Company: CBLO
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001882781-25-000034
Chunk: 75

Company: C2 Blockchain, Inc.
Filing Date: 2025-09-29
Form: 10-K
Item: Item 9A
Chunk 75
---
, in internal control over financial reporting that results
in more than a remote likelihood that a material misstatement of the annual or interim financial statements will not be prevented or
detected. As a result of the determination that there was a lack of resources to provide segregation of duties consistent with control
objectives, the lack of a formal audit committee, and the lack of a formal review process that includes multiple levels of review over
financial disclosure and reporting processes, our sole officer and director, Mr. Jacobson, has determined that material weaknesses existed
as of June 30, 2025. 

The
weaknesses and the related risks are not uncommon in a company of our size because of the limitations in the size and number of our staff.
To address these material weaknesses, and subject to the receipt of additional financing or cash flows, we intend to undertake remediation
measures to address the material weaknesses described in this Report, including implementing procedures pursuant to which we can ensure
segregation of duties and hire additional resources to ensure appropriate review and oversight.

A
control system, no matter how well conceived and operated, can provide only reasonable, not absolute, assurance that the objectives of
the control system are met under all potential conditions, regardless of how remote, and may not prevent or detect all errors and all
fraud. Because of the inherent limitations in all control systems, no evaluation of controls can provide absolute assurance that all
control issues, if any, within the Company have been detected. These inherent limitations include the realities that judgments in decision-making
can be faulty and that breakdowns can occur because of a simple error or mistake. Our internal control over financial reporting is designed
to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external
purposes in accordance with generally accepted accounting principles.

Auditor’s
Report on Internal Control Over Financial Reporting

This
Report does not include an attestation report of our independent registered public accounting firm regarding internal control over financial
reporting. The report of our sole officer and director, Levi Jacobson, was not subject to attestation by our independent registered public
accounting firm pursuant to the rules of the SEC that permit us to provide only management’s report in this Report.

Changes
in Internal Control Over Financial Reporting

There
have been no changes in our internal control over financial reporting (as that term is defined in Rules 13(a)-15(f) and 15(d)-15(f) of
the Exchange Act) that have occurred