8 unchanged sentences
information is accumulated and communicated to our management, including our CEO and CFO, to allow timely decisions regarding required
−Removed: on this evaluation, our management, including our CEO and CFO, concluded that our disclosure controls and procedures were not effective
−Removed: as of March 31, 2022, at reasonable assurance level, for the following reasons:
−Removed: ineffective control environment and lack of qualified full-time CFO who has SEC experience to focus on our financial affairs;
−Removed: lack of qualified and sufficient personnel, and processes to adequately and timely identify making any and all required public disclosures;
−Removed: deficiencies in the period-end reporting process and accounting policies;
−Removed: inadequate internal controls over the application of new accounting principles or the application of existing accounting principles to new transactions;
−Removed: inadequate internal controls relating to the authorization, recognition, capture, and review of transactions, facts, circumstances, and events that could have a material impact on the company’s financial reporting process;
−Removed: deficient revenue recognition policies;
−Removed: inadequate internal controls with respect to inventory tracking and transactions;
−Removed: improper and lack of timely accounting for accruals such as prepaid expenses, accounts payable and accrued liabilities.
−Removed: The Company is addressing
−Removed: the ineffective controls, including through the following steps:
−Removed: The Company added independent directors in the fourth quarter of 2021 and the first quarter of 2022.
−Removed: The Company has additional financial resources, including funds received through a public offering and a private placement completed in the first quarter of 2022, to enable the hiring of additional personnel that will result in a separation of duties going forward.
−Removed: The Company established an independent Audit Committee in the first quarter of 2022.
−Removed: Additionally, the Board of
−Removed: Directors will work with management to continuously review controls and procedures to identified deficiencies and implement remediation
−Removed: within our internal controls over financial reporting and our disclosure controls and procedures.
−Removed: We believe that our financial
−Removed: statements presented in this report fairly present, in all material respects, our financial position, results of operations, and cash
−Removed: flows for all periods presented herein.
−Removed: Changes in Internal Control Over Financial
−Removed: Except as set forth above,
−Removed: there were no changes in our internal control over financial reporting during the quarter ended March 31, 2022, which were identified
−Removed: in conjunction with management’s evaluation required by paragraph (d) of Rules 13a-15 and 15d-15 under the Exchange Act, that have
−Removed: materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.
+Added: Based on this evaluation,
+Added: our management, including our CEO and CFO concluded that our disclosure controls and procedures were effective as of June 30, 2022, at
+Added: reasonable assurance level.
+Added: Changes in Internal Control Over
+Added: Financial Reporting
+Added: There were no changes in our
+Added: internal control over financial reporting during the quarter ended June 30, 2022, that have materially affected, or are reasonably likely
+Added: to materially affect, our internal control over financial reporting.
OTHER INFORMATION
Legal Proceedings.
−Removed: We are not party to, and our property is not the subject of, any material
−Removed: legal proceedings.
+Added: We are not party to, and our
+Added: property is not the subject of, any material legal proceedings.
Risk Factors.
1 unchanged sentence
company and are not required to provide the information under this item.
−Removed: Unregistered Sales of Equity Securities and Use of Proceeds.
−Removed: Defaults Upon Senior Securities.
−Removed: Mine Safety Disclosures.
−Removed: Not Applicable.
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.