1 unchanged sentence
CYBERSECURITY
−Removed: We review cybersecurity risk as part of our overall risk-management program.
−Removed: This ensures that cybersecurity risk management remains a meaningful priority in our business strategy and operations.
Our risk management strategy for cybersecurity generally includes:
+Added: We periodically assess our risks relating to cybersecurity threats, including risks relating to our reliance on third parties, as part of our overall risk-management efforts and program.
+Added: In so doing, we consider the likelihood and impact that could result from the manifestation of such risks, together with the sufficiency of existing policies, procedures, systems, and safeguards to manage such risks.
Identification :
We aim to proactively identify the manners in which our business could be materially impacted by cybersecurity risks.
−Removed: We periodically assess our risks relating to cybersecurity threats, including risks relating to our reliance on third parties.
−Removed: In so doing, we consider the likelihood and impact that could result from the manifesting of such risks, together with the sufficiency of existing policies, procedures, systems, and safeguards in place to manage such risks.
−Removed: If deemed appropriate, we design and implement reasonable safeguards to address any identified gaps in our existing processes and procedures.
−Removed: We presently do no engage third parties to assist with evaluating the effectiveness of our risk-management and cybersecurity practices.
−Removed: The Company did not have any material cybersecurity breaches during the year ended December 31, 2023.
+Added: If deemed appropriate, we would design and implement reasonable safeguards to address any identified gaps in our existing processes and procedures.
+Added: We presently do not engage third parties to assist us with the assessment, identification or management of cybersecurity risks, or in evaluating the effectiveness of our existing approaches.
+Added: We are unaware of any material cybersecurity breaches during the year ended December 31, 2024, and given that we rely on relatively few and well known well capitalized larger third-party enterprises for certain of our data and information storage and communication needs, we do not believe that an overall material cybersecurity risk presently exists for our business.
Our criteria for determining the materiality of cybersecurity incidents includes assessing potential or actual financial impacts, reputational damage, and operational disruptions.
−Removed: In the event of a cybersecurity incident, all material and known facts would be recorded, including their nature, scope and financial implications;
−Removed: and Form 8-K filings required in relation to any material cybersecurity incident would be prepared and timely filed (with any reasons for delayed disclosures being documented in writing).
−Removed: The Company believes these steps will help ensure compliance with SEC requirements and maintain overall stakeholder confidence in the Company.
The Audit Committee of our Board of Directors is the governance body involved in, and ultimately responsible for, cybersecurity oversight.
−Removed: They will generally coordinate with our Chief Financial Officer in this regard.
−Removed: If needed, the full Board would be updated on cybersecurity risks and incidents.
+Added: They will generally coordinate with our Chief Financial Officer in this regard, with management alerting the committee members to any specific concerns of which management may be aware.
+Added: In the event of a cybersecurity concern or event, our Chief Financial Officer would report the events or his or her concerns to our Audit Committee and full Board of Directors, as well as legal counsel.
None of our directors on the Audit Committee nor our Chief Financial Officer have particular experience in cybersecurity matters.
−Removed: In the event of a cybersecurity concern or event, our incident response approach would have our Chief Financial Officer report to our Audit Committee and full Board of Directors, as well as legal counsel.
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.