Item 4. Controls and Procedures
ITEM
4. CONTROLS AND PROCEDURES.
We
maintain disclosure controls and procedures that are designed to ensure that information required to be disclosed in our periodic and
current reports that we file with the SEC is recorded, processed, summarized and reported within the time periods specified in the SEC’s
rules and forms; and that such information is accumulated and communicated to our management, including our principal executive officer
and principal financial officer, as appropriate, to allow timely decisions regarding required disclosure.
Evaluation
of Disclosure Controls and Procedures
Our
Chief Executive Officer and our Chief Financial Officer, after evaluating our “disclosure controls and procedures” (as defined
in Exchange Act Rules 13a 15(e) and 15d 15(e)) as of the end of the period covered by this Quarterly Report (the “Evaluation Date”),
have concluded that as of the Evaluation Date, our disclosure controls and procedures are effective to ensure that information we are
required to disclose in reports that we file or submit under the Exchange Act is recorded, processed, summarized, and reported within
the time periods specified in SEC rules and forms, and to ensure that information required to be disclosed by us in such reports is accumulated
and communicated to our management, including our Chief Executive Officer and Chief Financial Officer, where appropriate, to allow timely
decisions regarding required disclosure.
Changes
in Internal Controls Over Financial Reporting
There
were no changes in our internal control over financial reporting identified in management’s evaluation pursuant to Rules 13a-15(d)
or 15d-15(d) of the Exchange Act during the period covered by this Quarterly Report that materially affected, or are reasonably likely
to materially affect, our internal control over financial reporting.
Inherent
Limitations on Effectiveness of Controls
Our
management, including our Chief Executive Officer and our Chief Financial Officer, does not expect that our disclosure controls and procedures
or our internal control over financial reporting will prevent or detect all errors and all fraud. A control system, no matter how well-designed
and operated, can provide only reasonable, not absolute, assurance that the control system’s objectives will be met. The design
of a control system must reflect the fact that there are resource constraints, and the benefits of controls must be considered relative
to their costs. Further, because of the inherent limitations in all control systems, no evaluation of controls can provide absolute assurance
that misstatements due to error or fraud will not occur or that all control issues and instances of fraud, if any, have been detected.
The design of any system of controls is based in part on certain assumptions about the likelihood of future events, and there can be
no assurance that any design will succeed in achieving its stated goals under all potential future conditions. Projections of any evaluation
of the effectiveness of controls to future periods are subject to risks. Over time, controls may become inadequate because of changes
in conditions or deterioration in the degree of compliance with policies or procedures.
56
PART
II
OTHER
INFORMATION
ITEM
1. LEGAL PROCEEDINGS.
Not
applicable.
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