NEUROONE MEDICAL TECHNOLOGIES Corp 10-Q/A

Item 4. Controls and Procedures (As Restated) Evaluation of Disclosure Controls and Procedures At the time our Quarterly Report on Form 10-Q for the quarter ended March 31, 2026 was filed on May 12, 2026 (the “Original Filing”), our Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures were not effective due to the existence of material weaknesses in our internal control over financial reporting. As described in Note 2, subsequent to the date of the Original Filing, errors were identified in the Company’s revenue recognition for certain product revenue shipments, resulting in the restatement of the Company’s previously issued unaudited condensed financial statements for the three and six months ended March 31, 2026. In connection with the filing of this Form 10-Q/A, we have re-evaluated our disclosure controls and procedures as of the end of the period covered by this Quarterly Report on Form 10-Q. Based on this evaluation, our Chief Executive Officer and our Chief Financial Officer have concluded that our disclosure controls and procedures were not effective at the reasonable assurance level as of March 31, 2026 due to the material weakness in our internal controls over financial reporting as discussed further below that were identified in the Company’s Annual Report on Form 10-K for the year ended September 30, 2025 and the additional material weakness that existed as of March 31, 2026 as discussed in more detail below. Material Weakness The Company identified a material weakness related to insufficient segregation of duties within its accounting and financial reporting functions. Specifically, due to the Company’s limited accounting personnel and organizational structure, certain individuals had the ability to initiate, process, record, and review financial transactions, as well as prepare and post journal entries, without adequate independent review. This material weakness resulted in an increased risk that errors or misstatements in the Company’s financial statements may not be prevented or detected on a timely basis. In addition, the restatement of our condensed consolidated financial statements for the three and six months ended March 31, 2026 identified a further material weakness related to ineffective controls over revenue recognition, specifically with respect to: (i) the review of customer purchase order modifications and related shipping documentation, and (ii) the reconciliation of shipments. Remediation Plans Management has been implementing and continues to implement measures designed to ensure that control deficiencies contributing to the material weaknesses are remediated, such that these controls are designed, implemented, and operating effectively. The remediation actions include: ● Enhancing reconciliation procedures between shipping records, billing, and recorded revenue to confirm completeness and accuracy of revenue recognized; ● Enhancing policies and procedures to retain adequate documentary evidence for certain management review controls over certain business processes including precision of review and evidence of review procedures performed to demonstrate effective operation of such controls; ● Segregating key functions within our financial processes supporting our internal controls over financial reporting; and ● Continuing to enhance and formalize our accounting, business operations, procedures, and controls to achieve complete, accurate, and timely financial accounting, reporting and disclosures. As of the end of the reporting period, these material weaknesses had not been remediated. Accordingly, management concluded that our internal control over financial reporting was not effective. Changes in Internal Control over Financial Reporting There has not been any material change in our internal control over financial reporting (as such term is defined in Rule 13a-15(f) and 15d-15(f) under the Exchange Act) during the three months ended March 31, 2026 that has materially affected, or is reasonably likely to materially affect our internal control over financial reporting. 38 NeuroOne Medical Technologies Corporation Form 10-Q PART II - OTHER INFORMATION