SQNM » Topics » Evaluation of Disclosure Controls and Procedures

This excerpt taken from the SQNM 10-Q filed Nov 9, 2005.

Evaluation of Disclosure Controls and Procedures

 

We maintain disclosure controls and procedures that are designed to ensure that information required to be disclosed by us in reports we file or submit under the Securities Exchange Act of 1934 is recorded, processed, summarized and reported on a timely basis and that such information is accumulated and communicated to management, including our principal executive officer and our principal financial officer, as appropriate, to allow for timely decisions regarding required disclosure.

 

We carry out an evaluation, under the supervision and with the participation of our management, including our principal executive officer and our principal financial officer, of the effectiveness of the design and operation of disclosure controls and procedures as of the end of each quarterly and annual period pursuant to Exchange Act Rule 13a-15.

 

Based upon our evaluation prior to the filing of our annual report on Form 10-K, our management concluded that our disclosure controls and procedures were not effective as of December 31, 2004 because of material weaknesses in internal control over financial reporting, as described below in “Internal Control over Financial Reporting.”

 

Further, based upon our evaluation prior to the filing of this quarterly report, our principal executive officer and principal financial officer have concluded that our disclosure controls and procedures were still not effective as of September 30, 2005 to provide reasonable assurance that financial information we are required to disclose in our reports under the Securities Exchange Act of 1934 was recorded, processed, summarized and reported accurately.

 

Since December 31, 2004, our management has been reviewing and evaluating the disclosure controls and procedures with the goal of strengthening such controls and procedures as expeditiously as possible. These efforts are discussed in more detail below in “Remediation Plan.” Our management believes that the changes in internal controls discussed below have remedied our material weaknesses. However, we cannot conclude that these weaknesses have been fully eliminated until we perform our 2005 internal controls testing.

 

While our management’s efforts to evaluate, test and enhance disclosure controls and procedures are ongoing, our management believes that the condensed consolidated financial statements included in this quarterly report present fairly in all material respects the financial condition and results of operations for the company for the periods presented.

 

This excerpt taken from the SQNM 10-Q filed Aug 9, 2005.

Evaluation of Disclosure Controls and Procedures

 

We maintain disclosure controls and procedures that are designed to ensure that information required to be disclosed by us in reports we file or submit under the Securities Exchange Act of 1934 is recorded, processed, summarized and reported on a timely basis and that such information is accumulated and communicated to management, including our principal executive officer and our principal financial officer, as appropriate, to allow for timely decisions regarding required disclosure.

 

We carry out an evaluation, under the supervision and with the participation of our management, including our principal executive officer and our principal financial officer, of the effectiveness of the design and operation of disclosure controls and procedures as of the end of each quarterly and annual period pursuant to Exchange Act Rule 13a-15.

 

Based upon our evaluation prior to the filing of our annual report on Form 10-K, our management concluded that our disclosure controls and procedures were not effective as of December 31, 2004 because of material weaknesses in internal control over financial reporting, as described below in “Internal Control over Financial Reporting.”

 

Further, based upon our evaluation prior to the filing of this quarterly report, our principal executive officer and principal financial officer have concluded that our disclosure controls and procedures were still not effective as of June 30, 2005 to provide reasonable assurance that financial information we are required to disclose in our reports under the Securities Exchange Act of 1934 was recorded, processed, summarized and reported accurately.

 

Since December 31, 2004, our management has been reviewing and evaluating the disclosure controls and procedures with the goal of strengthening such controls and procedures as expeditiously as possible. These efforts are discussed in more detail below in “Remediation Plan.” Our management believes that the changes in internal controls discussed below have remedied our material weaknesses. However, we cannot conclude that these weaknesses have been fully eliminated until we perform our 2005 internal controls testing.

 

While our management’s efforts to evaluate, test and enhance disclosure controls and procedures are ongoing, our management believes that the condensed consolidated financial statements included in this quarterly report present fairly in all material respects the financial condition and results of operations for the company for the periods presented.

 

This excerpt taken from the SQNM 10-Q filed May 10, 2005.

Evaluation of Disclosure Controls and Procedures

 

We maintain disclosure controls and procedures that are designed to ensure that information required to be disclosed by us in reports we file or submit under the Securities Exchange Act of 1934 is recorded, processed, summarized and reported on a timely basis and that such information is accumulated and communicated to management, including our principal executive officer who is also our principal financial officer, as appropriate, to allow for timely decisions regarding required disclosure.

 

We carry out an evaluation, under the supervision and with the participation of our management, including our principal executive officer who is also our principal financial officer, of the effectiveness of the design and operation of disclosure controls and procedures as of the end of each quarterly and annual period pursuant to Exchange Act Rule 13a-15.

 

Based upon our evaluation prior to the filing of our annual report on Form 10-K, our management concluded that our disclosure controls and procedures were not effective as of December 31, 2004 because of material weaknesses in internal control over financial reporting, as described below in “Internal Control over Financial Reporting.”

 

Further, based upon our evaluation prior to the filing of this quarterly report, our principal executive officer and principal financial officer have concluded that our disclosure controls and procedures were still not effective as of March 31, 2005 to provide reasonable assurance that financial information we are required to disclose in our reports under the Securities Exchange Act of 1934 was recorded, processed, summarized and reported accurately.

 

Since December 31, 2004, our management has been reviewing and evaluating the disclosure controls and procedures with the goal of strengthening such controls and procedures as expeditiously as possible. These efforts are discussed in more detail below in “Remediation Plan.” Our management believes we must further evaluate and test the operational effectiveness of our disclosure controls and procedures and further evaluate whether additional enhancements to disclosure controls and procedures may be required prior to reaching further conclusions regarding the effectiveness of our disclosure controls and procedures.

 

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While our management’s efforts to evaluate, test and enhance disclosure controls and procedures are ongoing, our management believes that the condensed consolidated financial statements included in this quarterly report present fairly in all material respects the financial condition and results of operations for the company for the periods presented.

 

This excerpt taken from the SQNM 10-K filed Apr 29, 2005.

Evaluation of Disclosure Controls and Procedures

 

Under the supervision and with the participation of our management, including our principal executive officer who is also our principal financial officer, we conducted an evaluation of the effectiveness of design and operation of our disclosure controls and procedures as of the end of the fiscal year ended December 31, 2004. Based on this evaluation and due to material weaknesses in internal control over financial reporting described below in “Management’s Report on Internal Control over Financial Reporting,” our principal executive officer and principal financial officer concluded that our disclosure controls and procedures were not effective to provide reasonable assurance that financial information we are required to disclose in our reports under the Securities Exchange Act of 1934 was recorded, processed, summarized and reported accurately.

 

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