Company: NEOV
Filing Date: 2025-02-07
Form Type: 10-Q
Source: 0001683168-25-000834
Chunk: 61

Company: NeoVolta Inc.
Filing Date: 2025-02-07
Form: 10-Q
Item: Part I, Item 2
Chunk 61
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 Exchange Commission pursuant to the Exchange Act, is recorded, processed, summarized and
reported within the time periods specified in the rules and forms of the Commission and that such information is accumulated and communicated
to our management, including our Chief Executive Officer, who is our principal executive officer, and Chief Financial Officer, who is
our principal financial and accounting officer, to allow timely decisions regarding required disclosures.

As of December 31, 2024, our
Chief Executive Officer and Chief Financial Officer evaluated the effectiveness of the design and operation of our disclosure controls
and procedures (as defined in Rules 13a-15(e) and 15d-15(e) of the Exchange Act). Based on that evaluation, our Chief Executive Officer
and Chief Financial Officer have concluded that, as a result of the material weakness relating to the lack of segregation of duties, our
disclosure controls and procedures as of the end of the period covered by this Quarterly Report were not effective. Due to our size and
nature, segregation of all conflicting duties may not always be possible and may not be economically feasible. We will be required to
hire additional personnel in order to remediate our material weakness.

Limitations on Effectiveness of Controls and
Procedures

In designing and evaluating
the disclosure controls and procedures, management recognizes that any controls and procedures, no matter how well designed and operated,
can provide only reasonable assurance of achieving the desired control objectives. In addition, the design of disclosure controls and
procedures must reflect the fact that there are resource constraints and that management is required to apply its judgment in evaluating
the benefits of possible controls and procedures relative to their costs.

Changes in Internal Controls over Financial
Reporting

There was no change in our
internal controls over financial reporting that occurred during the quarter ended December 31, 2024, that has materially affected, or
is reasonably likely to materially affect, our internal controls over financial reporting.

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PART II. OTHER INFORMATION

ITEM 1.LEGAL PROCEEDINGS

Although we may, from time
to time, be involved in litigation and claims arising out of our operations in the normal course of business, we are not currently a party
to any material legal proceeding. In addition, we are not aware of any material legal or governmental proceedings against us, or contemplated
to be brought against us.

ITEM 1A.RISK FACTORS

There have been no material
changes from the risk factors previously disclosed in Part I, Item 1A of the Company’s Annual