Item 4. Controls and Procedures
Item
4. Controls and Procedures.
Evaluation
of Disclosure Controls and Procedures
Disclosure
controls are procedures that are designed with the objective of ensuring that information required to be disclosed in our reports under
the Exchange Act, such as this Quarterly Report, is recorded, processed, summarized and reported in accordance with the rules of the
Securities and Exchange Commission (“SEC”). Disclosure controls are also designed with the objective of ensuring that such
information is accumulated appropriately and communicated to management, including the chief executive officer and chief financial officer,
as appropriate, to allow for timely decisions regarding required disclosures.
Our
Chief Executive Officer (our principal executive officer) and our Chief Financial Officer (our principal financial and accounting officer)
evaluated the effectiveness of our “disclosure controls and procedures” (as defined in the Exchange Act Rules 13a-15(e)
and 15d-15(e)) as of July 31, 2023, the end of the period covered by this report. Based on that evaluation, our Chief Executive Officer
and Chief Financial Officer concluded that our disclosure controls and procedures were not effective as of such date to ensure that information
required to be disclosed by us in reports filed or submitted under the Exchange Act were recorded, processed, summarized, and reported
within the time periods specified in the SEC’s rules and forms and that our disclosure controls are not effectively designed to ensure
that information required to be disclosed by us in the reports that we file or submit under the Exchange Act is accumulated and communicated
to management, including our Chief Executive Officer and Chief Financial Officer, or persons performing similar functions, as appropriate
to allow timely decisions regarding required disclosure. See the Company’s Annual Report on Form 10-K for the fiscal year ended
October 31, 2022, for a description of the Company’s material weaknesses in internal control over financial reporting.
Changes
in Internal Controls over Financial Reporting
No
change in our internal control over financial reporting (as defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act) occurred
during the fiscal quarter ended July 31, 2023 that has materially affected, or is reasonably likely to materially affect, the Company’s
internal control over financial reporting.
31
Part
II – OTHER INFORMATION
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.