GlobalTech Corp 10-K Cybersecurity GRC - 2024-06-28

Page last updated on October 1, 2024

GlobalTech Corp reported their cybersecurity risk management and governance process in a yearly 10-K filed on 2024-06-28 16:15:46 EDT.

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10-K filed on 2024-06-28

GlobalTech Corp filed a 10-K at 2024-06-28 16:15:46 EDT
Accession Number: 0001477932-24-003948

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Item 1C. Cybersecurity.

Item 1C. Cybersecurity"; 3) Update the Table of Contents to clarify that “Item 6” is “[Reserved]; to include Part IV; and “Item 16. Form 10-K Summary”; 4) Include a Summary of Risk Factors under “Item 1A. Risk Factors”; 5) Include “Item 1C. Cybersecurity”; 6) Update and correct “Item 9. Change in and Disagreements with Accountants on Accounting and Financial Disclosure” to disclose a recent change in auditors; 7) Include a “Delinquent Section 16(a) Reports” section under “Item 10. Directors, Executive Officers and Corporate Governance”; 8) Update, expand and correct “Item 11. Executive Compensation; 9) Update and correct “Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters”; 10) Include Exhibit 4.1, Description of the Registrant’s Securities; update the exhibit table under “Item 15. Exhibits and Financial Statements”, to include a reference to where each exhibit not included in the filing was originally filed, and the incorporation of such exhibit in Amendment No. 1, include the Company’s Code of Ethics; and include references to the XBRL information included as part of Amendment No. 1; and 11) Include “Item 16. Form 10-K Summary”; 12) Include the signature of each member of the Board of Directors on the signature page hereto; and 13) Make certain other corrections and updates to the Original Report. In addition, as required by Rule 12b-15 of the Securities and Exchange Act of 1934, as amended (the “Exchange Act”), new certifications by the Company’s principal executive officer and principal financial officer are filed herewith as exhibits to this Amendment No. 1, under Item 15 hereof. Other than as expressly set forth herein, this Amendment No. 1 does not, and does not purport to, amend, update or restate the information in the Original Report or reflect any events that have occurred after the Original Report was made. Information not affected by this Amendment No. 1 remains unchanged and reflects the disclosures made at the time as of which the Original Report was made. No changes have been made to the financial statements of the Company as contained in the Original Report. Accordingly, this Amendment No. 1 should be read together with the Original Report and the Company’s other filings with the SEC. TABLE OF CONTENTS Part I Item 1. Business 4 Item 1A. Risk Factors 12 Item 1B. Unresolved Staff Comments 36 Item 1C. Cybersecurity 36
Item 1C. Cybersecurity . The Company understands the importance of preventing, assessing, identifying, and managing material risks associated with cybersecurity threats. Cybersecurity processes to assess, identify and manage risks from cybersecurity threats have been incorporated as a part of the Company’s overall risk assessment process. These risks include, among other things: operational risks, intellectual property theft, fraud, extortion, harm to employees or customers and violation of data privacy or security laws. We have processes in place to identify, assess and monitor material risks from cybersecurity threats, including the material risks of the Company. These processes are part of our overall enterprise risk management process and have been embedded in our operating procedures, internal controls and information systems. On a regular basis we implement into our operations these cybersecurity processes, technologies, and controls to assess, identify, and manage material risks. Cybersecurity risks related to our business, technical operations, privacy and compliance issues are identified and addressed through a multi-faceted approach including third party assessments, IT security, governance, risk and compliance reviews. Incidents are evaluated to determine materiality as well as operational and business impact, and reviewed for privacy impact. We describe whether and how risks from identified cybersecurity threats, including as a result of any previous cybersecurity incidents, have materially affected or are reasonably likely to materially affect us, including our business strategy, results of operations, or financial condition, under the headings " We are exposed to cyber-attacks and other cybersecurity threats that may lead to compromised or inaccessible telecommunications, digital and financial services, and/or leaks or unauthorized processing of confidential information, and perceptions of such threats may cause customers to lose confidence in our services “, included as part of our risk factor disclosures at Item 1A of this Annual Report on Form 10-K. Cybersecurity is an important part of our risk management processes and an area of focus for our Board and management. Our Chief Executive Officer and President, Dana Green, is responsible for the oversight of risks from cybersecurity threats. The Board will receive information and updates periodically with respect to the effectiveness of our cybersecurity and information security framework, data privacy and risk management, which includes that of the Company. The Board will also be provided updates on any material incidents relating to information systems security and cybersecurity incidents. As of and for the year ended December 30, 2023, there have been no cybersecurity incidents that have materially affected the Company’s business strategy, results of operations, or financial condition.

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