25 unchanged sentences
The design of any systems of controls is based in part upon certain assumptions about the likelihood of future events, and there can be no assurance that any design will succeed in achieving its stated goals under all potential future conditions.
−Removed: Over time, control may become inadequate because of changes in conditions, or the degree of compliance with the policies or procedures may deteriorate.
+Added: Over time, controls may become inadequate because of changes in conditions, or the degree of compliance with the policies or procedures may deteriorate.
Because of these inherent limitations in a cost-effective control system, misstatements due to error or fraud may occur and not be detected.
1 unchanged sentence
OTHER INFORMATION
+Added: DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS
+Added: Not Applicable.
DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE
17 unchanged sentences
He received his Orthopedic training at Northwestern University in Chicago.
−Removed: He was a Major in the USAF for 2 years at Wright Patterson Air Force base in Dayton, Ohio.
+Added: He was a Major in the United States Air Force for 2 years at Wright Patterson Air Force base in Dayton, Ohio.
He established Northshore Orthopedics, Assoc.
12 unchanged sentences
He received a Bachelor of Business Administration in Accounting from Lamar University in 1979.
−Removed: He is also currently the President of the Montgomery County MUD #83.
Jerry Bratton, J.D., MBA – Mr.
41 unchanged sentences
EXECUTIVE COMPENSATION
−Removed: The following table provides summary information for the years 2020 and 2019 concerning cash and non-cash compensation paid or accrued to or on behalf of certain executive officers (“named executive officers”).
+Added: The following table provides summary information for the fiscal years ending December 31, 2021 and 2020 concerning cash and non-cash compensation paid or accrued to or on behalf of certain executive officers (“named executive officers”).
Summary Executive Compensation Table
7 unchanged sentences
Outstanding Equity Awards at Fiscal Year End
−Removed: At December 31, 2020, there were 20,000 fully vested stock options outstanding, with a weighted average exercise price of $0.40 per share.
+Added: There are no equity awards outstanding at December 31, 2021.
Compensation of Directors
6 unchanged sentences
Based on these factors, we believe that our compensation policies and practices do not create risks that are reasonably likely to have a material adverse effect on us.
−Removed: SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT
+Added: SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS
The following table sets forth information, as of March 16, 2022, concerning, except as indicated by the footnotes below, (i) each person whom we know beneficially owns more than 5% of our common stock, (ii) each of our directors, (iii) each of our named executive officers and (iv) all of our directors and executive officers as a group.
29 unchanged sentences
Securities Authorized for Issuance under Equity Compensation Plans
−Removed: The following table summarizes our equity compensation plan information as of December 31, 2020:
−Removed: Plan Category
−Removed: Common Shares to be
−Removed: Issued Upon Exercise of
−Removed: Outstanding Options,
−Removed: Warrants and Rights
−Removed: Weighted-average
−Removed: Exercise Price of
−Removed: Outstanding Options,
−Removed: Common Shares Available
−Removed: for Future Issuance Under
−Removed: Equity Compensation
−Removed: Plans (Excluding
−Removed: Securities Reflected in
−Removed: Equity compensation plans approved by our stockholders
−Removed: Equity compensation plans not approved by security holders
−Removed: Consists of common shares to be issued upon exercise of outstanding stock options.
CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS;
+Added: AND DIRECTOR INDEPENDENCE
On September 3, 2014, we entered into a $2,000,000 revolving line of credit agreement with Wells Fargo Bank, N.A.
11 unchanged sentences
The secured promissory note balance was $395,000 at December 31, 2021.
+Added: We transferred to SPIN Collections LLC (an entity owned and controlled by Mr.
+Added: Dalrymple) certain accounts receivable the Company owns, which accounts receivable have a gross balance of $84,865 and a carrying value of $0 in consideration of Mr.
+Added: Dalrymple agreeing to reduce the balance of his promissory note by $33,946.
+Added: The company recognized $33,946 as other income.
+Added: The maturity date of the note has been extended to June 30, 2022.
During the year ended December 31, 2021, the Company recorded $27,357 in interest expense on the Dalrymple note, representing all interest due through that date.
28 unchanged sentences
Certificate of Amendment to Certificate of Incorporation (Incorporated by reference from Form 8-K filed with the SEC on October 7, 2015.) *
−Removed: Certificate of Amendment to Certificate of Incorporation dated January 20, 2021
By-Laws dated April 23, 1998.
2 unchanged sentences
Security Agreement with Peter Dalrymple, dated August 31, 2020 (Incorporated by reference from Form 8-K filed with the SEC on September 2, 2020) *
+Added: Letter agreement with Peter Dalrymple, dated October 28, 2021 (Incorporated by reference from Form 8-K filed with the SEC on November 2, 2021) *
+Added: Amendment to Secured Promissory Note with Peter Dalrymple, dated October 29, 2021 (Incorporated by reference from Form 8-K filed with the SEC on November 2, 2021) *
Certification of principal executive officer required by Rule 13a – 14(1) or Rule 15d – 14(a) of the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
2 unchanged sentences
Certification of principal financial officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 and Section 1350 of 18 U.S.C.
−Removed: XBRL Instance Document
−Removed: XBRL Taxonomy Extension Schema
−Removed: XBRL Taxonomy Extension Calculation Linkbase
−Removed: XBRL Taxonomy Extension Definitions Linkbase
−Removed: XBRL Taxonomy Extension Label Linkbase
−Removed: XBRL Taxonomy Extension Presentation Linkbase
+Added: Inline XBRL Instance Document
+Added: Inline XBRL Taxonomy Extension Schema
+Added: Inline XBRL Taxonomy Extension Calculation Linkbase
+Added: Inline XBRL Taxonomy Extension Definitions Linkbase
+Added: Inline XBRL Taxonomy Extension Label Linkbase
+Added: Inline XBRL Taxonomy Extension Presentation Linkbase
+Added: Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)
* Incorporated by reference from our previous filings with the SEC
+Added: FORM 10-K SUMMARY
In accordance with the requirements of Section 13 of 15(d) of the Exchange Act, the Registrant has caused this report to be signed on its behalf by the undersigned, thereunto duly authorized, on March 16, 2022.
18 unchanged sentences
/s/ Peter Dalrymple
−Removed: March 26, 2021
Peter Dalrymple
+Added: March 16, 2022
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.