1 unchanged sentence
Evaluation of disclosure controls and procedures
−Removed: As of December 31, 2024, the Company’s management, including the principal executive officer and principal financial officer concluded that our disclosure controls and procedures were not effective as of December 31, 2024 because a material weakness in our internal control over financial reporting existed related to management’s failure to adequately design and implement internal controls to determine whether or not each of the inputs into the Company’s valuation model for its Loans at fair value consistent with U.S.
−Removed: Management, with the participation and supervision of our principal executive officer and our principal financial officer, have evaluated the effectiveness of the Company’s disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Act) as of June 30, 2025, the end of the period covered by this Form 10-Q.
+Added: Management, with the participation and supervision of our principal executive officer and our principal financial officer, have evaluated the effectiveness of the Company’s disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Act) as of September 30, 2025, the end of the period covered by this Form 10-Q.
The Company’s disclosure controls and procedures are designed to ensure that information the Company is required to disclose in reports that it files or submits under the Act is recorded, processed, summarized, and reported within the time periods specified in the SEC rules and forms, and that such information is accumulated and communicated to our management, including our principal executive officer and principal financial officer, as appropriate, to allow timely decisions regarding required disclosure.
−Removed: Based on such evaluation, our principal executive officer and principal financial officer have concluded that the Company’s disclosure controls and procedures were not effective as of June 30, 2025 because of the material weakness described above.
−Removed: Notwithstanding this material weakness, the Company has concluded that no material misstatements exist in the condensed consolidated financial statements as filed in this Form 10-Q, and such condensed consolidated financial statements present fairly, in all material respects, the financial position of the Company as of June 30, 2025 and 2024, and the results of its operations and its cash flows for each of the three and six months ended June 30, 2025 and 2024, in conformity with accounting principles generally accepted in the United States of America.
−Removed: Accordingly, there are no changes to the Company’s previously reported consolidated financial statements.
−Removed: Remediation Plan
+Added: Based on such evaluation, our principal executive officer and principal financial officer have concluded that the Company’s disclosure controls and procedures were effective as of September 30, 2025.
+Added: Due to the SEC staff's general guidance that an assessment of an acquired business may be omitted from the scope of management's assessment for one year following the acquisition, management excluded Mercury, which was acquired on September 11, 2025, from our assessment of internal control over financial reporting as of September 30, 2025.
+Added: Mercury represents approximately 44% of the Company’s consolidated total assets as of September 30, 2025, excluding intangible assets, and approximately 10.1% and 4.0% of the Company’s consolidated revenue for the three and nine months ended September 30, 2025, respectively.
+Added: See Note 2 "Acquisition of Mercury Financial LLC" to our condensed consolidated financial statements for further discussion of the Mercury acquisition.
+Added: Remediation of Material Weakness
+Added: As of December 31, 2024, the Company’s management, including the principal executive officer and principal financial officer concluded that our disclosure controls and procedures were not effective as of December 31, 2024 because a material weakness in our internal control over financial reporting existed related to management’s failure to adequately design and implement internal controls to determine whether or not each of the inputs into the Company’s valuation model for its Loans at fair value consistent with U.S.
+Added: The material weakness described above did not result in a misstatement to the Company’s annual or interim consolidated financial statements.
The Company’s management is committed to maintaining a strong internal control environment.
2 unchanged sentences
GAAP of all inputs used in the Company’s valuation model for its Loans at fair value.
−Removed: We will assess the ongoing operating effectiveness of the newly designed control in future periods.
−Removed: The material weakness cannot be considered remediated until the applicable control has operated for a sufficient period of time and we have concluded, through testing, that this control is operating effectively.
−Removed: These enhanced procedures were implemented as of March 31, 2025, and will be monitored for effectiveness.
+Added: These enhanced procedures were implemented as of March 31, 2025, and have been monitored for effectiveness.
+Added: Based on the successful monitoring of these enhanced procedures, the Company concluded that the material weakness identified above has been remediated as of the date of this report.
Changes in internal control over financial reporting
−Removed: Other than changes related to the remediation of the material weakness described above, there have been no changes in the Company’s internal control over financial reporting (as such term is defined in Rules 13a-15(f) and 15d-15(f) under the Act) during the quarter ended June 30, 2025, that have materially affected or are reasonably likely to materially affect the Company’s internal control over financial reporting.
+Added: Other than changes related to the remediation of the material weakness described above, there have been no changes in the Company’s internal control over financial reporting (as such term is defined in Rules 13a-15(f) and 15d-15(f) under the Act) during the quarter ended September 30, 2025, that have materially affected or are reasonably likely to materially affect the Company’s internal control over financial reporting.
Limitations on Controls
13 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.