GenFlat Holdings, Inc. 10-K Cybersecurity GRC - 2024-09-30

Page last updated on October 1, 2024

GenFlat Holdings, Inc. reported their cybersecurity risk management and governance process in a yearly 10-K filed on 2024-09-30 20:48:25 EDT.

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10-K filed on 2024-09-30

GenFlat Holdings, Inc. filed a 10-K at 2024-09-30 20:48:25 EDT
Accession Number: 0001654954-24-012526

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Item 1C. Cybersecurity.

Item 1C. Cybersecurity. We are a start-up company with limited operations, yet we recognize that we are subject to various cybersecurity risks that could adversely affect our business. Cyberattacks on companies around the world continue to increase, which cause operational failures, compromised sensitive corporate or customer data, and/or result in significant financial damages. These attacks occur over the internet, through malware, viruses or attachments to e-mails, or through inside actors with access to systems within the organization. Risk Management and Strategy As part of our overall risk management, we focus on a comprehensive approach to identifying, preventing and mitigating cybersecurity threats and incidents. We deploy technical safeguards that are designed to protect our Company’s information systems from cybersecurity threats, including firewalls, intrusion prevention and detection systems, anti-malware functionality and access controls, which we evaluate and improve on a periodic basis. Governance Our Chief Executive officer is the sole member of our Board of Directors, and he is responsible for oversight of cybersecurity risk. Our Chief Executive Officer, along with our President and Chief Operations Officer, who are currently our only other employees, are responsible for the ongoing managing and assessing of our cybersecurity practices and reporting on such practices and risks. Should any cybersecurity threat or incident be detected, our senior management team would timely report such threat or incident to the Board of Directors and provide regular communications and updates throughout the incident and any subsequent investigation, in order that the impact, materiality, and reporting requirements of such incident are appropriately identified and assessed for further necessary or appropriate action to be taken. We believe we are appropriately staffed (as supported by IT consultants and service providers, as needed) to support a healthy cybersecurity posture given our Company’s size and scope. To date, there have been no risks identified from cybersecurity threats or previous cybersecurity incidents that have materially affected or are reasonably likely to materially affect our Company. However, despite all of the above aforementioned efforts, a cyberattack, if it occurred, could cause system operational problems, compromise important data or systems or result in an unintended release of confidential information. See “Item 1A. Risk Factors” for additional discussion of cybersecurity risks impacting our Company.

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