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Ite m 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure
None.
Item 9A . Controls and Procedures
Evaluation of Disclosure Controls and Procedures
AsofDecember31,2015,ourmanagement,withtheparticipationofourChiefExecutiveOfficerandPresidentandourChiefFinancialOfficer,evaluated
theeffectivenessofourdisclosurecontrolsandprocedurespursuanttoRule13a-15(e)and15d-15(e)promulgatedundertheSecuritiesExchangeActof1934,as
amended,ortheExchangeAct.Baseduponthatevaluation,ourChiefExecutiveOfficerandPresidentandourChiefFinancialOfficerconcludedthat,asof
December31,2015,ourdisclosurecontrolsandprocedureswereeffectiveinensuringthatmaterialinformationrequiredtobedisclosedinthereportsthatwefile
orsubmitundertheExchangeActisrecorded,processed,summarizedandreportedwithinthetimeperiodsspecifiedintheSecuritiesandExchangeCommission’s,
ortheSEC’s,rulesandforms,includingensuringthatsuchmaterialinformationisaccumulatedandcommunicatedtoourmanagement,includingourChief
ExecutiveOfficerandPresidentandourChiefFinancialOfficer,asappropriatetoallowtimelydecisionsregardingrequireddisclosure.
Changes in Internal Control over Financial Reporting
TherewerenochangestoourinternalcontroloverfinancialreportingthatoccurredduringthequarterendedDecember31,2015thathavematerially
affected,orarereasonablylikelytomateriallyaffect,ourinternalcontroloverfinancialreporting.
Management’s Report on Internal Control over Financial Reporting
Ourmanagementisresponsibleforestablishingandmaintainingadequateinternalcontroloverfinancialreporting,asdefinedinRule13a-15(f)ofthe
ExchangeAct.Internalcontroloverfinancialreportingisaprocesstoprovidereasonableassuranceregardingthereliabilityofourfinancialreportingforexternal
purposesinaccordancewithaccountingprinciplesgenerallyacceptedintheUnitedStatesofAmerica.Underthesupervisionandwiththeparticipationofthe
Company’smanagement,includingtheChiefExecutiveOfficerandPresidentandtheChiefFinancialOfficer,theCompanyconductedanevaluationofthe
effectivenessofourinternalcontroloverfinancialreportingbasedonthecriteriaforeffectiveinternalcontroloverfinancialreportingdescribedinInternal Control
—Integrated Framework (2013) issuedbytheCommitteeofSponsoringOrganizationsoftheTreadwayCommission.
TheCompany’smanagementevaluatedtheeffectivenessoftheCompany’sinternalcontroloverfinancialreportingasofDecember31,2015.Pursuantto
ExchangeActRule13a-15(d)or15d-15(d),managementhasconcludedthat,asofDecember31,2015,ourinternalcontroloverfinancialreportingwaseffective.
ManagementhasrevieweditsassessmentwiththeAuditCommittee.KPMGLLP,anindependentregisteredpublicaccountingfirm,hasauditedtheeffectiveness
ofourinternalcontroloverfinancialreportingasofDecember31,2015,asstatedintheirreportwhichisincludedbelow.
Limitations on Effectiveness of Controls and Procedures
Managementdoesnotexpectthatourdisclosurecontrolsandproceduresorourinternalcontroloverfinancialreportingwillpreventordetectallerrorand
fraud.Anycontrolsystem,nomatterhowwelldesignedandoperated,isbaseduponcertainassumptionsandcanprovideonlyreasonable,notabsolute,assurance
thatitsobjectiveswillbemet.Further,noevaluationofcontrolscanprovideabsoluteassurancethatmisstatementsduetoerrororfraudwillnotoccurorthatall
controlissuesandinstancesoffraud,ifany,withinourcompanyhavebeendetected.
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