BVC BitVentures Ltd

“(iii) our lack of inventory aging monitoring mechanisms, leading to inability to track the slow-moving and obsolete inventories, and potential understatement of the provision of inventories”

“(ii) our lack of key monitoring mechanisms such as internal audit department to oversee and monitor our risk management, business strategies and financial reporting procedures”

“The material weaknesses that have been identified relate to (i) our lack of sufficient resources with U.S. GAAP and SEC reporting experience in the accounting department to provide accurate information in a timely manner”

“If we fail to implement and maintain an effective system of internal controls to remediate our material weaknesses in internal control over financial reporting, we may be unable to accurately report our results of operations, meet our reporting obligations or prevent fraud.”