Item 4. Controls and Procedures
Item 4. Controls and Procedures.
Disclosure controls and procedures (as defined
in paragraph (e) of Rules 13a-15 and 15d-15 under the Exchange Act) are controls and other procedures that are designed to ensure that
the information required to be disclosed in reports that we file or submit under the Exchange Act is recorded, processed, summarized and
reported within the time periods specified under the rules and forms of the SEC. Disclosure controls and procedures include, without limitation,
controls and procedures designed to ensure that such information required to be disclosed in our reports filed or submitted under the
Exchange Act 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 disclosures.
Evaluation of Disclosure Controls and Procedures
As required by paragraph (b) of Rules 13a-15 and
15d-15 under the Exchange Act, our Chief Executive Officer and our Chief Financial Officer carried out an evaluation of the effectiveness
of the design and operation of our disclosure controls and procedures as of March 31, 2022. Based on this evaluation, our Chief Executive
Officer and our Chief Financial Officer concluded that, due to the material weaknesses in our internal control over financial reporting
previously identified in Item 9A, “Controls and Procedures” of our Annual Report on Form 10-K for the fiscal year ended December
31, 2021 and filed with the SEC on March 31, 2022, our disclosure controls and procedures were not effective at the reasonable assurance
level as of March 31, 2022.
Changes in Internal Control Over Financial Reporting
We are implementing certain measures to remediate
the material weaknesses identified in the design and operation of our internal control over financial reporting, including hiring additional
qualified personnel, further documentation and implementation of control procedures and the implementation of control monitoring. Other
than those measures, there have been no changes in our internal control over financial reporting (as such term is defined in Rules 13a-15(f)
and 15d-15(f) under the Exchange Act) during the quarter ended March 31, 2022 that have materially affected, or are reasonably likely
to materially affect, our internal control over financial reporting.
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PART II — OTHER INFORMATION
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.