Company: SATT
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001683168-25-002119
Chunk: 561

Company: SATIVUS TECH CORP.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 7
Chunk 561
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 with respect to financial statement presentation. Further, because of changes in conditions, the effectiveness
of internal control over financial reporting may vary over time.

In order to ensure that our internal control over
financial reporting is effective, management regularly assesses controls and did so most recently for its financial reporting as of December
31, 2024.

A material weakness is a 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 material weaknesses identified are described
below.

Procedures for Control Evaluation.
Management has not established with appropriate rigor the procedures for evaluating internal controls over financial reporting. Due to
limited resources and lack of segregation of duties, documentation of the limited control structure has not been accomplished.

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Lack of Audit Committee. To date,
the Company has not established an Audit Committee. It is management’s view that such a committee, including a financial expert,
is an utmost important entity level control over the financial reporting process.

Insufficient Documentation of Review Procedures
We employ policies and procedures for reconciliation of the financial statements and note disclosures.

Insufficient Information Technology Procedures.
Management has not established methodical and consistent data back-up procedures to ensure loss of data will not occur.

As a result of the management evaluation of company
internal control over financial reporting described above, the Company’s management has concluded that, as of December 31, 2024,
the Company’s internal control over financial reporting was not based on the criteria in Internal Control – Integrated Framework
issued by COSO.

This Annual 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

As of the end of the period covered by this report,
there have been no changes in internal control over financial reporting (as defined in Rule 13a-15(f) of the Exchange Act) during the
year ended December 31, 2024, that materially affected, or are reasonably likely to materially affect, the Company’s internal control
over financial reporting.

Item 9B. Other Information.

During the