There has been no change in our internal control over financial reporting that occurred during the quarter ended June 30, 2023 that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting, except as described above.
Inherent Limitations of the Effectiveness of Controls
4 unchanged sentences
LEGAL PROCEEDINGS
−Removed: There have been no material changes to the risk factors discussed in Item 1A.
−Removed: Risk Factors in our Annual Report on Form 10-K which was filed with the SEC on March 28, 2023.
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.