Company: COOT
Filing Date: 2025-03-31
Form Type: 10-Q
Source: 0001641172-25-001552
Chunk: 26

Company: Australian Oilseeds Holdings Ltd
Filing Date: 2025-03-31
Form: 10-Q
Item: Item 4
Chunk 26
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Evaluation
of Disclosure Controls and Procedures

We
maintain disclosure controls and procedures (as defined in Rule 13a-15(e) under the Exchange Act). Disclosure controls and procedures
refer to controls and other procedures designed to ensure that information required to be disclosed in the reports we file or submit
under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the rules and forms of the
SEC and that such information is accumulated and communicated to our management, including our chief executive officer and chief financial
officer, as appropriate, to allow timely decisions regarding required disclosure.

As
required by Rule 13a-15(e) of the Exchange Act, our management has carried out an evaluation, with the participation and under the supervision
of our chief executive officer and chief financial officer, of the effectiveness of the design and operation of our disclosure controls
and procedures, as of December 31, 2024.

Based
upon, and as of the date of this evaluation, our chief executive officer and chief financial officer determined that, because of the
material weaknesses described in Item 9A “Controls and Procedures” of our Annual Report on Form 10-K/A for the fiscal year
ended June 30, 2024, filed with the SEC on December 6, 2024, and further referenced below, which we are still in the process of remediating
as of December 31, 2024, our disclosure controls and procedures were not effective.

The
Company restated its consolidated balance sheet as of June 30, 2023 (the “2023 Restatement”). For a discussion of the individual
restatement adjustments and the impact of such adjustments on the Company’s previously issued financial statements, see “Item
8., Note 2. Restatement of Previously Issued Financial Statements,” in our 10K lodged for 30 June 2024.

Changes
in Internal Control Over Financial Reporting

This
annual report does not include a report of management’s assessment regarding internal control over financial reporting or an attestation
report of the company’s registered public accounting firm due to a transition period established by rules of the Securities and
Exchange Commission for newly public companies.

32

PART
II
OTHER INFORMATION

ITEM
1. LEGAL PROCEEDINGS.

There
were no material developments during the quarter ended December 31, 2024 to the legal proceedings previously disclosed in Item 3 “Legal
Proceedings” of our Annual Report on Form 10-K