1 unchanged sentence
Evaluation of Disclosure Controls and Procedures
−Removed: carried out an evaluation, under the supervision and with the
−Removed: participation of our management, including our Chief Executive
−Removed: Officer (who is our Principal Executive Officer) and our Chief
−Removed: Financial Officer and Treasurer (who is our Principal Financial
−Removed: Officer and Principal Accounting Officer), of the effectiveness of
−Removed: the design of our disclosure controls and procedures (as defined by
−Removed: Exchange Act Rules 13a-15(e) or 15d-15(e)) as of September 30, 2020
−Removed: pursuant to Exchange Act Rule 13a-15.
−Removed: Based upon that evaluation,
−Removed: our Principal Executive Officer and Principal Financial Officer
−Removed: concluded that our disclosure controls and procedures were not
−Removed: effective as of December 31, 2020 in ensuring that information
−Removed: required to be disclosed by us in reports that we file or submit
−Removed: under the Exchange Act is recorded, processed, summarized, and
−Removed: reported within the time periods specified in the SEC’s rules
−Removed: This conclusion is based on findings that constituted
−Removed: material weaknesses.
−Removed: A material weakness is a deficiency, or a
−Removed: combination of control deficiencies, in internal control over
−Removed: financial reporting such that there is a reasonable possibility
−Removed: that a material misstatement of the Company’s interim
−Removed: financial statements will not be prevented or detected on a timely
+Added: We maintain disclosure controls and procedures (as that term is defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) that are designed to ensure that information required to be disclosed in our reports under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms, and that such information is accumulated and communicated to our management, including our principal executive officer and principal financial officer, as appropriate, to allow timely decisions regarding required disclosures.
+Added: In designing disclosure controls and procedures, our management necessarily was required to apply its judgment in evaluating the cost-benefit relationship of possible disclosure controls and procedures.
+Added: The design of any disclosure controls and procedures also is based in part upon certain assumptions about the likelihood of future events, and there can be no assurance that any design will succeed in achieving its stated goals under all potential future conditions.
+Added: Any controls and procedures, no matter how well designed and operated, can provide only reasonable, not absolute, assurance of achieving the desired control objectives.
+Added: Our management, with the participation of our principal executive officer and principal financial officer, has evaluated the effectiveness of the design and operation of our disclosure controls and procedures as of the end of the period covered by this report.
+Added: Based upon that evaluation and subject to the foregoing, our principal executive officer and principal financial officer concluded that, our disclosure controls and procedures were not effective due to the material weaknesses which are indicative of many small companies with small number of staff:
+Added: inadequate segregation of duties consistent with control objectives;
+Added: lack of independent Board of Directors and absence of Audit Committee to exercise oversight responsibility related to financial reporting and internal control;
+Added: lack of risk assessment procedures on internal controls to detect financial reporting risks in a timely manner;
+Added: lack of documentation on policies and procedures that are critical to the accomplishment of financial reporting objectives.
Changes in Internal Control over Financial Reporting
−Removed: were no changes in our internal control over financial reporting
−Removed: during the quarter ended December 31, 2020 that have materially
−Removed: affected, or are reasonably likely to materially affect our
−Removed: internal control over financial reporting.
−Removed: We believe that a
−Removed: control system, no matter how well designed and operated, cannot
−Removed: provide absolute assurance that the objectives of the control
−Removed: system are met, and no evaluation of controls can provide absolute
−Removed: assurance that all control issues and instances of fraud, if any,
−Removed: within any company have been detected.
−Removed: PART II –
−Removed: OTHER INFORMATION
+Added: There have been no changes in our internal control over financial reporting (as defined in Rule 13a-15(f) and 15d-15(f) under the Exchange Act) during our first quarter ended June 30, 2021 that have materially affected, or that are reasonably likely to materially affect, our internal control over financial reporting.
+Added: PART II – OTHER INFORMATION
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.