15 unchanged sentences
Based upon the foregoing, our Chief Executive Officer and Chief Financial Officer concluded
−Removed: that, as of September 30, 2022, the disclosure controls and procedures of our Company were not effective to ensure that the information
+Added: that, as of December 31, 2022, the disclosure controls and procedures of our Company were not effective to ensure that the information
required to be disclosed in our Exchange Act reports was recorded, processed, summarized and reported on a timely basis due to the material
1 unchanged sentence
Weaknesses and Corrective Actions
−Removed: framework used by management in making that assessment was the criteria set forth in the document entitled “2013 Internal
−Removed: Control - Integrated Framework” issued by the Committee of Sponsoring Organizations of the Treadway Commission,
−Removed: In connection with the audits of our consolidated financial statements for the fiscal years ended June 30,
−Removed: 2022 and 2021, we identified certain deficiencies relating to our internal control over financial reporting that constitute a
−Removed: material weakness under the framework.
−Removed: weakness is a deficiency, or a combination of deficiencies, within the meaning of PCAOB Audit Standard No.
−Removed: 5, in internal control
−Removed: over financial reporting, such that there is a reasonable possibility that a material misstatement of our annual or interim
−Removed: financial statements will not be prevented or detected on a timely basis.
−Removed: following material weaknesses in our internal control over financial reporting continued to exist at September 30, 2022:
+Added: framework used by management in making that assessment was the criteria set forth in the document entitled “2013 Internal Control
+Added: - Integrated Framework” issued by the Committee of Sponsoring Organizations of the Treadway Commission, (“COSO”).
+Added: connection with the audits of our financial statements for the fiscal years ended June 30, 2022 and 2021, we identified certain deficiencies
+Added: relating to our internal control over financial reporting that constitute a material weakness under standards established by the Public
+Added: Company Accounting Oversight Board (the “PCAOB”).
+Added: A material weakness is a deficiency, or a combination of deficiencies,
+Added: within the meaning of PCAOB Audit Standard No.
+Added: 5, in internal control over financial reporting, such that there is a reasonable possibility
+Added: that a material misstatement of our annual or interim financial statements will not be prevented or detected on a timely basis.
+Added: following material weaknesses in our internal control over financial reporting continued to exist at December 31, 2022:
do not have written documentation of our internal control policies and procedures.
6 unchanged sentences
should be performed by separate individuals;
−Removed: of audit committee of our board of directors;
−Removed: monitoring and review controls over the financial reporting closing process, including the lack of individuals with current knowledge
+Added: lack an audit committee of our board of directors;
+Added: have insufficient monitoring and review controls over the financial reporting closing process, including the lack of individuals
+Added: with current knowledge of US GAAP.
outsource certain of the functions that would normally be performed by a principal financial officer to assist us in implementing the
necessary financial controls over the financial reporting and the utilization of internal management and staff to effectuate these controls.
−Removed: believe that these material weaknesses primarily relate, in part, to our lack of sufficient staff with appropriate training in U.S.
+Added: believe that these material weaknesses primarily relate, in part, to our lack of sufficient staff with appropriate training in US GAAP
and SEC rules and regulations with respect to financial reporting functions, and the lack of robust accounting systems, as well as the
22 unchanged sentences
in Internal Controls over Financial Reporting
−Removed: were no changes in our internal controls over financial reporting that occurred during the quarter ended September 30, 2022 that have
+Added: were no changes in our internal controls over financial reporting that occurred during the quarter ended December 31, 2022 that have
materially affected, or are reasonably likely to materially affect, our internal controls over financial reporting.
1 unchanged sentence
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.