Company: PDEX
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001079973-25-000729
Chunk: 33

Company: PRO DEX INC
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 8
Chunk 33
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 defined in Rules 13a-15(e) and 15d-15(e) under the Exchange
Act means controls and other procedures of a company
that are designed to ensure that
information required to be disclosed by the
Company in the reports it files or submits under the Exchange Act is recorded, processed,
summarized and reported, within the time periods specified
in the SEC’s rules and forms. Disclosure controls and procedures also include, without limitation, controls and procedures designed
to ensure that information required to be disclosed by a company
in the reports that it files or submits under the Exchange Act
is accumulated and communicated to the company’s management, including its principal
executive and principal financial officers, or persons performing similar functions, as appropriate, to allow timely decisions regarding
required disclosure.

In accordance with SEC
rules, an evaluation was performed under the supervision and with the participation of our Principal Executive Officer and Principal Financial
Officer of the effectiveness, as of March 31, 2025, of the Company’s disclosure controls and procedures (as defined in Rule
13a-15(e) under the Exchange Act). “Internal control over financial reporting” includes those policies and procedures that:

(1)pertain to the maintenance of records that in reasonable detail
accurately and fairly reflect the transactions and dispositions of the assets of the issuer;

(2)provide reasonable assurance that transactions are recorded
as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts
and expenditures of the issuer are being made only in accordance with authorizations of management and directors of the issuer; and

(3)provide reasonable assurance regarding prevention or timely
detection of unauthorized acquisition, use or disposition of the issuer’s assets that could have a material effect on the financial
statements.

A
material weakness is a deficiency, or combination of deficiencies, in internal control over financial reporting, such that there is a
reasonable possibility that a material misstatement of a company’s annual and interim financial statements will not be detected
or prevented on a timely basis. A material weakness was discovered relating to controls related to the existence of inventory during fiscal
2024 and we are continuing to remediate this weakness. While we believe that our inventory exists and is accurately recorded and properly
valued at March 31, 2025, we are continuing to expand our internal controls over the existence of inventory and hired a warehouse manager
in the second quarter of fiscal 2025 to ensure that we successfully implement effective standard