{"url_path":"/sec/uuu/10-q/2026/item-4","section_key":"item-4","section_title":"Item 4 ****CONTROLS AND PROCEDURES**","topic":"sec","document":{"doc_type":"10-Q","doc_date":"2026-02-19","source_url":"https://www.sec.gov/Archives/edgar/data/102109/0001104659-26-017568-index.html","accession_number":"0001104659-26-017568","cik":"0000102109","ticker":"UUU","issuer_name":"UNIVERSAL SAFETY PRODUCTS, INC.","edgar_url":"https://www.sec.gov/Archives/edgar/data/102109/0001104659-26-017568-index.html","primary_entity_key":"0000102109","primary_entity_name":"UNIVERSAL SAFETY PRODUCTS, INC."},"word_count":569,"has_tables":true,"body_markdown":"**ITEM 4.****CONTROLS AND PROCEDURES**\n\n**Evaluation of Disclosure Controls and Procedures**\n\nWe maintain a system of disclosure controls and procedures (as such item is defined in Rules 13a – 15(e) and 15d – 15(e) of the Exchange Act) that is designed to provide reasonable assurance that information, which is required to be disclosed by us in the reports that we file or submit under the Securities and Exchange Act of 1934, as amended, is recorded, processed, summarized and reported within the time periods specified in the rules and forms of the Securities and Exchange Commission, and is accumulated and communicated to management in a timely manner. Our Chief Executive Officer and Chief Financial Officer have evaluated this system of disclosure controls and procedures in accordance with applicable Securities and Exchange Commission guidance as of the end of the period covered by this quarterly report and have concluded that disclosure controls and procedures were not effective because the Company has not yet completed its remediation of the material weaknesses previously identified and disclosed in the Company’s Annual Report on Form 10-K for the year ended March 31, 2025, the end of its most recent fiscal year.\n\nMaterial weaknesses arose during the fiscal quarter ended September 30, 2025, related to the accounting for complex instruments that continued to exist in the fiscal quarter ended December 31, 2025. The Company plans to remediate the material weakness by engaging an independent expert to calculate the impact of complex instruments presented in the Company’s financial statements.\n\nMaterial weaknesses arose during the fiscal year ended March 31, 2025, that continued to exist in the fiscal quarter ended December 31, 2025, related to the inherent risk associated with the lack of segregation of duties due to limited staffing in the accounting function. The Company plans to remediate the material weakness by adding additional personnel to the accounting function, which has not yet occurred.\n\nMaterial weaknesses arose during the fiscal year ended March 31, 2024, that continued to exist in the fiscal quarter ended December 31, 2025, in the management review controls over classification of and disclosure of amounts within the financial statements resulting in revisions of amounts previously published in the March 31, 2024, financial statements. The Company plans to remediate the material weakness by changing to the proper reporting of the classification of amounts, and inclusion of the required disclosures.\n\nMaterial weaknesses arose during the fiscal year ended March 31, 2024, that continued to exist in the fiscal quarter ended December 31, 2025, in the management review controls over the classification of and accounting for income taxes. The Company plans to remediate the material weakness by engaging an independent expert to review the Company’s current and deferred tax provisions.\n\nMaterial weaknesses arose during the fiscal year ended March 31, 2024, that continued to exist in the fiscal quarter ended December 31, 2025 in management’s review and control over documentation supporting entries posted to the Company’s general ledger. The Company plans to remediate the material weakness by implementing procedures to improve the review of, and documentation used to support, entries to the Company’s general ledger.\n\n**Changes in Internal Control over Financial Reporting**\n\nThere have been no changes in internal control over financial reporting that have materially affected, or are reasonably likely to materially affect, internal control over financial reporting during the quarter ended December 31, 2025.\n\n​\n\n19\n\n[Table of Contents](#TOC)\n\n**PART II - OTHER INFORMATION**\n\n​"}