What changed in this filing

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Item 4. Controls and Procedures

2024-08-16 compared with 2024-05-13 · 33 added, 16 removed, 6 unchanged (89% of the section changed)

1 unchanged sentence

of disclosure controls and procedures.

management, with the participation of our Chief Executive Officer and Chief Financial Officer, evaluated the effectiveness of

our disclosure controls and procedures pursuant to Rule 13a-15 under the Securities Exchange Act of 1934 as of the end of the

period covered by this Quarterly Report on Form 10-Q.

In designing and evaluating the disclosure controls and procedures, management

recognizes that any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of

achieving the desired control objectives.

In addition, the design of disclosure controls and procedures must reflect the fact

that there are resource constraints, and that management is required to apply its judgment in evaluating the benefits of possible

controls and procedures relative to their costs.

on our evaluation, our Chief Executive Officer and Chief Financial Officer concluded that, as of March 31, 2024, our disclosure

controls and procedures are designed at a reasonable assurance level and are effective to provide reasonable assurance that information

we are required to disclose in reports that we file or submit under the Exchange Act is recorded, processed, summarized, and reported

within the time periods specified in SEC rules and forms, and that such information is accumulated and communicated to our management,

including our Chief Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding required

disclosure controls and procedures that are designed to provide reasonable assurance that material information required to be disclosed

in our periodic reports filed under the Exchange Act is recorded, processed, summarized, and reported within the time periods specified

in the SEC’s rules and forms and to provide reasonable assurance that such information is accumulated and communicated to our management,

our principal executive officer and our principal financial officer, to allow timely decisions regarding required disclosure.

Our management,

with the participation of our Chief Executive Officer and our Chief Financial Officer, has evaluated the effectiveness of our disclosure

controls and procedures (as defined in Rule 13a-15(e) of the Exchange Act, as amended) as of the end of the period covered by this report.

In designing and evaluating the disclosure controls and procedures, management recognizes that any controls and procedures, no matter

how well designed and operated, can provide only reasonable assurance of achieving the desired control objectives.

In addition, the design

of disclosure controls and procedures must reflect the fact that there are resource constraints, and that management is required to apply

its judgment in evaluating the benefits of possible controls and procedures relative to their costs.

Based on that evaluation, our Chief

Executive Officer and our Chief Financial Officer concluded that our disclosure controls and procedures as of the end of the period covered

by this report were not effective as of June 30, 2024 due to the material weakness described below.

weakness is a deficiency, or combination of deficiencies, in internal control over financial reporting, such that there is a reasonable

possibility that a material misstatement of the annual or interim consolidated financial statements will not be prevented or detected

on a timely basis.

not maintain an effective control environment over the internal control activities to ensure the proper recognition and measurement

related to the accounting for complex and non-routine transactions.

We did not have adequate supervision and review controls over

the complex accounting related to the non-cash impairment of intangibles, non-cash equity transactions and the recoverability of

As a result, management review of asset impairment calculations did not identify errors in the associated cash flow

projections which lead to an error in the conclusion of the initial impairment assessment.

We also did not properly assess the

realizability of inventory based upon the projections utilized and our assessment of an amendment to existing warrants that were

reclassified into equity in the same period did not include a quantitative evaluation of the potential materiality of revaluation

of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements.

Also, projections of any

evaluation of effectiveness to future periods are subject to the risks that controls may become inadequate because of changes in conditions,

or that the degree of compliance with the policies or procedures may deteriorate.

in internal control over financial reporting.

were no changes in our internal control over financial reporting that occurred during the quarter ended March 31, 2024, that have

materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

were no changes in our internal control over financial reporting that occurred during the quarter ended June 30, 2024 that have materially

affected, or are reasonably likely to materially affect, our internal control over financial reporting.

II - OTHER INFORMATION

2 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