−Removed: QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
−Removed: We have limited exposure to financial market risks, including changes in
−Removed: interest rates.
+Added: QUANTITATIVE AND
+Added: QUALITATIVE DISCLOSURES ABOUT MARKET RISK.
+Added: We have limited exposure to financial market risks, including changes in interest rates.
At March 31, 2004, we had cash and cash equivalents of $1,717,052.
−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 interest rates for
−Removed: these accounts.
−Removed: The Company also has short-term notes payable in the amount of $56,224, at March
−Removed: These notes are due and payable in less than one year.
−Removed: Because of the
−Removed: 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 March 31, 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: 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
+Added: thereof, there is no material exposure to interest rates for these accounts.
+Added: We have no notes payable at March 31, 2004.
+Added: We have a permanent engineering operation in Vancouver, B.C., Canada and therefore we have 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 Income.
−Removed: At March 31, 2003,
−Removed: the cumulative translation loss was $93,306.
−Removed: Given the relative stability of the
−Removed: Canadian and U.S.
−Removed: dollar exchange rate, the Company has not deemed it necessary
−Removed: to hedge this exposure.
−Removed: The Company does actively monitor the situation and as
−Removed: of March 31, 2003 there has been a small but trending decline in the U.S.
−Removed: against the Canadian dollar.
−Removed: Should the trend continue, the Company would seek
−Removed: to limit or hedge the exposure.
+Added: In the ordinary course of 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 income (loss).
+Added: At March 31, 2004, the cumulative translation loss was $74,328.
+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 actively monitor the situation and as of March 31, 2004 there has been a small but trending decline in the U.S.
+Added: dollar against the Canadian dollar.
+Added: Should the trend continue, we would 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.