Item 1B. Unresolved Staff Comments
Item
1B. Unresolved Staff Comments
Not
applicable.
Item
1C. Cybersecurity
The
Company recognizes the critical importance of cybersecurity in safeguarding sensitive information, maintaining operational resilience,
and protecting stakeholders’ interests.
The
Company is in the process of establishing a cybersecurity policy (i) designed to establish a comprehensive framework for
identifying, assessing, mitigating, and responding to cybersecurity risks across the organization and (ii) which implements
protocols to evaluate, recognize, and address significant risks, including those posed by cybersecurity threats. This strategy
encompasses the utilization of standard traffic monitoring tools, educating personnel to identify and report abnormal activities,
and partnering with reputable service providers capable of upholding security standards equivalent to or exceeding our own in
order to minimize exposure to unnecessary risks across our operations. For cybersecurity, we will collaborate with expert
consultants and third-party service providers to implement industry-standard strategies aimed at identifying and mitigating
potential threats or vulnerabilities within our systems. Additionally, the policy strategy will have a comprehensive cyber crisis
response plan to manage high severity security incidents, ensuring efficient coordination across the organization.
Cybersecurity
threats have not historically impacted our operations and we do not anticipate such risks materially affecting our business,
strategy, financial condition, or results of operations. However, given the escalating sophistication of cyber threats, our
preventive measures may not always suffice. Despite well-designed controls, we acknowledge the inability to foresee all security
breaches, including those stemming from third-party misuse of AI technologies, and the potential challenges in implementing timely
preventive measures. Please see “ Cyber incidents or attacks directed at us could result in information theft, data
corruption, operational disruption and/or financial loss” in Item 1A: Risk Factors for additional disclosure regarding cyber
attack-related risks.
The
Chief Executive Officer will oversee our information security programs, including cybersecurity initiatives and cybersecurity
incident response process. The Audit Committee of the Board of Directors oversees cybersecurity risk management activities,
supported by Company management, the Board of Directors, and external consultants. We assess and prioritize risks based on potential
impact, implement technical controls, and monitor third-party vendors’ security practices.
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