Company: ZRCN
Filing Date: 2025-09-10
Form Type: 10-K
Source: 0001641172-25-027037
Chunk: 786

Company: ZRCN Inc.
Filing Date: 2025-09-10
Form: 10-K
Item: Item 7
Chunk 786
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 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 our internal control over financial reporting during the three months ended March 31, 2025 that has materially
affected, or is reasonably likely to materially affect, our internal control over financial reporting.

ITEM
9B. OTHER INFORMATION

No
officer or director of the Company adopted or terminated a “rule 10b4-1 trading arrangement” or “non-Rule 10b5-1 trading
arrangement,” as each term is defined in Item 408(a) of Regulation S-K.

ITEM
9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Not
applicable.

29

ITEM
10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE

Executive
Officers, Directors and Key Employees

The
following table sets forth the name, age and position of each of our executive officers, key employees and directors as of August 27,
2025. All