Item 4. Controls and Procedures
Item
4. Controls and Procedures.
(a) Disclosure
Controls and Procedures.
The Company’s
management, with the participation of the Company’s principal executive officer (“PEO”) and principal financial
officer (“PFO”), evaluated the effectiveness of the Company’s disclosure controls and procedures (as defined
in Rules 13a-15(e) and 15d-15(e) promulgated under the Securities Exchange Act of 1934, as amended (the “Exchange Act”))
as of the end of the period covered by this report. Based on this evaluation, the PEO and PFO concluded that, as of the end of
such period, the Company’s disclosure controls and procedures were not effective to ensure that information that is required
to be disclosed by the Company in the reports it files or submits under the Exchange Act is (i) recorded, processed, summarized
and reported, within the time periods specified in the SEC’s rules and forms and (ii) accumulated and communicated to the
Company’s management, including the PEO and PFO, as appropriate, to allow timely decisions regarding required disclosure.
The material weaknesses in our disclosure controls and procedures consisted of:
●
There are insufficient written policies and
procedures to insure the correct application of accounting and financial reporting with respect to the current requirements
of GAAP and SEC disclosure requirements.
(b) Changes
in Internal Control Over Financial Reporting
There have
not been any changes in our internal control over financial reporting (as such term is defined in Rules 13a-15(f) and 15d-15(f)
under the Exchange Act) during our most recently completed fiscal quarter that have materially affected, or are reasonably likely
to materially affect, our internal control over financial reporting.
21
PART II
– OTHER INFORMATION
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.