What changed in this filing

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Item 4. Controls and Procedures

2024-08-12 compared with 2024-05-15 · 30 added, 30 removed, 22 unchanged (73% of the section changed)

2 unchanged sentences

of Disclosure Controls and Procedures

We conducted an evaluation of the effectiveness of

our “disclosure controls and procedures” (“Disclosure Controls”), as defined by Rules 13a-15(e) and 15d-15(e)

of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), as of March 31, 2024, the end of the period

covered by this Quarterly Report on Form 10-Q.

The Disclosure Controls evaluation was done under the supervision and with the participation

of management, including our chief executive officer and acting chief financial officer, which positions are held by the same person.

There are inherent limitations to the effectiveness of any system of disclosure controls and procedures.

We conducted an evaluation of the effectiveness

of our “disclosure controls and procedures” (“Disclosure Controls”), as defined by Rules 13a-15(e) and 15d-15(e)

of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), as of June 30, 2024, the end of the period covered

by this Quarterly Report on Form 10-Q.

The Disclosure Controls evaluation was done under the supervision and with the participation of

management, including our chief executive officer and acting chief financial officer, which positions are held by the same person.

are inherent limitations to the effectiveness of any system of disclosure controls and procedures.

Accordingly, even effective disclosure

2 unchanged sentences

executive officer and acting chief financial officer concluded that, due to the material weaknesses in our internal control over financial

reporting, our disclosure controls were not effective as of March 31, 2024, such that the information required to be disclosed by

reporting, our disclosure controls were not effective as of June 30, 2024, such that the information required to be disclosed by

us in reports filed under the Securities Exchange Act of 1934 is (i) recorded, processed, summarized and reported within the time periods

1 unchanged sentence

officer, as appropriate to allow timely decisions regarding disclosure.

Changes in Internal Control over Financial Reporting

There were no changes in our internal

control over financial reporting (as such term is defined in Rules 13a-15(f) and 15d-15(f) of the Exchange Act) during the most

recent fiscal quarter that have materially affected, or are reasonably likely to materially affect, our internal control over

financial reporting.

In light of the restatement of our financial statements included in amendment no.

1 to our annual report on

Form 10-K/A for the year ended December 31, 2023, which resulted from our failure to have effective internal controls over financial

reporting, we plan to enhance our processes to identify and appropriately apply applicable accounting requirements to better

evaluate and understand the nuances of the complex accounting standards that apply to our financial statements keeping in mind the

limitation resulting from our limited resources and our not having a full-time chief financial officer with an accounting

As previously disclosed, management has determined that our internal control over financial reporting contains material

weaknesses due to the absence of segregation of duties, as well as lack of qualified accounting personnel and excessive reliance on

third-party consultants for accounting, financial reporting and related activities.

The lack of any separation of duties, with the

same person, who is our only full time employee, serving as both chief executive officer and acting chief financial officer, and who

does not have an accounting background, makes it unlikely that we will be able to implement effective internal controls over

financial reporting in the near future.

During the period ended March 31, 2024, there

Changes in Internal Control over Financial

There were no changes in our internal control

over financial reporting (as such term is defined in Rules 13a-15(f) and 15d-15(f) of the Exchange Act) during the most recent fiscal

quarter that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

light of the restatement of our financial statements included in amendment no.

1 to our annual report on Form 10-K/A for the year ended

December 31, 2023, which resulted from our failure to have effective internal controls over financial reporting, we plan to enhance our

processes to identify and appropriately apply applicable accounting requirements to better evaluate and understand the nuances of the

complex accounting standards that apply to our financial statements keeping in mind the limitation resulting from our limited resources

and our not having a full-time chief financial officer with an accounting background.

As previously disclosed, management has determined

that our internal control over financial reporting contains material weaknesses due to the absence of segregation of duties, as well as

lack of qualified accounting personnel and excessive reliance on third-party consultants for accounting, financial reporting and related

The lack of any separation of duties, with the same person, who is our only full time employee, serving as both chief executive

officer and acting chief financial officer, and who does not have an accounting background, makes it unlikely that we will be able to

implement effective internal controls over financial reporting in the near future.

During the period ended June 30, 2024, there

was no change in our internal control over financial reporting (as such term is defined in Rule 13a-15(f) under the Exchange Act) that

9 unchanged sentences

Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101).

Pursuant to the requirements of the Securities Exchange Act of 1934, the

Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Pursuant to the requirements of the Securities Exchange Act of 1934,

the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

August 12, 2024

QUEST PATENT RESEARCH CORPORATION

Chief Executive Officer and Acting Chief Financial Officer

Chief Executive Officer and

Acting Chief Financial Officer

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