Quantitative and Qualitative Disclosures About Market Risk
−Removed: primary objective of our investment activities is to preserve capital.
+Added: The primary objective of our investment activities is to preserve capital.
We do not utilize hedging contracts or similar instruments.
−Removed: are exposed to certain market risks relating primarily to interest rate risk on our cash and cash equivalents and risks relating to the
−Removed: financial viability of the institutions which hold our capital and through which we have invested our funds.
−Removed: We manage such risks by
−Removed: investing in short-term, liquid, highly rated instruments.
−Removed: As of December 31, 2022, our cash equivalents only included cash deposits
+Added: We are exposed to certain market risks relating primarily to interest rate risk on our cash and cash equivalents and risks relating to the financial viability of the institutions which hold our capital and through which we have invested our funds.
+Added: We manage such risks by investing in short-term, liquid, highly rated instruments.
+Added: As of December 31, 2023, our cash equivalents only included cash deposits at our bank.
From time to time, we do have cash investments in short-term money market or U.S.
treasury bills.
−Removed: We do not believe we have
−Removed: any material exposure to interest rate risk due to the extremely low interest rate environment and the short duration of the invested
−Removed: funds we hold.
−Removed: Declines in interest rates would reduce our investment income but would not have a material effect on our financial condition
−Removed: or results of operations.
+Added: We do not believe we have any material exposure to interest rate risk in the current interest rate environment and the short duration of the invested funds we hold.
+Added: Declines in interest rates would reduce our investment income but would not have a material effect on our financial condition or results of operations.
We do not currently have exposure to foreign currency risk.
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.