Company: SPPL
Filing Date: 2025-04-08
Form Type: 20-F
Source: 0001641172-25-003217
Chunk: 14

Company: SIMPPLE LTD.
Filing Date: 2025-04-08
Form: 20-F
Item: Item 3
Chunk 14
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 day-to-day
management of our business. We also expect these laws, rules, regulations and standards to make it more expensive for us to obtain director
and officer liability insurance, and we may be required to accept reduced policy limits and coverage or incur substantially higher costs
to obtain the same or similar coverage. As a result, it may be more difficult for us to attract and retain qualified persons to serve
on our Board of Directors or as officers. As a result of the foregoing, we expect a substantial increase in legal, accounting, insurance
and certain other expenses in the future, which will negatively impact our financial performance and could cause our results of operations
and financial condition to suffer. Furthermore, if we are unable to continue to satisfy our obligations as a public company, we could
be subject to delisting of our Shares, fines, sanctions and other regulatory actions and potential civil litigation.

If
we fail to maintain an effective system of disclosure controls and internal controls over financial reporting, our ability to timely
produce accurate financial statements or comply with applicable regulations could be impaired.

The
Sarbanes-Oxley Act requires, among other things, that we maintain effective internal disclosure controls and procedures over our financial
reporting. We are continuing to develop and refine our disclosure controls and other procedures that are designed to ensure that information
required to be disclosed by us in our reports that we will file with the SEC will be recorded, processed, summarized, and reported within
the time periods and as otherwise specified in SEC rules, and that information required to be disclosed in reports under the Exchange Act is
accumulated and communicated to our principal Executive Officers and financial officers. We are also continuing to improve our internal
controls over financial reporting.

Ensuring
that we have effective disclosure controls and procedures and internal controls over financial reporting in place so that we can produce
accurate financial statements on a timely basis is a costly and time-consuming effort that will need to be re-evaluated frequently. Our
internal controls over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial
reporting and the preparation of financial statements in accordance with GAAP. Beginning with our second annual report on Form 20-F
after our securities have been publicly listed in the United States, we will be required, pursuant to Section 404 of the Sarbanes-Oxley
Act, to make a formal assessment of the effectiveness of our internal controls over financial reporting, and once we cease to be an emerging
growth company, we will