What changed in this filing

/stocks — the workspaceLOADING

Item 4. Controls and Procedures

2024-08-14 compared with 2024-05-20 · 32 added, 26 removed, 2 unchanged (97% of the section changed)

Controls and Procedures

of Disclosure Controls and Procedures

of the end of the period covered by this report, our principal executive officer and principal financial officer evaluated the effectiveness

of our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act).

Based on their evaluation

of our disclosure controls and procedures, our principal executive officer and principal financial officer concluded that our disclosure

controls and procedures were not effective as of March 31, 2024, to ensure that information required to be disclosed by the Company in

the reports that we file or submit under the Exchange Act is (a) recorded, processed, summarized and reported within the time periods

specified in the SEC’s rules and forms and (b) accumulated and communicated to management, including our principal executive officer

and principal financial officer, as appropriate to allow for timely decisions regarding required disclosure.

of Material Weakness

has concluded that the Company’s disclosure controls and procedures were not effective as of March 31, 2024, due to the failure

to report disclosures on a timely basis.

of Material Weakness

has developed a plan and related timeline for the Company to design a set of control procedures and the related required documentation

thereof in order to address this material weakness.

However, its implementation was delayed as a decline in commodity prices caused the

Company to pursue aggressive cost cutting and de-staffing which has increasingly concentrated duties on the remaining staff.

Company has the proper staff in place, it likely will not be able to remediate its material weaknesses.

in Internal Control over Financial Reporting

have been no changes in our internal control over financial reporting identified in connection with the evaluation required by paragraph

(d) of Rules 13a-15 or 15d-15 under the Exchange Act that occurred during the Company’s first fiscal quarter that have materially

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

II – OTHER INFORMATION

Evaluation of Disclosure Controls and Procedures

As of the end of the period covered by this report,

our principal executive officer and principal financial officer evaluated the effectiveness 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 (the “Exchange Act”)).

Based on their evaluation of our disclosure controls and procedures, our principal executive officer and principal financial officer concluded

that our disclosure controls and procedures were not effective as of June 30, 2024, to ensure that information required to be disclosed

by the Company in the reports that we file or submit under the Exchange Act is (a) recorded, processed, summarized and reported within

the time periods specified in the SEC’s rules and forms and (b) accumulated and communicated to management, including our principal

executive officer and principal financial officer, as appropriate to allow for timely decisions regarding required disclosure.

Our management is responsible for establishing

and maintaining adequate internal control over financial reporting.

Internal control over financial reporting is a process designed under

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

reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes

in accordance with accounting principles generally accepted in the United States of America.

Based on this evaluation, our chief executive

officer and chief financial officer have concluded that during the period covered by this report, our disclosure controls and procedures

were not effective, due to our identified material weaknesses in internal control over financial reporting.

Based upon its assessment, as of June 30, 2024,

management has identified the following material weaknesses in its internal control over financial reporting, inclusive of the control

weakness related to disclosure controls and procedures:

The lack of sufficient dedicated accounting personnel, resulting in delays around the timely collection of inputs and the preparation and review of financial reporting, as well as the inability to provide for effective segregation of duties, and

The lack of formal documentation of the design of the control environment and the related control processes and procedures.

Changes in Internal Control over Financial

There have been no changes in our internal control

over financial reporting identified in connection with the evaluation required by paragraph (d) of Rules 13a- 15 or 15d-15 under the Exchange

Act that occurred during the Company’s second fiscal quarter that have materially affected, or are reasonably likely to materially

affect, our internal control over financial reporting.

PART II – OTHER INFORMATION

Legal Proceedings

the opinion of management, we are not involved in any claims, legal actions or regulatory proceedings as of March 31, 2024, the ultimate

disposition of which would have a material adverse effect on our condensed interim consolidated financial position, results of operations,

or cash flows.

In the opinion of management, we are not involved

in any claims, legal actions or regulatory proceedings as of June 30, 2024, the ultimate disposition of which would have a material adverse

effect on our condensed interim consolidated financial position, results of operations, or cash flows.

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