What changed in this filing

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Item 4. Controls and Procedures

2025-08-13 compared with 2025-05-07 · 32 added, 35 removed, 24 unchanged (74% of the section changed)

11 unchanged sentences

end of the period covered by this quarterly report, at the reasonable assurance level.

material weaknesses identified, and the related remediation plan are more fully described in our 2024 Form 10-K and Form 10-K/A for

the fiscal year ended 2024, filed with the SEC on March 13, 2025.

The material weaknesses, summarized in the bullet points below, relate to

the fact that we did not design and maintain accounting policies, procedures and controls to ensure complete, accurate and timely

material weaknesses identified, and the related remediation plan are more fully described in our 2024 Form 10-K and Form 10-K/A for the

fiscal year ended 2024, filed with the SEC on March 13, 2025.

The material weaknesses, summarized in the bullet points below, relate

to the fact that we did not design and maintain accounting policies, procedures and controls to ensure complete, accurate and timely

financial reporting in accordance with U.S.

Specifically, the material weaknesses identified included the following:

We did not design and maintain formal accounting policies,

procedures and controls to achieve complete, accurate and timely financial accounting, reporting and disclosures, including controls over

the preparation and review of account reconciliations, journal entries and classification of certain costs;

We had not developed and effectively communicated to

our employees our accounting policies and procedures, which resulted in inconsistent practices.

did not design and maintain formal accounting policies, procedures and controls to achieve complete, accurate and timely financial

accounting, reporting and disclosures, including controls over the preparation and review of account reconciliations, journal entries

and classification of certain costs;

had not developed and effectively communicated to our employees our accounting policies and

procedures, which resulted in inconsistent practices.

Since these entity level programs have

a pervasive effect across the organization, management has determined that these circumstances constitute a material weakness;

We do not have sufficient, qualified finance and accounting

staff with the appropriate U.S.

GAAP technical accounting expertise to identify, evaluate and account for accounting and financial reporting,

and effectively design and implement systems and processes that allow for the timely production of accurate financial information in accordance

with internal financial reporting timelines.

As a result, we did not design and maintain formal accounting policies, processes and controls

related to complex transactions necessary for an effective financial reporting process;

As a high-growth, smaller reporting company that became responsible for listed financial reporting, we have a limited

staff and budget available to adequately test and monitor the effectiveness of certain internal controls.

Management’s Annual Report on Internal

Control over Financial Reporting

Management is responsible for

establishing and maintaining adequate internal control over financial reporting (as defined in Rules 13a-15(f) and 15d-15(f) of the Exchange

Act) of the Company.

Internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability

of financial reporting and the preparation of financial statements for external purposes in accordance with U.S.

The information set forth under

“—Material Weaknesses” above is incorporated herein by reference.

Management, under the supervision of our principal

executive officer and our principal financial officer, conducted an evaluation of the effectiveness of internal controls over financial

reporting based on the framework in 2013 Internal Control – Integrated Framework issued by the Committee of Sponsoring Organizations

of the Treadway Commission.

Based on this evaluation, management concluded that the Company’s internal control over financial reporting

was not effective as of the period covered by this quarterly report.

a pervasive effect across the organization, management has determined that these circumstances

constitute a material weakness;

do not have sufficient, qualified finance and accounting staff with the appropriate U.S.

GAAP technical accounting expertise to identify,

evaluate and account for accounting and financial reporting, and effectively design and implement systems and processes that allow

for the timely production of accurate financial information in accordance with internal financial reporting timelines.

we did not design and maintain formal accounting policies, processes and controls related to complex transactions necessary for an

effective financial reporting process;

a high-growth, smaller reporting company that is subject to the reporting requirements of the Securities Exchange Act

of 1934, we have a limited staff and budget

available to adequately test and monitor the effectiveness of certain internal controls.

Annual Report on Internal Control over Financial Reporting

is responsible for establishing and maintaining adequate internal control over financial reporting (as defined in Rules 13a-15(f) and

15d-15(f) of the Exchange Act) of the Company.

Internal control over financial reporting is a process designed to provide reasonable

assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance

information set forth under “Material Weaknesses” above is incorporated herein by reference.

under the supervision of our principal executive officer and our principal financial officer, conducted an evaluation of the effectiveness

of internal controls over financial reporting based on the framework in 2013 Internal Control – Integrated Framework issued by

the Committee of Sponsoring Organizations of the Treadway Commission.

Based on this evaluation, management concluded that the Company’s

internal control over financial reporting was not effective as of the period covered by this quarterly report.

in Internal Control over Financial Reporting

were no changes in our internal control over financial reporting during the six months ended March 31, 2025, that have materially affected

were no changes in our internal control over financial reporting during the nine months ended June 30, 2025, that have materially affected

or are reasonably likely to materially affect, our internal control over financial reporting, including any corrective actions regarding

7 unchanged sentences

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