What changed in this filing

/stocks — the workspaceLOADING

Item 4. Controls and Procedures

2025-05-15 compared with 2024-11-14 · 15 added, 39 removed, 25 unchanged (68% of the section changed)

8 unchanged sentences

under the supervision and with the participation of our management, including our Chief Executive Officer and Chief Financial Officer,

of the effectiveness of the design and operation of our disclosure controls and procedures, as defined in Rules 13a-15(e) Exchange Act.

Based upon our evaluation, our Chief Executive Officer and Chief Financial Officer concluded that as of the end of the period covered

by this report, our disclosure controls and procedures, as defined in Rule 13a-15(e), were not effective at the reasonable assurance level

due to material weaknesses in our internal control over financial reporting which were disclosed in our 2023 Annual Report.

Our management,

including our Chief Executive Officer and Chief Financial Officer, has also concluded that as of December 31, 2023, March 31, 2024, and

June 30, 2024, our disclosure controls and procedures, as defined in Rule 13a-15(e), were not effective at the reasonable assurance level

due to material weaknesses in our internal control over financial reporting which were disclosed in our 2023 Annual Report.

of the effectiveness of the design and operation of our disclosure controls and procedures, as defined in Rules 13a-15(e) and 15d-15(e)

under the Exchange Act.

Based upon our evaluation, our Chief Executive Officer and Chief Financial Officer concluded that as of March 31,

2025 our disclosure controls and procedures ensuring that information that 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 the SEC rules and forms, were

ineffective, due to a material weakness related to Information Technology General Control area.

Material Weakness in Internal Control over Financial Reporting

1 unchanged sentence

and Procedures of our 2024 Annual Report, our management identified the following material weaknesses in our internal control over

financial reporting:

• Inadequate design of user access provisioning/deprovisioning controls and inadequate segregation of

duties on certain controls or processes;

• Lack of specialized experts related to income tax areas;

• Inappropriate application of accounting standards related to warrant modifications

Notwithstanding the identified

material weaknesses, our management believes the unaudited condensed financial statements included in this Form 10-Q fairly present, in

all material respects, our financial condition, results of operations and cash flows as of and for the periods presented in accordance

Plan to Remediate the Material Weakness

We continue to be committed

to maintaining a strong internal control environment.

In response to the identified material weaknesses, management has taken comprehensive

actions to strengthen its internal controls and has been and continues to implement measures designed to ensure that control deficiencies

contributing to the material weakness are remediated.

Our plans for remediation

include, but are not limited to, the efforts summarized below, which have been or are in the process of being implemented:

• Enhanced procedures for formal documented review and approval of journal entries;

• Reorganized the accounting team members to ensure proper segregation of duties;

• Implemented core financial reporting and financial close software systems;

• Performed risk assessment procedures and improved the documentation of internal processes and controls;

• Improved documentation over complex financial transactions;

• Implemented additional procedures over assessment of cybersecurity and information technology general

• Increase the extent of oversight and verification checks included in operation of user access controls

and processes;

• Continue to enhance review over financial reporting, financial operations, internal controls including

segregation of duties;

as well as improve tax analysis and fair value estimates.

We will not be able to conclude

whether these efforts will fully remediate the material weakness until the updated process has operated for a sufficient period of time

and management has concluded, through testing, that such controls are operating effectively.

financial reporting, which is observed in many small companies with a small number of accounting and financial reporting staff:

· Inadequate design

of user access provisioning/deprovisioning controls and inadequate segregation of duties on certain controls or processes, related to

our information technology general controls (ITGC).

The management has discussed

this matter and developed a remediation plan including transitioning some of the administrative responsibilities to a third-party service

We remain committed to completing the final phase of our remediation plan in the second quarter of 2025 and strengthening our

overall control environment.

Changes in Internal Control over Financial

1 unchanged sentence

efforts described above, there was no change in our internal controls over financial reporting that occurred during the quarter ended

September 30, 2024 that has materially affected, or is reasonably likely to materially affect, our internal control over financial

March 31, 2025 that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

Inherent Limitations over Internal Controls

9 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