Defense Technologies International Corp (DTII)

[Poco Parvenu]

A material weakness is a deficiency

This statement is required for SEC filing and auditor purposes according to Section 404 of the Sarbanes-Oxley Act of 2002, in conjunction with related SEC rules and Auditing Standard No. 2 established by the Public Company Accounting Oversight Board. It requires management of a public company and the company’s independent auditor to issue two new public reports:

• A management report on the effectiveness of the company’s internal control over financial reporting.
and
• In conjunction with the audit of the company’s financial statements, an independent auditor’s report that includes both an opinion on management’s assessment and an opinion on the effectiveness of the company’s internal control over financial reporting.

The full statement in the 10K is:

Our management conducted an evaluation of the effectiveness of our internal control over financial reporting as of April 30, 2023, using the criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) in Internal Control—Integrated Framework (2013). Based on its evaluation, our management concluded that there are material weaknesses in our internal control over financial reporting was not effective as of April 30, 2023, and there are material weaknesses in our internal control over financial reporting. We lack full time personnel in accounting and financial staff to sufficiently monitor and process financial transactions in an efficient and timely manner. This allows for insufficient segregation of duties and a lack of multiple levels of supervision and review. Our history of losses has severely limited our budget to hire and train enough accounting and financial personnel needed to adequately provide this function. Consequently, we lacked sufficient technical expertise, reporting standards and written policies and procedures. A material weakness is a deficiency, or a combination of control deficiencies, in internal control over financial reporting such that there is a reasonable possibility that a material misstatement of the Company’s annual or interim financial statements will not be prevented or detected on a timely basis.

From 10K For the Fiscal Year Ended April 30, 2021
https://www.sec.gov/ix?doc=/Archives/edgar/data/1533357/000109690621001985/dtii-20210430.htm:

Years Ended April 30, 2021, 2020
Revenue $15,230, $-

Just like your link states:

here is a link for years 2019-2022
https://www.otcmarkets.com/stock/DTII/financials

Nice try though. LMAOROTF

GLTA #DTII