Item 4. Controls and Procedures
ITEM
4. CONTROLS AND PROCEDURES
Evaluation
of disclosure controls and procedures
Our
management is responsible for establishing and maintaining a system of disclosure controls and procedures (as defined in Rule 13a-15(e))
under the Exchange Act) that is designed to ensure that information required to be disclosed by our Company in the reports that we file
or submit under the Exchange Act is recorded, processed, summarized and reported, within the time specified in the Commission’s
rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information
required to be disclosed by an issuer in the reports that it files or submits under the Exchange Act is accumulated and communicated
to the issuer’s management, including its principal executive officer or officers and principal financial officer or officers,
or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.
Pursuant
to Rule 13a-15(b) under the Exchange Act, our Company carried out an evaluation as of March 31, 2022 with the participation of
our Company’s management, including our Company’s Chief Executive Officer (“CEO”) and our Company’s Chief
Financial Officer (“CFO”), of the effectiveness of our Company’s disclosure controls and procedures (as defined under
Rule 13a-15(e) under the Exchange Act). Based upon that evaluation, our Company’s CEO and CFO concluded that our Company’s
disclosure controls and procedures were not effective as of March 31, 2022 due to our Company’s limited internal resources and
lack of ability to have multiple levels of transaction review.
Management
is in the process of determining how best to change our current system and implement a more effective system to insure that information
required to be disclosed in the reports that we file or submit under the Exchange Act have been recorded, processed, summarized and reported
accurately. Our management intends to develop procedures to address the current deficiencies to the extent possible given limitations
in financial and personnel resources. While management is working on a plan, no assurance can be made at this point that the implementation
of such controls and procedures will be completed in a timely manner or that they will be adequate once implemented.
Changes
in internal control over financial reporting
There
have been no changes in our internal control over financial reporting during the period ended March 31, 2022 that have materially affected,
or are reasonably likely to materially affect, our internal controls over financial reporting.
19
PART
II
OTHER
INFORMATION
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