Item 1C. Cybersecurity

 

Since the Transaction in December 2023 and as a result of the suspension of our operations relating to the Pre-Existing Business, we have no ongoing operations, activities or full-time employees. We currently use third-party vendors and service providers for legal, accounting, executive services and other activities. We do not currently use a third-party sub-contractor to manage Information Technology (IT) issues, including with respect to protection against, detection, and response to cyberattacks, and have not adopted an Information Technology Policy as a result of our size and the status of our operations.

 

We believe that our third-party vendors and service providers have their own respective cybersecurity protocols which our management believes to be adequate for protecting any of the Company’s data that might be in their possession from time to time.

 

Our sole executive officer and director is responsible for assessing and managing cybersecurity risks, but he does not have specific cybersecurity expertise. We believe that once the Company commences operations, cybersecurity will represent an important component of the Company’s overall approach to risk management and oversight.

 

Cybersecurity threats, have not materially affected, and are not reasonably likely to affect, the Company, including its business strategy, results of operations or financial condition while its operations are suspended. The Company is not aware of any material security breach to date. Accordingly, the Company has not incurred any expenses over the last two years relating to information security breaches. The occurrence of cyber-incidents, or a deficiency in our cybersecurity or in those of any of our third party service providers could negatively impact us by causing a disruption to our operations, if any, a compromise or corruption of our confidential information and systems, or damage to our business relationships or reputation, all of which could negatively impact our business, if any, and results of operations. There can be no assurance that the Company’s third-party vendors’ and service providers’ cybersecurity risk management processes, including its their policies, controls or procedures, will be fully implemented, complied with or effective in protecting the Company’s systems and information.