Company: ZRCN
Filing Date: 2025-09-10
Form Type: 10-K
Source: 0001641172-25-027037
Chunk: 304

Company: ZRCN Inc.
Filing Date: 2025-09-10
Form: 10-K
Item: Item 1A
Chunk 304
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 decisions regarding required disclosure.

Our
management, with the participation of our principal executive officer and principal accounting and financial officer, has evaluated the
effectiveness of our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act), as of the
end of the period covered by this Annual Report on Form 10-K. Based on such evaluation, our principal executive officer and principal
accounting and financial officer has concluded that as of March 31, 2025, our disclosure controls and procedures were not effective as
of such date as a result of material weaknesses in our internal control over financial reporting due to inadequate segregation of duties
within account processes due to limited personnel and insufficient written policies and procedures for accounting, IT and financial reporting
and record keeping. Under the direction of our principal executive officer and principal financial and accounting officer, we are developing
a plan to remediate the material weaknesses.

Management’s
Report on Internal Control Over Financial Reporting

Our
management is responsible for establishing and maintaining adequate internal control over financial reporting as such term is defined
in Exchange Act Rule 13a-15(f). Internal control over financial reporting is a process designed under the supervision and with the participation
of our management, including our principal executive officer and principal financial officer, 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 U.S.. 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.

As
of March 31, 2025, under the supervision and with the participation of our management, including our principal executive officer and
principal financial officer, we conducted an evaluation of the effectiveness of our internal control over financial reporting based on
the framework in Internal Control-Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway
Commission. Based on this assessment, our management concluded that, as of March 31, 2025, our internal control over financial reporting
had material weaknesses that lack adequate segregation of duties within account processes due to limited personnel and insufficient written
policies and procedures for accounting, IT and financial reporting and record keeping and we are implementing plans to improve such internal
control.

Changes
in Internal Control Over Financial Reporting

There
has been no change in