What changed in this filing

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Item 1. Business

2024-10-15 compared with 2023-04-17 · 182 added, 126 removed, 201 unchanged (61% of the section changed)

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The name change reflects the Company’s commitment to expanding its products and services

in the FX and cryptocurrency markets for OTC brokers.

in the FX and financial markets for OTC brokers.

The Company provides innovative and cost-efficient financial technology (‘fintech’)

and business solutions to OTC Online Brokerages and cryptocurrency businesses (“customers”).

Company is building a diversified global financial services company driven by proprietary Condor trading technologies, complementary

and business solutions to OTC Online Brokerages (“customers”).

Company intends to build a diversified global financial services company driven by proprietary Condor trading technologies, complementary

regulatory licenses, and a proven executive team.

The Company plans to acquire, integrate, transform, and scale legacy financial service

The Company believes its proprietary technology and software development capabilities allow legacy financial services

companies immediate exposure to –forex, stocks, ETFs, commodities, crypto, social/copy trading, and other high-growth fintech markets.

The Company believes its proprietary technology and software development capabilities allow legacy financial services companies

immediate exposure to –forex, stocks, ETFs, commodities, social/copy trading, and other high-growth fintech markets.

December 2021 onwards, the Company expects to grow from its acquisition strategy, specializing in buying and integrating small to mid-size

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increase client retention, and realize cost synergies.

we have three primary business segments, (1) Wealth Management, (2) Technology and Software Development, and (3) Margin Brokerage Business.

The Company has signed a definitive agreement to acquire a controlling interest in the US Brokerage business pending regulatory approval.

Management – AD Advisory Services Pty Ltd.

December 22, 2021, the Company entered into a Share Exchange Agreement (the “Agreement”) with AD Financial Services Pty Ltd

ACN 628 331 117 of Level 38/71 Eagle St, Brisbane, Queensland, Australia, 4000 (“ADFP” or “Target”).

to the Agreement, the Company acquired 51% of ADFP’s issued and outstanding shares of capital stock in exchange for 45,000,000

(the “Consideration”) newly issued “restricted” common shares.

The operating and licensed entity of ADFP is AD

Advisory Services Pty Ltd.

ADFP owns one hundred percent (100%) equity interest in AD Advisory Services Pty Ltd (“ADS”).

As a result, the Company is 51% owner of ADS.

The Company closed the acquisition on December 22, 2021, and combined the financial statements

of ADS in its annual report, 10-K, filed with the SEC on March 28, 2022.

Advisory Services Pty Ltd.

(ADS) is an Australian-regulated wealth management company with 20 offices, 28 advisors, and $530+ million

in funds under advice.

ADS provides licensing solutions for financial advisers & accountants in Australia.

ADS offers financial planners

different licensing, compliance, and education solutions to meet their practice’s specific needs.

revenues, cost of sales, and gross profits for the fiscal year ending December 31, 2022, were $5,827,732, $5,275,741, and $551,991, respectively.

we have three primary business segments:

(1) Technology and Software Development, (2) Wealth Management, and (3) Investment and Margin

Brokerage Business.

& Software Development – Condor Trading Technology

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Each contract is specific to the customer and clearly defines each party’s fee schedule, duties and responsibilities, renewal and

termination terms, confidentiality agreement, dispute resolution, and other clauses necessary for such contract.

Company is a technology provider and software developer in the cryptocurrency or digital asset space.

The Company does not mine any digital

assets or trade or act as a counterparty in cryptocurrencies.

termination terms, confidentiality agreement, dispute resolution, and other clauses necessary for such a contract.

Company is a technology provider and software developer for digital assets.

The Company does not mine any digital assets or trade or

act as a counterparty in digital assets in the United States.

Consequently, the Company does not intend to register as a custodian with

state or federal regulators, including but not limited to obtaining a money service business or money transmitter license with Financial

state or federal regulators, including but not limited to obtaining a money service business or money transmitter license with the Financial

Crimes Enforcement Network (FinCEN) and respective State’s money transmission laws.

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Company has three sources of revenue.

Solutions – The Company licenses its proprietary and sometimes resells third-party

technologies to customers.

Our proprietary technology includes but is not limited to Condor

Risk Management Back Office (“Condor Risk Management”), Condor Pro Multi-Asset

Trading Platform (previously known as Condor FX Pro Trading Terminal), Condor Pricing Engine,

Crypto Web Trader Platform, and other cryptocurrency-related solutions.

Solutions – The Company licenses its proprietary and sometimes resells third-party technologies to customers.

Our proprietary

technology includes but is not limited to Condor Risk Management Back Office (“Condor Risk Management”), Condor Pro Multi-Asset

Trading Platform (previously known as Condor FX Pro Trading Terminal), Condor Pricing Engine, Digital Assets Web Trader Platform,

and other digital assets-related solutions.

Software Development – The Company develops software for Customers with unique requirements outlined in the Software Development

Agreement (“Agreement”).

Services – The Company’s turnkey business solutions - Start-Your-Own-Brokerage (“SYOB”), Start-Your-Own-Prime

Brokerage (“SYOPB”), Start-Your-Own-Crypto Exchange (“SYOC”), FX/OTC liquidity solutions, and lead generations.

Services— The Company’s turnkey business solutions include Start-Your-Own brokerage (“SYOB”), Start-Your-Own

Prime Brokerage (“SYOPB”), and FX/OTC liquidity solutions.

the retail foreign exchange trading space, where individuals speculate on the exchange rate between different currencies, our customers

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The Company generates revenues by licensing its trading technology

infrastructure, including but not limited to the trading platform (desktop, web, mobile), back office, and CRM and banking integration

Company acts as an adviser/strategic consultant and reseller of its proprietary technologies in the cryptocurrency and blockchain space.

The Company expects to generate additional revenue from its crypto-related solutions.

Such solutions include revenues from the development

of a custom crypto exchange platform for customers, the sale of the non-exclusive source code of the crypto exchange platform to third

parties, white-label fees of crypto exchange platforms, and the sale of aggregated cryptocurrency data price feed from various crypto

exchanges to OTC brokers.

The Company initially plans to develop the technology architecture of the crypto exchange platform for its

The initial capital required to produce such technologies comes from our customers as the Company takes on design-build software

development projects for customers.

The Company develops these projects to meet the customer’s design criteria and performance

requirements.

infrastructure, including but not limited to trading platforms (desktop, web, mobile), back office, and CRM and banking integration

Company acts as an adviser/strategic consultant and reseller of its proprietary technologies in the digital assets and blockchain space.

The Company expects to generate additional revenue from its digital asset-related solutions.

Such solutions include revenues from the

development of a custom digital assets exchange platform for customers, the sale of the non-exclusive source code of the digital assets

exchange platform to third parties, white-label fees of digital assets exchange platforms, and the sale of aggregated digital assets

data price feed from various digital assets exchanges to OTC brokers.

The Company initially plans to develop the technology architecture

of the digital assets exchange platform for its customers.

The initial capital required to produce such technologies comes from our customers

as the Company takes on design-build software development projects for customers.

The Company develops these projects to meet the customer’s

design criteria and performance requirements.

Company has completed the Condor Pro Multi-Asset Trading Platform, previously known as the Condor FX Trading Platform.

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alert system, margin calls, etc.), a pricing engine (best bid/ask), and connectivity to multiple liquidity providers or market makers.

We have tailored the Condor Pro Multi-Asset Trading Platform to markets such as forex, stocks, commodities, cryptocurrencies, and other

We have tailored the Condor Pro Multi-Asset Trading Platform to markets such as forex, stocks, commodities, digital assets, and other

financial products.

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Company’s upgraded Condor Back Office (Risk Management) meets various jurisdictions’ regulatory requirements.

Office meets the directives under the Markets in Financial Instruments Directive (MiFID II/MiFIR), legislation by European Securities

Office meets the directives under the Markets in Financial Instruments Directive (MiFID II/MiFIR), legislation by the European Securities

and Market Authority (ESMA) implemented across the European Union on January 3, 2018.

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stocks, ETFs, and other financial markets from their mobile phones.

The Company expects to commercialize the Condor Investing & Trading

App by the end of the second quarter of the fiscal year ending December 31, 2023.

The Company expects to commercialize the Condor Investing & Trading App by the end of the fourth quarter of

the fiscal year ending December 31, 2024.

Company had developed NFT Marketplace, a decentralized NFT marketplace, a multichain platform with a lazy minting option to reduce and

limit unnecessary blockchain usage fees, also known as gas fees.

The Company has no plans to commercialize the NFT Marketplace in the

fiscal year ending December 31, 2023, as the market for NFT has slowed considerably.

The Company did not commercialize the NFT Marketplace in the fiscal

year ending December 31, 2023, as the market for NFT has slowed considerably.

Company and its subsidiary, ADS, intend to develop a digital wealth management company, initially including a Robo Advice Platform catering

to Australia’s wealth management industry.

The Company expects to commercialize the Robo Advice Platform by the fiscal year ending

December 31, 2023.

consolidated revenues, cost of sales, and gross profits for Technology and Software Development for the fiscal year ending December 31,

2022, were $626,000, $159,051, and $466,949, respectively.

Brokerage (Europe and the Middle East) – NSFX Ltd.

The Company does not expect to commercialize the Robo Advice Platform.

consolidated revenues for Technology and Software Development for the fiscal year ending December 31, 2023, and 2022 were $1,811,423

and $626,600, respectively.

Management – AD Advisory Services Pty Ltd.

December 22, 2021, the Company entered into a Share Exchange Agreement (the “Agreement”) with AD Financial Services Pty Ltd

ACN 628 331 117 of Level 38/71 Eagle St, Brisbane, Queensland, Australia, 4000 (“ADFP” or “Target”).

to the Agreement, the Company acquired a controlling interest of fifty-one percent (51.00%) of ADFP’s issued and outstanding shares

of capital stock in exchange for 45,000,000 (the “Consideration”) newly issued “restricted” common shares.

operating and licensed entity of ADFP is AD Advisory Services Pty Ltd.

ADFP owns one hundred percent (100.00%) equity

interest in ADS.

As a result, the Company owns 51.00% of ADS.

The Company closed the acquisition on December 22, 2021, and combined the

financial statements of ADS in its annual report, 10-K, filed with the SEC on March 28, 2022.

Advisory Services Pty Ltd.

(ADS) is an Australian-regulated wealth management company with 28 financial advisors and $530+ million in

funds under advice.

ADS provides licensing solutions for financial advisers and accountants in Australia and offers financial planners

different licensing, compliance, and education solutions to meet their practice’s specific needs.

consolidated revenues for the fiscal year ending December 31, 2023, and 2022 were $5,927,424 and $5,827,731, respectively.

Brokerage (Europe) – Alchemy Markets Ltd.

December 31, 2022, the Company announced the sales purchase agreement (“Agreement”) under which the Company acquired a 50.10%

equity interest in New Star Capital Trading Ltd., a British Virgin Island company (“New Star”) and its operating subsidiary

NSFX Ltd (“NSFX”).

NSFX is an online trading brokerage firm regulated by the Malta Financial Services Authority (MFSA).

Company will assume a business acquisition loan liability of $350,000 to purchase the controlling interest in NSFX.

The Company amended the Agreement to February 28, 2023, to comply with the BVI Companies Act requirement for the

change of ownership.

The Company expects to consolidate the fair value of NSFX’s assets and liabilities on or after February 28,

2023 but no later than June 30, 2023.

Alchemy Markets Ltd.

(“AML”), formerly known as NSFX Ltd (“NSFX”).

AML is an investment firm regulated by the

Malta Financial Services Authority (MFSA).

Company will assume a business acquisition loan liability of $350,000 to purchase the controlling interest in AML.

The Company amended

the Agreement to June 30, 2023, to comply with the BVI Companies Act requirement for the change of ownership.

The Company closed the

acquisition as of June 30, 2023, and consolidated the fair value of AML’s assets and liabilities from June 30, 2023.

has furnished the Company with its audited balance sheet for the fiscal year ending November 30, 2021, and 2020 (the “Balance Sheet

NSFX provided the related audited statements of operations, stockholders’ equity, and cash flows for the fiscal years

AML provided the related audited statements of operations, stockholders’ equity, and cash flows for the fiscal years

ending November 30, 2021, and 2020.

NSFX has no liabilities other than (i) liabilities reflected in the financial statements and (ii)

liabilities incurred in the ordinary course of business since the balance sheet date.

PricewaterhouseCoopers (PwC) is the auditor of

AML has no liabilities other than (i) liabilities reflected in the financial statements and (ii)

liabilities incurred in the ordinary course of business from the balance sheet date.

PricewaterhouseCoopers (PwC) is the auditor of AML.

Company completed the acquisition of the remaining 49.90% of the issued and outstanding shares of Alchemy Markets Holdings Ltd (Alchemy

BVI), formerly known as New Star and its subsidiary AML on November 30, 2023 (“Acquisition Date”), from Alchemy Prime Holdings

(APHL), through an exchange for 833,621 Series B preferred convertible stocks (“Series B Preferred Stock”) valued at

Kundnani (“Kundnani”) is the (sole) natural person holding one hundred percent (100%) shareholding in the APHL.

(“Control Person”) is also a controlling shareholder in the Company.

is authorized to deal with its account (market maker) as a Category 3 licensed entity by the MFSA, receive and transmit orders for retail

and professional clients, and hold and control clients’ money and assets.

NSFX trading platform services in the English, French,

German, Italian, and Arabic-speaking markets, whereby customers can trade in currency, commodity, equity, and cryptocurrency-linked derivatives

AML trading platform services in the English, French,

German, Italian, and Arabic-speaking markets, whereby customers can trade in currency, commodity, equity, and digital assets-linked derivatives

in real time.

Brokerage – CIM Securities, LLC

AML is authorized countries to do business include Austria, Belgium, Bulgaria, Cyprus, Czech Republic, Denmark, Estonia,

Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Liechtenstein, Malta, Netherlands, Norway,

Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden.

consolidated revenues for the fiscal year ending December 31, 2023, and 2022 were $4,351,474 and $0, respectively.

The Company has consolidated

revenue of AML from July 1, 2023, to December 31, 2023.

Brokerage (UK) – Alchemy Prime Ltd.

Company”) completed the acquisition of 100.00% of the issued and outstanding shares of Alchemy Prime Limited (“APL”)

on November 30, 2023 (“Acquisition Date”) from APHL, through an exchange for 966,379 Series B Preferred Stock valued at $1,362,594.

is the (sole) natural person holding one hundred percent (100%) shareholding in the APHL.

Kundnani (“Control Person”) is

also a controlling shareholder in the Company.

is an investment firm regulated by the Financial Conduct Authority (‘FCA’).

It provides investment advice, acts as agent and principal, safeguards

and administers assets in forex, equity, commodities, spread bets, and other financial assets, and is authorized to do business in several

countries, including England, Scotland, Wales, and Northern Ireland.

consolidated revenues for the fiscal year ending December 31, 2023, and 2022 were $664,579 and $0, respectively.

The Company has consolidated

APL’s revenue from December 1, 2023, to December 31, 2023.

of CIM Acquisition

July 19, 2022, the Company signed a non-binding letter of intent to acquire fifty-one percent (51.00%) equity interest in CIM Securities,

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regulatory approval, paid a $20,000 non-refundable deposit, and transferred $180,000 to the escrow account to complete the transaction.

FINRA Rule 1017 requires the Company to file continuing membership applications (CMAs) as it plans to apply for changes in ownership,

control, and business operations.

The Company filed the CMA form with FINRA in February 2023 to effect the change of ownership of CIM

Securities, LLC, where the Company interest shall be 51.00%.

The Company filed the CMA form with FINRA in February 2023.

Once the Company receives approval from FINRA and pays the balance of $180,000,

it will start consolidating income statements and balance sheets as it holds the controlling interest in CIM Securities.

July 31, 2023, the Company sent the notice of termination of the purchase agreement to CIM Securities as future events may result in

a change of ownership in the CMA application.

The Company believes that this would cause further delays in the approval process.

board has mandated the management team to concentrate on expanding and developing our core non-US forex business to maximize shareholder

of the FRH Group Note

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The Company executed Convertible Promissory Notes, due between February 28, 2018, and April 24, 2019.

The Notes were convertible into

common stock initially at $0.10 per share but discounted under certain circumstances.

The Notes were initially convertible

into common stock at $0.10 per share but discounted under certain circumstances.

In no event will the conversion price be less than $0.05

$0.05 per share with a maximum of 20,000,000 shares should FRH converts the entire note.

On February 22, 2021, the Company entered into

an Assignment of Debt Agreement (the “Agreement”) with FRH and FRH Group Corporation.

The Company eliminated all four FRH

Group convertible notes, including interest, of $1,256,908, in return for the issuance of 12,569,080 of unregistered common stock of

the Company (the “Shares”) to FRH.

Following the Agreement, FRH assigned the Shares to FRH Group Corporation, also owned

per share with a maximum of 20,000,000 shares should FRH decide to convert the entire note.

On February 22, 2021, the Company entered

into an Assignment of Debt Agreement (the “Agreement”) with FRH and FRH Group Corporation.

The Company eliminated all four

FRH Group convertible notes, including interest, of $1,256,908 in return for issuing 12,569,080 of unregistered common stock of the Company

(the “Shares”) to FRH.

Following the Agreement, FRH assigned the Shares to FRH Group Corporation, also owned by Mr.

of Acquisition of Genesis Financial, Inc.

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corporation (“Genesis” or “Seller”).

As of the termination date, the Company did not issue any Securities to

As of the termination date, the Company has not issued any securities to

The Company could not complete nor qualify the Agreement as Genesis could not comply with several non-exhaustive material

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providers where ADS holds an Australian Financial Services License (AFSL) and meets various compliance, conduct, and disclosure obligations.

is an online trading brokerage firm regulated by the Malta Financial Services Authority (MFSA).

is an investment firm regulated by the Malta Financial Services Authority (MFSA).

is an investment firm regulated by the Financial Conduct Authority (FCA).

January 1, 2021, Naim Abdullah resigned as the Director of the Company.

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Mulund College of Commerce, Mumbai, India.

the termination of Mr.

Kerridge and the resignation of Mr.

Provini, the Company currently had four Board of Directors.

is the acting Chairman of the Company.

Eaglstein and Imran Firoz are the executive directors and officers of the Company.

Kerridge’s termination and Mr.

Provini’s resignation, the Company has four Board of Directors.

Eaglstein is the acting Chairman of the Company.

Eaglstein and Imran Firoz are the company’s executive directors and

Kundnani is considered an executive director by owning the Company’s stock of at least 10%.

Jonathan Baumgart is an independent

director under NYSE and NASDAQ listing standards.

Jonathan Baumgart

is an independent director under NYSE and NASDAQ listing standards.

in Registrant’s Certifying Accountant

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not qualified or modified for uncertainty audit scope or accounting principles.

July 2, 2021, the Company appointed BF Borgers CPA PC (“BFB”) as the Company’s new independent registered public accounting

firm, effective immediately, to perform independent audit services for the fiscal year ending December 31, 2021.

BFB has been the auditor

of the Company since July 2021.

to rounding, numbers presented in the financial statements for the period ending December 31, 2022, and 2021, and for December 31, 2021,

and throughout the report may not add up precisely to the totals provided, and percentages may not exactly reflect the absolute figures.

July 2, 2021, the Company appointed BF Borgers CPA PC (“BFB”) as the Company’s new independent registered public

accounting firm, effective immediately, to perform independent audit services for the fiscal year ending December 31, 2021.

been the Company’s auditor since July 2021.

On April 18, 2023, the board of directors of FDCTech, Inc.

“Company”) terminated its relationship with its independent registered public accounting firm, BF Borgers CPA PC,

Lakewood, Colorado (“BF Borgers”), effective as of April 18, 2023.

The reports of BF Borgers on the Company’s

financial statements for the two years ended December 31, 2022, and 2021 did not contain an adverse opinion or disclaimer of

They were not qualified or modified as to uncertainty, audit scope, or accounting principles, except for providing a

qualification for the Company’s ability to continue as a going concern.

During the year ended December 31, 2022, and in the

subsequent period through March 31, 2023, there were no disagreements with BF Borgers on any matter of accounting principles or

practices, financial statement disclosure, or auditing scope or procedure, which, if not resolved to the satisfaction of BF Borgers,

would have caused BF Borgers to refer to the matter in its reports on the Company’s financial statements for such

April 18, 2023, the Company, based on the decision of its board of directors, approved the engagement of Bolko & Company, Boca Raton,

Florida (“Bolko”) to serve as the Company’s independent registered public accounting firm, commencing April 18, 2023.

On March 4, 2024, the board of directors of the “Company terminated its relationship with its independent registered public accounting

firm, Bolko & Company, Boca Raton, Florida (“Bolko”), effective as of March 4, 2024.

Company retained Bolko for less than a year, and we did not file any Form 10K reports with the SEC.

During the period that Bolko was

the Company’s auditor through March 4, 2024, there were no disagreements with Bolko on any matter of accounting principles or practices,

financial statement disclosure, or auditing scope or procedure, which, if not resolved to the satisfaction of Bolko, would have caused

Bolko to refer to the matter in its reports on the Company’s financial statements for such periods.

March 4, 2024, the Company, based on the decision of its board of directors, approved the engagement of Fortune CPA Inc., Orange, California

(“FCPA”) to serve as the Company’s independent registered public accounting firm, commencing March 4, 2024.

On July 2, 2024, the Company, based on the decision of its board of directors, approved the engagement of Olayinka

Oyebola & Co (“Olayinka”) to serve as the Company’s independent registered public accounting firm, commencing July

Olayinka is a member of Public Company Accounting Oversight Board (PCAOB) in the United States and member of Canadian Public

Accountability Board (CPAB) in Canada.

to rounding, numbers presented in the financial statements for the period ending December 31, 2023, and 2022, and throughout the report,

may not add up precisely to the totals provided, and percentages may not reflect the absolute figures.

of Company’s Securities to be Registered

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March 2020, the World Health Organization declared the outbreak of a novel coronavirus (COVID-19) pandemic throughout the United States.

While the initial outbreak concentrated in China, it spread to several other countries, including Russia and Cyprus, and reported infections

Many countries worldwide, including the United States, have implemented significant governmental measures to control the spread

of the virus, including temporary closure of businesses, severe restrictions on travel and the movement of people, and other material

limitations on trade.

These measures have resulted in work stoppages, absenteeism in the Company’s labor workforce, and other disruptions.

While the initial outbreak concentrated in China, it spread to several other countries, including Russia and Cyprus, and infections were

reported globally.

Many countries worldwide, including the United States, have implemented significant governmental measures to control

the spread of the virus, including temporary closure of businesses, severe restrictions on travel and the movement of people, and other

material limitations on trade.

These measures have resulted in work stoppages, absenteeism in the Company’s labor workforce, and

other disruptions.

The extent to which the coronavirus impacts our operations will depend on future developments.

These developments are highly uncertain.

We cannot predict them with confidence, including the duration and severity of the outbreak and the actions required to contain the coronavirus

or treat its impact.

In particular, the spread of the coronavirus globally could adversely impact our operations and workforce, including

our marketing and sales activities and ability to raise additional capital, which could harm our business, financial condition, and operation

These developments

are highly uncertain.

We cannot predict them with confidence, including the duration and severity of the outbreak and the actions required

to contain the coronavirus or treat its impact.

In particular, the spread of the coronavirus globally could adversely impact our operations

and workforce, including our marketing and sales activities and ability to raise additional capital, which could harm our business, financial

condition, and operation results.

Ukraine-Russia

geopolitical situation in Eastern Europe intensified on February 24, 2022, with Russia’s invasion of Ukraine.

The war between

the two countries continues to evolve as military activity continues.

The United States and certain European countries have imposed

additional sanctions on Russia and specific individuals.

By the end of August 2022, the Company closed its technical support and

development office in Russia.

We relocated our personnel to Turkey, currently considered a neutral zone.

No individual associated

with the Company is banned or under the Special Designated Nationals and Blocked Person list.

If the military activities worsen and

expand in Europe, we may relocate our office from Turkey to other neutral zones in Asia.

It may impact our software development capabilities and the Company's business plans if we cannot relocate our technical

and development operations to a safer zone.

The war between the

two countries continues to evolve as military activity continues.

The United States and certain European countries have imposed additional

sanctions on Russia and specific individuals.

By the end of August 2022, the Company closed its technical support and development office

We relocated our personnel to Turkey and Kazakhstan, which are considered neutral zones.

No individual associated with the

Company is banned or under the Special Designated Nationals and Blocked Person list.

If the military activities worsen and expand in

Europe, we may relocate our office from Turkey to other neutral zones in Asia.

It may impact our software development capabilities and

the Company’s business plans if we cannot relocate our technical and development operations to a safer zone.

of the date of this report, there has been no disruption in our operations.

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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.

What changed 10-K

Item 1. Business