EQ Labs Inc (EQLB)

[watcher01]

From the quarterly report on the 13th

Evaluation of Disclosure Controls and Procedures

Based on their evaluation of our disclosure controls and procedures(as defined in Rule 13a-15e under the Securities
Exchange Act of 1934 the "Exchange Act"), our principal executive officer and principal financial officer have concluded
that as of the end of the period covered by this report such disclosure controls and procedures were not effective due to the
lack of segregation of duties and lack of a formal review process that includes multiple levels of review to ensure that
information required to be disclosed by us in reports that we file or submit under the Exchange Act is recorded, processed,
summarized and reported within the time periods specified in Securities and Exchange Commission rules and forms because
of the identification of a material weakness in our internal control over financial reporting which we view as an integral part
of our disclosure controls and procedures. The material weakness relates to the lack of segregation of duties in financial
reporting, as our financial reporting and all accounting functions are performed by an external consultant with no oversight
by a professional with accounting expertise. Our CEO /CFO do not possess accounting expertise and our company does
not have an audit committee. This weakness is due to the company’s lack of working capital to hire additional staff. To
remedy this material weakness, we intend to engage another accountant to assist with financial reporting as soon as our
finances will allow.

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