Company: CDT
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010405
Chunk: 146

Company: CDT Equity Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 2
Chunk 146
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 a smaller reporting company
even after we are no longer an emerging growth company. We may take advantage of certain of the scaled disclosures available to smaller
reporting companies and will be able to take advantage of these scaled disclosures for so long as (i) Conduit’s voting and non-voting
common stock held by non-affiliates is less than $250.0 million measured on the last business day of our second fiscal quarter or (ii)
Conduit’s annual revenue is less than $100.0 million during the most recently completed fiscal year and its voting and non-voting
common stock held by non-affiliates is less than $700.0 million measured on the last business day of its second fiscal quarter.

Item
3. Quantitative and Qualitative Disclosures About Market Risk.

As
a smaller reporting company, we are not 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 March 31, 2025 and for the comparison
fiscal quarter ended March 31, 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 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.

37

PART
II - OTHER INFORMATION

Item
1. Legal Proceedings.

Other
than as set