Item 4. Controls and Procedures
ITEM 4 — CONTROLS AND PROCEDURES.
Under the supervision and with the participation of our management, including our Chief Executive Officer and Chief Financial Officer, we conducted an evaluation 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 Securities Exchange Act of 1934, as amended, as of September 30, 2022.
The purpose of this evaluation was to determine whether as of September 30, 2022 our disclosure controls and procedures were effective to provide reasonable assurance that the information we are
required to disclose in our filings with the SEC, (i) is recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms and (ii) accumulated and communicated to our management, including our Chief
Executive Officer and Chief Financial Officer, as appropriate to allow timely decisions regarding required disclosure.
Based on their evaluation, our Chief Executive Officer and Chief Financial Officer have concluded that as of September 30, 2022, our disclosure controls and procedures were effective.
Changes in Internal Control Over Financial Reporting.
Upon identification of our material weakness that resulted in the restatement of our December 31, 2021 consolidated financial statements, we immediately began remediating our internal control over
financial reporting. Specifically, we modified our supervisory review procedures over our tax professionals who perform the accounting and reporting of deferred taxes, to include detailed discussions with our tax professionals of current operations
and changes in accounting standards and tax law that could affect our calculations, and detailed review including walkthrough of infrequent transactions and complex matters affecting deferred tax calculations. We have tested these procedures and
believe the enhanced control is operating effectively. Additionally, our accounting professionals participated in deferred tax training to further enhance the technical ability of our personnel.
We have not experienced any material impact to our internal controls over financial reporting despite the fact that most of our employees are working remotely; we are continually monitoring and
assessing the impact on our internal controls to minimize the impact on their design and operating effectiveness.
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Index
PART II — OTHER INFORMATION
ITEM 1 — LEGAL PROCEEDINGS – (See Note 7 — Litigation in the “Notes to Condensed Consolidated Financial Statements”)
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