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Freeze Tag, Inc. (FRZT): material weakness history
Freeze Tag, Inc. reported ineffective internal control over financial reporting because of a material weakness in 5 filings since Mar 31, 2021. The latest was its 10-K for the period ended Dec 31, 2024.
Ctrl Worx Watch List™ status
Stopped filingIt filed a Form 15 to stop reporting after its last report. The Clock stopped at that report.
Checked against SEC EDGAR: Oct 29, 2026 · Entry #10820
Causes the company named
Segregation of duties · 5Financial close and reporting · 5Entity-level and governance · 5
Material weaknesses in related party transaction controls, financial close procedures, and segregation of duties.
What the latest filing says
A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of our annual or interim financial statements will not be prevented or detected on a timely basis. Under the supervision of our chief executive officer and our chief financial officer, we conducted an evaluation of the effectiveness of our internal control over financial reporting as of December 31, 2024 using the criteria established in the 2013 Internal Control—Integrated Framework (2013 Framework) issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). This evaluation included review of the documentation of controls, evaluation of the design effectiveness of controls, testing of the operating effectiveness of controls and a conclusion on this evaluation. Based on this evaluation, our management concluded our internal control over financial reporting was not effective as at December 31, 2024. 36 Table of Contents This Annual Report does not include an attestati [...]
From the controls section of the 10-K filed Mar 31, 2025. Read the full filing on SEC EDGAR.
Company response: Freeze Tag, Inc. can send a statement or a link to its remediation update to russell@ctrlworx.com. We post it here, unedited and dated.
Filings
| Filed | Form | Period | Controls | Causes | Filing |
|---|---|---|---|---|---|
| Mar 31, 2025 | 10-K | Dec 31, 2024 | Not effective | Segregation of duties; Financial close and reporting; Entity-level and governance | EDGAR |
| Apr 1, 2024 | 10-K | Dec 31, 2023 | Not effective | Segregation of duties; Financial close and reporting; Entity-level and governance | EDGAR |
| Mar 31, 2023 | 10-K | Dec 31, 2022 | Not effective | Segregation of duties; Financial close and reporting; Entity-level and governance | EDGAR |
| Mar 31, 2022 | 10-K | Dec 31, 2021 | Not effective | Segregation of duties; Financial close and reporting; Entity-level and governance | EDGAR |
| Mar 31, 2021 | 10-K | Dec 31, 2020 | Not effective | Segregation of duties; Financial close and reporting; Entity-level and governance | EDGAR |
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