Cyber App Solutions Corp. 10-K Cybersecurity GRC - 2024-04-01

Page last updated on July 16, 2024

Cyber App Solutions Corp. reported their cybersecurity risk management and governance process in a yearly 10-K filed on 2024-04-01 14:45:00 EDT.

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10-K filed on 2024-04-01

Cyber App Solutions Corp. filed a 10-K at 2024-04-01 14:45:00 EDT
Accession Number: 0001213900-24-028588

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Item 1C. Cybersecurity.

Item 1C. Cybersecurity. We rely on information technology systems across our business. As our reliance on data and information technology systems have increased, we have continued to evolve and modify our cybersecurity processes and strategy and related governance and oversight practices as well as enhance the expertise of our cybersecurity team. Cyber Risk Management & Strategy Advanced cyber threats have targeted the energy industry and raised our risk profile. As part of our overall risk management system, we regularly assesses our processes and practices for managing and mitigating cybersecurity risks and determine whether such risks are being effectively managed and mitigated. We have implemented and invested in multiple technologies, controls, and procedures designed to protect our information systems and related infrastructure; identify, assess and remediate vulnerabilities; and monitor and mitigate the risk of data loss and other cybersecurity threats and intrusions. Our third-party cybersecurity team, which is responsible for our cybersecurity strategy and planning, oversees such efforts. As part of their efforts, such team seeks to identify potential cyber vulnerabilities and opportunities for improvement and then evaluates and implements different cybersecurity technologies to address any identified vulnerabilities and opportunities. However, this does not imply that we meet any particular technical standards, specifications, or requirements. In addition, our third-party cybersecurity team play a key role in reviewing and assessing our controls and procedures, including conducting vulnerability assessments. In the event of an incident, our third-party cybersecurity team have a designated response team and written response plan in place with predefined escalation and response procedures. We also have processes in place to monitor the cybersecurity risk exposure and security practices of key service providers to assess their cyber preparedness. While such technologies, controls, and procedures cannot entirely eliminate cybersecurity threats, we believe the risks from cybersecurity threats (including as a result of previous cybersecurity incidents) have been effectively managed and contained, and have not materially affected, and are not reasonably likely to materially affect, us and our business strategy, results of operations or financial condition. As technology and potential cybersecurity threats evolve, we intend to continue to adapt and enhance our cybersecurity controls, procedures, and protections. Cyber Expertise & Experience We do not have any in-house cybersecurity professionals. As discussed above, our cybersecurity team consist of third-party cybersecurity professionals. Our Managed Security Service Provider has over 20 years of experience in the Cybersecurity and Energy Industry. Their leadership team has provided extensive Information Technology expertise to protect industry leaders globally. Cyber Governance & Oversight Our third-party cybersecurity team reports to our Chief Financial Officer. 18

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