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Cybersecurity Risk Management and Strategy Disclosure
12 Months Ended
Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]  
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]

Risk management and strategy

 

Our information technologies, system networks, information technology infrastructure, enterprise applications and financial reporting platforms are critical components of our operations. Our business operations rely on the secure processing, transmitting, collecting and storage of sensitive and confidential data. We recognize the importance of assessing, identifying and managing material risks associated with cybersecurity threats, as defined in Item 106(a) of Regulation S-K.

 

Identifying and assessing cybersecurity risk is integrated into our overall risk management systems and processes. We partner with a third-party information technology company to address and manage each of the critical aspects of cybersecurity risk mitigation. The user aspect is addressed by deploying endpoint detection and response software on all endpoints, as well as extensive phishing testing and training for every user. This is further reinforced with additional monitoring to identify any aberrant activity within our network or software as a service ("SaaS") tools. A 3-2-1 backup strategy is used, resulting in a copy of all backup data offsite in the unlikely event that the disaster recovery plan is required. Our backup system is regularly confirmed through routine data recoveries, test recoveries and monitoring that alert to any unexpected errors or failures with the system.

 

In our business operation, we utilize various third-party service providers, including credit card companies, banks and financial platform providers, to process financial transactions and implement various software and information system processes. To that effect, we seek to engage reliable, reputable service providers that maintain cybersecurity programs.

 

We are not aware of any risks from cybersecurity threats, nor have we experienced any cybersecurity incidents, which have materially affected or are reasonably likely to materially affect our Company, including our business strategy, results of operations, or financial condition. See Item 1A. "Risk Factors" in this Form 10-K for discussion of risk factors.

Cybersecurity Risk Management Processes Integrated [Flag] true
Cybersecurity Risk Management Processes Integrated [Text Block] Identifying and assessing cybersecurity risk is integrated into our overall risk management systems and processes. We partner with a third-party information technology company to address and manage each of the critical aspects of cybersecurity risk mitigation. The user aspect is addressed by deploying endpoint detection and response software on all endpoints, as well as extensive phishing testing and training for every user. This is further reinforced with additional monitoring to identify any aberrant activity within our network or software as a service ("SaaS") tools. A 3-2-1 backup strategy is used, resulting in a copy of all backup data offsite in the unlikely event that the disaster recovery plan is required. Our backup system is regularly confirmed through routine data recoveries, test recoveries and monitoring that alert to any unexpected errors or failures with the system.
Cybersecurity Risk Management Third Party Engaged [Flag] true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] false
Cybersecurity Risk Board of Directors Oversight [Text Block]

Governance

 

Cybersecurity is an important part of our risk management processes. Our Board of Directors holds oversight responsibility for the Company's strategy and risk management, including material risks related to cybersecurity threats. The Audit Committee of the Board of Directors oversees the management of systemic risks, including cybersecurity threats, in accordance with its charter.

 

Our management, represented by senior management, leads the cybersecurity risk assessment and mitigation processes, along with information technology management staff and our third-party business technology partner. Our third-party business technology partner has over 21 years of experience in cybersecurity and information technology. Continuous monitoring and routine meetings are conducted in order for the Company's information technology team and third-party business technology firm to update senior management regarding prevention, detection, mitigation and remediation of any cybersecurity threats or incidents.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block] Cybersecurity is an important part of our risk management processes. Our Board of Directors holds oversight responsibility for the Company's strategy and risk management, including material risks related to cybersecurity threats. The Audit Committee of the Board of Directors oversees the management of systemic risks, including cybersecurity threats, in accordance with its charter.
Cybersecurity Risk Role of Management [Text Block] Our management, represented by senior management, leads the cybersecurity risk assessment and mitigation processes, along with information technology management staff and our third-party business technology partner. Our third-party business technology partner has over 21 years of experience in cybersecurity and information technology. Continuous monitoring and routine meetings are conducted in order for the Company's information technology team and third-party business technology firm to update senior management regarding prevention, detection, mitigation and remediation of any cybersecurity threats or incidents.
Cybersecurity Risk Management Positions or Committees Responsible [Flag] true
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] true