−Removed: Quantitative and Qualitative Disclosures About Market Risk (continued)
+Added: Quantitative and Qualitative Disclosures About Market Risk
+Added: The majority of our investments are conducted through investment partnerships which generally hold common stocks.
+Added: We also hold marketable securities directly.
+Added: Through investment partnerships we hold concentrated positions.
+Added: A significant decline in the general stock market or in the prices of major investments may produce a large net loss and decrease in our consolidated shareholders’ equity.
+Added: Decreases in values of equity investments can have a materially adverse effect on our earnings and on consolidated shareholders’ equity.
We prefer to hold equity investments for very long periods of time so we are not troubled by short-term price volatility with respect to our investments.
2 unchanged sentences
A hypothetical 10% increase or decrease in the market price of our investments would result in a respective increase or decrease in the carrying value of our investments of $32,952 along with a corresponding change in shareholders’ equity of approximately 4%.
−Removed: We have had minimal exposure to foreign currency exchange rate fluctuations in the first nine months of 2021 and 2020.
+Added: We have had minimal exposure to foreign currency exchange rate fluctuations in the first quarters of 2022 and 2021.
Southern Oil’s business is fundamentally a commodity business.
3 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.