QUANTITATIVE AND QUALITATIVE DISCLOSURE REGARDING MARKET RISK
−Removed: We have limited exposure to financial market risks, including changes in
−Removed: interest rates.
−Removed: At September 30, 2003, we had cash and cash equivalents of
−Removed: Cash and cash equivalents consisted of demand deposits and money
−Removed: market accounts.
−Removed: Because of the cash equivalency of the money market accounts
−Removed: and the liquidity thereof, there is no material exposure to changes in interest
−Removed: rates for these accounts.
−Removed: The Company also has short-term notes payable in the amount of $21,925, at
−Removed: September 30, 2003.
+Added: We have limited exposure to financial market risks, including changes in interest rates.
+Added: At December 31, 2003, we had cash and cash equivalents of $1,317,539.
+Added: Cash and cash equivalents consisted of demand deposits and money market accounts.
+Added: Because of the cash equivalency of the money market accounts and the liquidity thereof, there is no material exposure to changes in interest rates for these accounts.
+Added: We also have short-term notes payable in the amount of $10,000, at December 31, 2003.
These notes are due and payable within one year.
−Removed: the short-term nature of the notes and the fixed rate on the notes, there is no
−Removed: material exposure to changes in interest rates for these accounts.
−Removed: does not have any derivative or hedge instruments at September 30, 2003.
−Removed: Semotus has a permanent engineering operation in Vancouver, B.C., Canada and
−Removed: therefore has an exposure to the Canadian and U.S.
+Added: Because of the short-term nature of the notes and the fixed rate on the notes, there is no material exposure to changes in interest rates for these accounts.
+Added: We do not have any derivative or hedge instruments at December 31, 2003.
+Added: We have a permanent engineering operation in Vancouver, B.C., Canada and therefore has an exposure to the Canadian and U.S.
dollar exchange rate.
−Removed: Company, in the ordinary course of its business, transfers funds to the Canadian
−Removed: company and records the translation at the current exchange rate.
−Removed: records translation gains and losses in Comprehensive Loss.
−Removed: At September 30,
−Removed: 2003, the cumulative translation loss was $78,039.
−Removed: Given the relative stability
−Removed: of the Canadian and U.S.
−Removed: dollar exchange rate, the Company has not deemed it
−Removed: necessary to hedge this exposure.
−Removed: The Company does actively monitor the
−Removed: situation and as of September 30, 2003 there has been a small but trending
−Removed: decline in the U.S.
+Added: In the ordinary course of our business we transfer funds to the Canadian company and record the translation at the current exchange rate.
+Added: We record translation gains and losses in Comprehensive Loss.
+Added: At December 31, 2003, the cumulative translation loss was $73,142.
+Added: Given the relative stability of the Canadian and U.S.
+Added: dollar exchange rate, we have not deemed it necessary to hedge this exposure.
+Added: We do actively monitor the situation and as of December 31, 2003 there has been a small but trending decline in the U.S.
dollar against the Canadian dollar.
−Removed: Should the trend
−Removed: continue, the Company may seek to limit or hedge the exposure.
+Added: Should the trend continue, we may seek to limit or hedge the exposure.
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.