1 unchanged sentence
For a discussion of market risks that could affect the Company, refer to the risk factors disclosed in Item 1A.
−Removed: of Part 1 of the Company’s Annual Report on Form 10-K for the year ended April 2, 2023.
+Added: of Part 1 of the Company’s Annual Report on Form 10-K for the year ended March 31, 2024.
INTEREST RATE RISK
−Removed: As of December 31, 2023, the Company had $10.0 million of indebtedness that bears interest at a variable rate, comprised of borrowings under the revolving line of credit.
+Added: As of June 30, 2024, the Company had $1.5 million of indebtedness that bears interest at a variable rate, comprised of borrowings under the revolving line of credit.
Based upon this level of outstanding debt, the Company’s annual net income would decrease by approximately $11,000 for each increase of one percentage point in the interest rate applicable to the debt.
9 unchanged sentences
In addition, 40% of the Company’s gross sales in fiscal year 2024 consisted of licensed products, which included 24% of sales associated with the Company’s license agreements with affiliated companies of the Walt Disney Company (“Disney”).
−Removed: As of January 30, 2024, three of the license agreements with Disney that expired on December 31, 2023 were renewed.
−Removed: With regard to the one license agreement that had not yet been renewed as of that date, the Company and Disney agreed to continue to operate under the terms of the expired license agreement.
The Company’s results could be materially impacted by the loss of one or more of these licenses.
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.