What changed in this filing

/stocks — the workspaceLOADING

Item 4. Controls and Procedures

2024-11-14 compared with 2024-05-15 · 33 added, 17 removed, 3 unchanged (94% of the section changed)

1 unchanged sentence

Management’s Evaluation of Disclosure Controls and Procedures

Our Chief Executive Officer and our Chief Financial

Officer evaluated the effectiveness of 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, including internal control over financial reporting, were effective as of March 31, 2024, to ensure the information

we are required to disclose in reports that we file or submit under the Securities Exchange Act of 1934, as amended (i) is recorded, processed,

summarized, and reported within the time periods specified in Securities and Exchange Commission rules and forms, and (ii) is accumulated

and communicated to our management, including our Chief Executive Officer and our Chief Financial Officer, as appropriate to allow timely

decisions regarding required disclosure.

Our disclosure controls and procedures are intended to be designed to provide reasonable assurance

that such information is accumulated and communicated to our management.

Based on this evaluation, our management concluded that our internal

control over financial reporting was effective as of March 31, 2024.

Changes in Internal Control over Financial Reporting

There was no change in our internal control over financial

reporting that occurred during the period covered by this Quarterly Report on Form 10-Q that has materially affected, or is reasonably

likely to materially affect, our internal control over financial reporting.

Our Chief Executive Officer, who is our principal

executive officer, and our Chief Financial Officer, who is our principal financial officer, evaluated the effectiveness of 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, including internal control

over financial reporting, were effective as of September 30, 2024, to ensure the information we are required to disclose in reports that

we file or submit under the Securities Exchange Act of 1934, as amended (i) is recorded, processed, summarized, and reported within the

time periods specified in Securities and Exchange Commission rules and forms, and (ii) is accumulated and communicated to our management,

including our Chief Executive Officer and our Chief Financial Officer, as appropriate to allow timely decisions regarding required disclosure.

Our disclosure controls and procedures are intended to be designed to provide reasonable assurance that such information is accumulated

and communicated to our management.

Material Weaknesses Previously Identified

and Remediation Status

As disclosed in our Form 10-k for the fiscal year

ending June 30, 2024 we did not properly value our raw material and work-in-process inventory resulting in an overstatement of inventory

and an understatement of cost of goods sold in the amount of $320,000.

We used a manually updated spreadsheet to maintain our records

of quantities and costs in inventory, prior to transitioning to a new ERP system.

The new ERP system was not properly updated to reflect

current costs, and proper units of measure for certain items in inventory.

During the quarter ending September 30, 2024, we conducted

a thorough review of inventory item costs, updating incorrect item costs and units of measure in the new ERP system and established a

methodology to continually monitor changes in costs through an analysis of purchase price variances and customer margin analysis.

Additionally, we realized during the preparation

of the financial statements for the fiscal year ending June 30, 2024 that we did not properly expense certain research and development

costs totaling $147,000, which was corrected prior to the filing of our financial statements on Form 10-K for the fiscal year ending June

We erroneously believed certain research and development costs were allowed to be capitalized under GAAP.

The remediation of

this material weakness has now been completed.

Changes in Internal Control over Financial

Except for the material weaknesses and remediation

discussed above, there was no change in our internal control over financial reporting that occurred during the period covered by this

Quarterly Report on Form 10-Q that has materially affected, or is reasonably likely to materially affect, our internal control over financial

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

Item 4. Controls and Procedures