Tue, Jun 18, 8:32 PM (81 days ago)
Thunder Energies Corporation filed an amendment (Form 10-K/A) to its annual report for the fiscal year ending December 31, 2023. This amendment addresses deficiencies in internal controls over financial reporting, identified as material weaknesses. These include inadequate risk assessment, lack of comprehensive entity-level controls, insufficient system and manual controls, and inadequate segregation of duties. The company lacks a qualified financial expert on its board. Despite these weaknesses, management asserts that the financial statements fairly present the company's financial condition. The amendment also updates certifications pursuant to the Sarbanes-Oxley Act. No financial statements were altered in this amendment. Management plans to remediate these weaknesses in the current fiscal year by appointing additional qualified personnel and a financial expert.