ITEM 1C. CYBERSECURITY

 

To optimize our information security management system, we undertake periodic updates as deemed appropriate. We incorporate relevant standards and frameworks to facilitate monitoring of compliance with regulatory, industry, and evolving data privacy requirements. Additionally, we engage in ongoing monitoring of our IT systems and processes to promptly identify and address actual and potential threats. Our approach includes regular adjustments to systems, procedures, and policies in response to identified threats and risks. This adaptive strategy ensures our resilience against emerging security challenges.

 

Our organizational prioritize on addressing cybersecurity risks, with management playing a central role in assessing and managing these risks. Our internal processes mandate the escalation of significant cybersecurity risks to executive leadership, as well as to management and committees responsible for preventing, detecting, mitigating, and remedying cybersecurity incidents. These processes ensure consistent and effective incident handling and response, establishing standards for internal notifications and escalations. Moreover, they outline considerations for external notifications, including disclosure or notification requirements to state and/or federal agencies or affected customers in the event of a cybersecurity incident. This structured approach reinforces our commitment to robust cybersecurity governance and risk management practices.

 

As of December 31, 2023, the Company has not identified any cybersecurity threats, including previous incidents, that have materially impacted our business strategy, results of operations, or financial condition. This assertion signifies our diligent efforts in managing and mitigating cybersecurity risks, contributing to the stability and continuity of our operations.