Company: KWIK
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001683168-25-003684
Chunk: 40

Company: KwikClick, Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 2
Chunk 40
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) accumulated and communicated
to our management, including our principal executive officer and principal financial officer, as appropriate, to allow timely decisions
regarding required disclosure. Based on this evaluation, our management concluded that, as of March 31, 2025, our internal control over
financial reporting was not effective due to (i) insufficient segregation of duties in the finance and accounting functions due to limited
personnel; and (ii) inadequate corporate governance policies. In the future, subject to working capital limitations, we intend to take
appropriate and reasonable steps to make improvements to remediate these deficiencies.

Changes in Internal Control Over Financial Reporting

There have not been any changes
in our internal control over financial reporting (as such term is defined in Rules 13a-15(f) under the Exchange Act) during the fiscal
period to which this report relates that have materially affected, or are reasonably likely to materially affect, our internal control
over financial reporting.

Inherent Limitations of the
Effectiveness of Internal Controls

A control system, no matter how
well conceived and operated, can provide only reasonable, not absolute, assurance that the objectives of the internal control system are
met. Because of the inherent limitations of any internal control system, no evaluation of controls can provide absolute assurance that
all control issues, if any, within a company have been detected.

 16 

PART II. OTHER INFORMATION

Item 1. Legal Proceedings

There has been no change in our
legal proceedings as disclosed in our annual report on Form 10-K as filed with the Securities and Exchange Commission on March 31, 2025.

Item 1A. Risk Factors

The Risk Factors identified in
our Annual Report on Form 10-K for the year ended December 31, 2024, which was filed on March 31, 2025, continue to represent the most
significant risks to the Company’s future results of operations and financial condition.

Item 2. Unregistered Sales of Equity Securities

There were no unregistered sales
of equity securities not previously disclosed.

Item 3. Defaults Upon Senior Securities

None.

Item 4. Mine Safety Disclosures

Not Applicable.

Item 5. Other Information

During the quarter ended March
31, 2025, no director or officer adopted or terminated any Rule 10b5-1 trading arrangement or non-Rule 10b5-1 trading arrangement, as
each term is defined in Item 408(a) of Regulation S-K.