Item 4. Controls and Procedures
Item 4. Controls and Procedures
Disclosure controls and procedures
are controls and other procedures that are designed to ensure that information required to be disclosed in our reports filed or submitted
under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and
forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that 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, to allow timely decisions regarding required disclosure.
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 carried out an evaluation of the effectiveness of the
design and operation of our disclosure controls and procedures as of September 30, 2023. Based on this evaluation, our Chief Executive
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, 2022 and filed with
the SEC on November 28, 2023, our disclosure controls and procedures were not effective at the reasonable assurance level as of September
30, 2023.
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 technically qualified personnel and improving our technical accounting resources and capabilities. 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 September 30, 2023 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.