2 unchanged sentences
Our management, with the supervision and involvement of our Principal Executive Officer and Principal Financial Officer, has evaluated the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act) as of the end of the period covered by this report, pursuant to Exchange Act Rule 13a-15.
−Removed: Based upon this evaluation, our chief executive officer and chief financial officer have concluded that, as of March 31, 2025, as a result of the material weaknesses in our internal control over financial reporting discussed below and filed in our Form 10-K for the year ended December 31, 2024 on March 19, 2025 with the SEC, our disclosure controls and procedures were not effective.
+Added: Based upon this evaluation, our chief executive officer and chief financial officer have concluded that, as of June 30, 2025, as a result of the material weaknesses in our internal control over financial reporting discussed below and filed in our Form 10-K for the year ended December 31, 2024 on March 19, 2025 with the SEC, our disclosure controls and procedures were not effective.
A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the Company’s annual or interim financial statements will not be prevented or detected on a timely basis.
10 unchanged sentences
Management is actively implementing measures to remediate identified material weaknesses, ensuring controls are properly designed, implemented, and operating effectively.
−Removed: To address these weaknesses, the Company has engaged an external advisor, hired additional accounting and finance personnel, and assessed training needs for internal controls.
+Added: To address these weaknesses, the Company has engaged an external advisor and assessed training needs for internal controls.
For the financial close and reporting process, management has implemented control activities to ensure proper presentation within the statements of operations and cash flows.
5 unchanged sentences
Changes in Internal Control Over Financial Reporting
−Removed: Other than the material weaknesses and remediation plan described above, there have been no significant changes in our internal control over financial reporting (as defined in Rule 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended), except as discussed above, that have materially affected or are reasonably likely to materially affect the Company’s internal control over financial reporting.
+Added: Other than the material weaknesses and the remediation plan described above, there have been no significant changes in our internal control over financial reporting (as defined in Rule 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended), except as discussed above, that have materially affected or are reasonably likely to materially affect the Company’s internal control over financial reporting.
PART II —OTHER INFORMATION
2 unchanged sentences
We are currently not a party to any material legal proceedings.
−Removed: See Note 15 – “Commitments and Contingencies”.
+Added: See Note 15 – “Commitments and Contingencies” – to our Consolidated Financial Statements included in Part I, Item 1 of this report.
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.