−Removed: and Qualitative Disclosures about Market Risk
−Removed: Interest Rate Risk and
−Removed: Foreign Exchange Risk
−Removed: Cash equivalents that
−Removed: are subject to interest rate volatility represent our principal market risk.
−Removed: We do not expect cash flows to be affected to any significant
−Removed: degree by a sudden change in market interest rates as our notes payable bear fixed interest rates.
−Removed: We do not enter into investments for
−Removed: trading or speculative purposes.
−Removed: Additionally, the Company has not made any draws under the facility and as of March 31, 2023, there is
−Removed: no amount outstanding.
−Removed: We operate our business
−Removed: primarily within the United States and currently execute majority of our transactions in U.S.
−Removed: The foreign exchange gain amounted
−Removed: to $243,658 to the Company in the first quarter of 2023 ($5,863 in the first quarter of 2022).
−Removed: We have not utilized hedging strategies
−Removed: with respect to such foreign exchange exposure.
−Removed: This limited foreign currency translation risk is not expected to have a material impact
−Removed: on our consolidated financial statements.
−Removed: Concentrations
−Removed: of Risk and Significant Clients
−Removed: Our financial instruments that are exposed to
−Removed: concentrations of credit risk consist primarily of cash and cash equivalents, short-term investments and accounts receivable.
−Removed: we deposit our cash with multiple financial institutions in the U.S.
−Removed: and in foreign countries, our deposits, at times, may exceed federally
−Removed: insured limits.
−Removed: One customer accounted for approximately 46% of
−Removed: sales and 62% of net accounts receivable, for the three months ended March 31, 2023.
−Removed: One customer accounted for approximately 34% of
−Removed: sales and 22% of net accounts receivable, and another customer that accounted for 19% of sales and 17% of net accounts receivable for
−Removed: the three months ended March 31, 2022.
+Added: Quantitative and Qualitative Disclosures about Market Risk
+Added: Interest Rate Risk and Foreign Exchange Risk
+Added: Cash equivalents that are subject to interest rate volatility represent our principal market risk.
+Added: We do not expect cash flows to be affected to any significant degree by a sudden change in market interest rates as our notes payable bear fixed interest rates.
+Added: We do not enter into investments for trading or speculative purposes.
+Added: Additionally, the Company has not made any draws under the facility and as of June 30, 2023, there is no amount outstanding.
+Added: We operate our business primarily within the United States and currently execute majority of our transactions in U.S.
+Added: The foreign exchange gain amounted to $649,436 to the Company in the second quarter of 2023, compared to $4,571 in the second quarter of 2022.
+Added: We have not utilized hedging strategies with respect to such foreign exchange exposure.
+Added: This limited foreign currency translation risk is not expected to have a material impact on our consolidated financial statements.
+Added: Concentrations of Risk and Significant Clients
+Added: Our financial instruments that are exposed to concentrations of credit risk consist primarily of cash and cash equivalents, short-term investments and accounts receivable.
+Added: Although we deposit our cash with multiple financial institutions in the U.S.
+Added: and in foreign countries, our deposits, at times, may exceed federally insured limits.
+Added: The Company had one customer that accounted for approximately 36% of sales and 36% of net accounts receivable for the three months ended June 30, 2023 and one customer accounted for approximately 41% of sales and 36% of net accounts receivable, for the six months ended June 30, 2023.
+Added: The Company had one customer that accounted for approximately 29% of sales and 15% of net accounts receivable and another customer that accounted for 14% of sales and 12% of net accounts receivables for the three months ended June 30, 2022.
+Added: The Company had one customer that accounted for approximately 30% of sales and 15% of net accounts receivable,
+Added: and another customer that accounted for 17% of sales and 12% of net accounts receivable for the six months ended June 30, 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.