Company: CDT
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024140
Chunk: 142

Company: CDT Equity Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 142
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 required to provide disclosure regarding quantitative and qualitative market risk.

Item
4. Controls and Procedures.

Evaluation
of Disclosure Controls and Procedures

Disclosure
controls and procedures are designed to ensure that information required to be disclosed by us in our Exchange Act reports is recorded,
processed, summarized, and reported within the time periods specified in the SEC’s rules and forms, and that such information is
accumulated and communicated to our management, including our principal executive officer and principal financial officer or persons
performing similar functions, as appropriate to allow timely decisions regarding required disclosure.

Under
the supervision and with the participation of our principal executive officer and principal financial officer, we conducted an
evaluation of the effectiveness of our disclosure controls and procedures as of the end of the fiscal quarter ended June 30, 2025
and for the comparison fiscal quarter ended June 30, 2024, as such term is defined in Rules 13a-15(e) and 15d-15(e) under the
Exchange Act. Based on this evaluation, our principal executive officer and principal financial officer concluded that during the
periods covered by this Quarterly Report, our disclosure controls and procedures were not effective, due to material weaknesses
previously identified and included in the Company’s most recent Form 10-K as not yet remediated as of the end of both such
periods.

Changes
in Internal Control over Financial Reporting

There
have been no changes to in our internal control over financial reporting (as such term is defined in Rules 13a-15(f) and 15d-15(f) of
the Exchange Act) during the most recent fiscal quarter.

On
April 12, 2025, Dr. David Tapolczay’s resignation as Chief Executive Officer of the Company became effective. Dr. Tapolczay’s
resignation was not due to any disagreement with management or the Company’s operations, policies or practices. Effective April
15, 2025, the Board appointed Dr. Andrew Regan, as Chief Executive Officer.

41

PART
II - OTHER INFORMATION

Item
1. Legal Proceedings.

The
Company is subject to certain claims and contingent liabilities that arise in the normal course of business. While we do not expect that
the ultimate resolution of any of these pending actions will have a material effect on our consolidated results of operations, financial
position or cash flows, litigation is subject to inherent uncertainties. As such, there can be no assurance that any pending legal action,
does not become material in