Item 1B. Unresolved Staff Comments
ITEM 1B. UNRESOLVED
STAFF COMMENTS
None
ITEM 1C. CYBERSECURITY
We acknowledge the increasing
importance of cybersecurity in today’s digital and interconnected world. Cybersecurity threats pose significant risks to the integrity
of our systems and data, potentially impacting our business operations, financial condition and reputation.
As a smaller reporting
company, we currently do not have formalized cybersecurity measures, a dedicated cybersecurity team or specific protocols in place to
manage cybersecurity risks. Our approach to cybersecurity is in the developmental stage, and we have not yet conducted comprehensive risk
assessments, established an incident response plan or engaged with external cybersecurity consultants for assessments or services.
We have not experienced
any significant cybersecurity incidents to date. However, we recognize that the absence of a formalized cybersecurity framework may leave
us vulnerable to cyberattacks, data breaches and other cybersecurity incidents. Such events could potentially lead to unauthorized access
to, or disclosure of, sensitive information, disrupt our business operations, result in regulatory fines or litigation costs and negatively
impact our reputation among investors, shareholders, customers and partners.
We are in the process
of evaluating our cybersecurity needs and developing appropriate measures to enhance our cybersecurity posture. This includes considering
the engagement of external cybersecurity experts to advise on best practices, conducting vulnerability assessments and developing an incident
response strategy. Our goal is to establish a cybersecurity framework that is commensurate with our size, complexity and the nature of
our operations, thereby reducing our exposure to cybersecurity risks.
In addition, our Board of Directors (the “Board”) will
oversee any cybersecurity risk management framework and a dedicated committee of the Board or an officer appointed by the Board will review
and approve any cybersecurity policies, strategies and risk management practices.
Despite our efforts to
improve our cybersecurity measures, there can be no assurance that our initiatives will fully mitigate the risks posed by cyber threats.
The landscape of cybersecurity risks is constantly evolving, and we will continue to assess and update our cybersecurity measures in response
to emerging threats.
For a discussion of potential
cybersecurity risks affecting us, please refer to the “Risk Factors” section of this Annual Report.
24
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.