4 unchanged sentences
Our primary exposure to market risk relates to changes in interest rates.
−Removed: Borrowings under our Term Loan Facility and Revolving Credit Facility bear interest at variable rates, subject to an interest rate floor.
+Added: Borrowings under our SWK Loan Facility bear interest at variable rates, subject to an interest rate floor.
Interest rate risk is highly sensitive due to many factors, including U.S.
1 unchanged sentence
and international economic factors and other factors beyond our control.
−Removed: A hypothetical 10% relative change in interest rates on our variable rate indebtedness outstanding at June 30, 2022 would not have had a material effect on our financial statements.
+Added: A hypothetical 10% relative change in interest rates on our variable rate indebtedness outstanding at September 30, 2022 would not have had a material effect on our financial statements.
We do not currently engage in hedging transactions to manage our exposure to interest rate risk.
−Removed: As of June 30, 2022, our cash and cash equivalents were maintained with one financial institution in the United States.
+Added: As of September 30, 2022, our cash and cash equivalents were maintained with one financial institution in the United States.
While our deposit accounts are insured up to the legal limit, the balances we maintain may, at times, exceed this insured limit.
2 unchanged sentences
To minimize credit risk, ongoing credit evaluations of all customers’ financial condition are performed.
−Removed: One customer represented 10% or more of our accounts receivable as of June 30, 2022.
+Added: One customer represented 10% or more of our accounts receivable as of September 30, 2022.
Foreign Currency Risk
2 unchanged sentences
As we grow our operations, our exposure to foreign currency risk could become more significant.
−Removed: Impact of Inflation
−Removed: Inflationary factors, such as increases in our cost of goods sold or other operating expenses, may adversely affect our operating results.
−Removed: While it is difficult to accurately measure the impact of inflation due to the imprecise nature of the estimates required, we do not believe inflation had a material effect on our financial condition or results of operations during the six months ended June 30, 2022 and 2021.
−Removed: We cannot assure you, however, that we will be able to increase the selling prices of our products or reduce our operating expenses in an amount sufficient to offset the effects future
−Removed: inflationary pressures may have on our gross margin.
−Removed: Accordingly, we cannot assure you that our financial condition and results of operations will not be materially impacted by inflation in the future.
Section 107 of the JOBS Act permits us, as an “emerging growth company,” to take advantage of an extended transition period for adopting new or revised accounting standards until those standards would otherwise apply to private companies.
7 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.