What changed in this filing

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Item 4. Controls and Procedures

2015-03-20 compared with 2015-03-20 · 47 added, 51 removed, 8 unchanged (92% of the section changed)

2 unchanged sentences

Disclosure Controls and Procedures

We maintain “disclosure controls and

procedures,”

“disclosure controls and procedures,”

as the Securities and Exchange Commission (“SEC”) defines such term.

We have designed these controls

and procedures to reasonably assure that information required to be disclosed in our reports filed under the Exchange Act, such

as this Form 10-Q, is recorded, processed, summarized, and reported within the periods specified in the SEC’s rules and

We have also designed our disclosure controls to provide reasonable assurance that such information is accumulated and

communicated to the Chief Executive Officer and Vice President/Controller, as appropriate, to allow them to make timely decisions

regarding our required disclosures.

Our management has evaluated the effectiveness

of our disclosure controls and procedures (as defined in Rule 13a-15(e) of the Securities Exchange Act of 1934) as of

September 30, 2014.

Based on this evaluation, the Chief Executive Officer and Vice President/Controller acting as principle financial

officer, concluded that our Company’s disclosure controls and procedures, including the accumulation and communication of

disclosures to the Company’s Chief Executive Officer and Vice President/Controller acting as principle financial officer,

as appropriate to allow timely decisions regarding required disclosure, were not effective as of this date to provide reasonable

assurance that information required to be disclosed by us in the reports that we file or submit under the Exchange Act is recorded,

processed, summarized and reported within the time periods specified by the SEC’s rules and forms.

Based on this evaluation,

we have concluded that there are material weaknesses in our disclosure controls and procedures and they were not effective for

the following reasons:

We have designed these controls and procedures to reasonably assure that information required to be disclosed in our reports filed

under the Exchange Act, such as this Form 10-Q, is recorded, processed, summarized, and reported within the periods specified

in the SEC’s rules and forms.

We have also designed our disclosure controls to provide reasonable assurance that such information

is accumulated and communicated to the Chief Executive Officer and Vice President/Controller, as appropriate, to allow them to

make timely decisions regarding our required disclosures.

Our management,

has evaluated the effectiveness of our disclosure controls and procedures (as defined in Rule 13a-15(e) of the Securities

Exchange Act of 1934) as of June 30, 2014.

Based on this evaluation, the Chief Executive Officer and Vice President/Controller

acting as principle financial officer, concluded that our Company’s disclosure controls and procedures, including the accumulation

and communication of disclosures to the Company’s Chief Executive Officer and Vice President/Controller acting as principle

financial officer, as appropriate to allow timely decisions regarding required disclosure, were not effective as of this date

to provide reasonable assurance that information required to be disclosed by us in the reports that we file or submit under the

Exchange Act is recorded, processed, summarized and reported within the time periods specified by the SEC’s rules and

Based on this evaluation, we have concluded that there are material weaknesses in our disclosure controls and procedures

and they were not effective for the following reasons:

Due to our relatively small size we do not have segregation of duties which is a deficiency in our disclosure controls.

We are currently working on the resources to cure this deficiency.

Management’s Report on Internal Control Over Financial

Our management is responsible for establishing

and maintaining adequate internal control over financial reporting (as defined in Rule 13a-15(f) under the Exchange Act).

control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting

and the preparation of financial statements for external purposes.

Because of its inherent limitations, internal

control over financial reporting may not prevent or detect misstatements.

Therefore, even those systems determined to be effective

can provide only reasonable assurance of achieving their control objectives.

Our management, including our Chief Executive Officer

and Vice President/Controller acting as principle financial officer, does not expect that our disclosure controls and procedures

or our internal controls will prevent all error or fraud.

A control system, no matter how well conceived and operated, can provide

only reasonable, not absolute, assurance that the objectives of the control system are met.

Further, 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.

Due to the inherent limitations in all control systems, no evaluation of controls can provide absolute assurance that all control

issues and instances of fraud, if any, have been detected.

Management believes that the financial statements included in this

report fairly present in all material respects our financial condition, results of operations and cash flows for the periods presented.

Our management, with the participation of

the Chief Executive Officer, as principal executive officer and Vice President/Controller acting as principle financial officer,

evaluated the effectiveness of the Company’s internal control over financial reporting as of September 30, 2014.

this assessment, our management used the criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission

(“COSO”) in Internal Control –

Managements Report on Internal Control Over Financial Reporting .

Our management is responsible for establishing and maintaining adequate internal control over financial reporting (as defined in Rule 13a-15(f) under the Exchange Act).

Our internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes.

its inherent limitations, internal control over financial reporting may not prevent or detect misstatements.

Therefore, even

those systems determined to be effective can provide only reasonable assurance of achieving their control objectives.

management, including our Chief Executive Officer and Vice President/Controller, acting as principle financial officer, does

not expect that our disclosure controls and procedures or our internal controls will prevent all error or fraud.

system, no matter how well conceived and operated, can provide only reasonable, not absolute, assurance that the objectives

of the control system are met.

Further, 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.

Due to the inherent limitations in all

control systems, no evaluation of controls can provide absolute assurance that all control issues and instances of fraud, if

any, have been detected.

Management believes that the financial statements included in this report fairly present in all

material respects our financial condition, results of operations and cash flows for the periods presented.

Our management, with the participation of the Chief Executive Officer as principal executive officer and Vice

President/Controller, acting as principle financial officer, evaluated the effectiveness of the Company’s internal control

over financial reporting as of June 30, 2014.

In making this assessment,

our management used the criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission (“COSO”)

in Internal Control –

Integrated Framework.

As a result of its review, management identified a material

weakness in the internal control over financial reporting as described in our annual report on Form 10-K for the year ended March

Based on this evaluation, our management concluded that, as of September 30, 2014, our internal control over financial

reporting was not comprehensive.

Management acknowledges that as a smaller reporting entity, it is difficult to have adequate

accounting staff to perform appropriate additional reviews of the financial statements.

As a result of its review, management identified a material weakness in the

internal control over financial reporting as described in our annual report on Form 10-K for the year ended March 31, 2014.

on this evaluation, our management, concluded that, as of June 30, 2014, our internal control over financial reporting was not

comprehensive.

Management acknowledges that as a smaller reporting entity, it is difficult to have adequate accounting staff to

perform appropriate additional reviews of the financial statements.

PART II - OTHER INFORMATION

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.

What changed 10-Q/A

Item 4. Controls and Procedures