1 unchanged sentence
Conclusions of Management Regarding Effectiveness of Disclosure Controls and Procedures
−Removed: At the end of the period covered by this Quarterly Report on Form 10-Q, an evaluation was carried out under the supervision and with the participation of the Company’s management, including the Co-Principal Executive Officers (“PEO”) and Principal Financial Officer (“PFO”), of the effectiveness of the design and operations of the Company’s disclosure controls and procedures (as defined in Rule 13a – 15(e) and Rule 15d – 15(e) under the Exchange Act).
+Added: At the end of the period covered by this Quarterly Report on Form 10-Q, an evaluation was carried out under the supervision and with the participation of the Company’s management, including the Principal Executive Officer (“PEO”) and Principal Financial Officer (“PFO”), of the effectiveness of the design and operations of the Company’s disclosure controls and procedures (as defined in Rule 13a – 15(e) and Rule 15d – 15(e) under the Exchange Act).
Based on that evaluation, the PEO and the PFO have concluded that our disclosure controls and procedures were not effective in ensuring that:
(i) information required to be disclosed by the Company in reports that it files or submits to the SEC under the Exchange Act is recorded, processed, summarized, and reported within the time periods specified in applicable rules and forms, and (ii) material information required to be disclosed in our reports filed under the Exchange Act is accumulated and communicated to our management, including our principal executive officer and principal financial officer, as appropriate, to allow for accurate and timely decisions regarding required disclosure.
−Removed: Management of the Company believes that these material weaknesses are due to the small size of the Company’s accounting staff.
−Removed: The small size of the Company’s accounting staff may prevent adequate controls in the future, such as segregation of duties, due to the cost/benefit of such remediation.
−Removed: To mitigate the current limited resources and limited employees, we rely heavily on direct management oversight of transactions, along with the use of external accounting and legal professionals.
−Removed: The Company is reviewing various plans to strengthen its internal controls.
+Added: Management of the Company believes that these material weaknesses are more so due to the small size of the Company’s accounting staff.
+Added: To continue to address this matter, in April 2025, the Company hired a management-level employee to lead its deficiency remediation efforts who is experienced in Sarbanes-Oxley compliance and also hired a management-level employee to lead its SEC and other reporting.
+Added: The Company is reviewing additional plans to strengthen its internal controls.
These plans are ongoing and include:
1 unchanged sentence
Changes in Internal Control over Financial Reporting
−Removed: There have been no changes during the quarter ended September 30, 2024 in the Company’s internal controls over financial reporting that have materially affected, or are reasonably likely to materially affect, internal controls over financial reporting.
+Added: There have been no changes during the quarter ended March 31, 2025 in the Company’s internal controls over financial reporting that have materially affected, or are reasonably likely to materially affect, internal controls over financial reporting.
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.