Solidion Technology Inc.
For the period ended Sep 30, 2026. Filed Nov 9, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2026 · Filed Nov 9, 2026
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Item 4. Controls and Procedures
Evaluation of Disclosure Controls and Procedures
Based on an evaluation of our disclosure controls and procedures as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act, our Chief Executive Officer and Chief Financial Officer have concluded that our disclosure controls and procedures were not effective as of September 30, 2026, because of certain material weaknesses in our internal control over financial reporting, as previously disclosed in Part II, Item 9A, “Controls and Procedures,” of our Annual Report on Form 10-K for the year ended December 31, 2025.
Changes in Internal Control over Financial Reporting
We are committed to remediating the material weaknesses as soon as practicable. During the three months ended September 30, 2026, we made the following changes to our internal control over financial reporting as part of our remediation efforts:
| ● | Technical accounting resources. In September 2026, we hired a Senior Manager, Accounting with more than 20 years of experience in technical accounting, financial reporting, internal controls and transaction advisory, including extensive experience at a Big Four accounting firm. |
| ● | Segregation of duties. We reassigned responsibilities within our financial reporting function. Journal entries, account reconciliations and the periodic financial reports are now generally prepared by the Senior Manager, Accounting and reviewed by our Chief Financial Officer. |
| ● | Period-end close. We enhanced our period-end close process, including by implementing analytical review procedures over our condensed consolidated financial statements and expanding our close checklist to include additional and more detailed procedures with defined timelines and responsibilities. |
| ● | Accounting for complex transactions. We enhanced our process for evaluating significant non-routine transactions, including by requiring review of technical accounting memoranda by the Senior Manager, Accounting. |
| ● | Audit Committee oversight. On August 31, 2026, our Board of Directors appointed three new independent directors to the Audit Committee, each of whom qualifies as an audit committee financial expert. |
We have made progress in implementing the measures described above, and our remediation efforts are ongoing. We will continue to design and implement our risk assessment process, formal accounting policies and procedures, controls over the review and approval of journal entries and reconciliations, and monitoring activities. The material weaknesses will not be considered remediated until the applicable controls have been designed and implemented, have operated for a sufficient period of time, and management has concluded that they are operating effectively. We may take additional remediation measures or modify the measures described above as appropriate.
Other than the changes described above, there were no changes in our internal control over financial reporting during the three months ended September 30, 2026 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.
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