Item 7A. Quantitative and Qualitative Disclosures About Market Risk
Item
7A. Quantitative and Qualitative Disclosures About Market Risk
Our
primary market risk exposure is foreign currency exchange rate risk. From inception through December 31, 2024, the Company’s reporting
currency is the United States dollar while the functional currency of certain of the Company’s subsidiaries were the Canadian dollar
and Australian dollar. For the reporting periods ended December 31, 2024 and December 31, 2023, the Company engaged in a number of transactions
denominated in Canadian dollars and Australian dollars. As a result, the Company is subject to exposure from changes in the exchange
rates of the Canadian dollar and Australian dollar against the U.S. dollar.
The
Company has not entered into any financial derivative instruments that expose it to material market risk, including any instruments designed
to hedge the impact of foreign currency exposures. The Company may, however, hedge such exposure to foreign currency exchange fluctuations
in the future.
Item
8. Financial Statements and Supplementary Data
The
information required by this Item 8 is incorporated by reference to the Annual Report on Form 10-K beginning on page F-1.
Item
9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure
None.
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