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and (2) that such information is accumulated and communicated to management, including the principal executive officer and principal financial officer, to allow timely decisions regarding required disclosures.
−Removed: Consistent with guidance issued by the Securities and Exchange Commission that an assessment of internal controls over financial reporting of a recently acquired business may be omitted from management's evaluation of disclosure controls and procedures, management is excluding an assessment of such internal controls of PDP from its evaluation of the effectiveness of the Company's disclosure controls and procedures.
−Removed: The Company acquired PDP on March 13, 2024.
−Removed: PDP’s net sales included in our consolidated results for the quarter ended March 31, 2024 were approximately $5.9 million.
At the conclusion of the period covered by this Quarterly Report on Form 10-Q, we carried out an evaluation, under the supervision of our Principal Executive Officer (or PEO) and our Principal Financial Officer (or PFO), of the effectiveness of the design and operation of our disclosure controls and procedures.
−Removed: Based upon that evaluation, our PEO and PFO concluded that our disclosure controls and procedures, as defined in Rule 13a-15(e) of the Exchange Act, were effective as of March 31, 2024.
+Added: Based upon that evaluation, our PEO and PFO concluded that our disclosure controls and procedures, as defined in Rule 13a-15(e) of the Exchange Act, were effective as of June 30, 2024.
Changes in Internal Control over Financial Reporting
−Removed: There have been no changes in our internal control over financial reporting during the period covered that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting, except that, as reported above, on March 13, 2024, the Company acquired PDP.
−Removed: As a result, the Company is currently integrating PDP’s operations into its overall system of internal control over financial reporting and, if necessary, will make appropriate changes as it integrates PDP into the Company's overall internal control over financial reporting process.
+Added: There have been no changes in our internal control over financial reporting during the period covered that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting, except that on March 13, 2024, the Company acquired PDP.
+Added: United States Securities and Exchange Commission guidance allows companies to exclude acquisitions from their assessment of the internal control over financial reporting during the first year following an acquisition.
+Added: Company is currently integrating PDP’s operations into its overall system of internal control over financial reporting and, if nasecessary, will make appropriate changes as it integrates PDP into the Company's overall internal control over financial reporting process.
Our process for evaluating controls and procedures is continuous and encompasses constant improvement of the design and effectiveness of established controls and procedures and the remediation of any deficiencies, which may be identified during this process.
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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.