Company: VYND
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001079973-25-000779
Chunk: 21

Company: Vynleads, Inc.
Filing Date: 2025-05-12
Form: 10-Q
Item: Item 8
Chunk 21
---
 out an evaluation under the supervision and with the participation
of the Company’s management, including the Company’s Chief Executive Officer and Chief Financial Officer, of the effectiveness
of the Company’s internal control over financial reporting. The Company’s management used the framework in Internal Control-Integrated
Framework (2013) issued by the Committee of Sponsoring Organizations (COSO) to perform this evaluation. As a result of this assessment,
management identified a material weakness in internal control over financial reporting. A material weakness is a control deficiency, or
a combination of deficiencies, in internal control over financial reporting such that there is a reasonable possibility that a material
misstatement of the Company’s annual or interim financial statements will not be prevented or detected on a timely basis. The identified
material weakness is disclosed below:

    ·
    Due to the size of the Company and available resources, there are limited personnel to assist with the accounting and financial reporting function, which results in a lack of segregation of duties.

As a
result of the material weakness in internal control over financial reporting described above, management concluded that, as of March 31,
2025, the Company’s internal control over financial reporting was not effective based on the criteria in Internal Control
– Integrated Framework issued by the COSO. Management notes that upon subsequent funding, the Company expects to have the
available resources in order to hire additional personnel to expand the finance and accounting department in order to mitigate the material
weakness noted above.

This
quarterly report does not include an attestation report of our independent registered public accounting firm regarding internal control
over financial reporting. We were not required to have, nor have we, engaged our independent registered public accounting firm to perform
an audit of internal control over financial reporting pursuant to the rules of the Securities and Exchange Commission that permit us to
provide only management’s report in this annual report. 

Changes in Internal Control Over Financial Reporting

There
were no changes in our internal control over financial reporting in connection with the evaluation required by Rule 13a-15(d) of the Exchange
Act that occurred during the period covered by this Quarterly Report on Form 10-Q that have materially affected, or are reasonably likely
to materially affect, our internal control over financial reporting.

20 

PART II – OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

In 2016 we engaged a third party to provide
certain promotional services to us in connection with our business, including the use of his name and appearance