Company: DREM
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004861
Chunk: 325

Company: Dream Homes & Development Corp.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 4
Chunk 325
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 Company’s CEO and CFO, as appropriate, to allow timely decisions regarding required disclosure.

(b)
Management’s Report on Internal Control over Financial Reporting

The
Company’s management is responsible for establishing and maintaining adequate internal control over financial reporting. Internal
control over financial reporting is defined in Rule 13a-15(f) or 15d-15(f) promulgated under the Securities Exchange Act of 1934 as a
process designed by, or under the supervision of, the company’s principal executive and principal financial officers and effected
by the company’s board of directors, management and other personnel, to provide reasonable assurance regarding the reliability
of financial reporting and the preparation of financial statements for external purposes in accordance with accounting principles generally
accepted in the United States of America and includes those policies and procedures that:

●Pertain
                                            to the maintenance of records that in reasonable detail accurately and fairly reflect the
                                            transactions and dispositions of the assets of the company; 

●Provide
                                            reasonable assurance that transactions are recorded as necessary to permit preparation of
                                            financial statements in accordance with accounting principles generally accepted in the United
                                            States of America and that receipts and expenditures of the company are being made only in
                                            accordance with authorizations of management and directors of the company; and  

●Provide
                                            reasonable assurance regarding prevention or timely detection of unauthorized acquisition,
                                            use or disposition of the company’s assets that could have a material effect on the
                                            financial statements.

Because
of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Projections of any evaluation
of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that
the degree of compliance with the policies or procedures may deteriorate. All internal control systems, no matter how well designed,
have inherent limitations. Therefore, even those systems determined to be effective can provide only reasonable assurance with respect
to financial statement preparation and presentation. Because of the inherent limitations of internal control, there is a risk that material
misstatements may not be prevented or detected on a timely basis by internal control over financial reporting. However, these inherent
limitations are known features of the financial reporting process. Therefore, it is possible to design into the process safeguards to
reduce, though not eliminate, this risk.

22

As
of December 31, 2024, management assessed the effectiveness of the Company’s internal control over financial reporting based on
the criteria for effective internal control over financial reporting established