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Money Market Investments
−Removed: We maintain an investment portfolio consisting
+Added: We maintain an investment portfolio consisting of U.S.
or Canadian obligations and bank securities and money market investments in compliance with our investment policy.
−Removed: not hold any mortgaged-backed investments in our investment portfolio.
−Removed: Securities must have a minimum Dun & Bradstreet
−Removed: rating of A for bonds or R1 low for commercial paper.
−Removed: The policy also provides for investment limits on concentrations of securities
−Removed: by issuer and maximum-weighted average time to maturity of twelve months.
+Added: We do not hold any mortgaged-backed investments in our investment portfolio.
+Added: Securities must have a minimum Dun & Bradstreet rating of A for bonds or R1 low for commercial paper.
+Added: The policy also provides for investment limits on concentrations of securities by issuer and maximum-weighted average time to maturity of twelve months.
This policy applies to all of our financial resources.
−Removed: December 31, 2020, we had $29.6 million in money market investments and savings accounts as compared to $13.3 million
−Removed: at December 31, 2019;
+Added: At December 31, 2021, we had $21.0 million in money market investments and savings accounts as compared to $29.6 million at December 31, 2020;
these investments typically have minimal risk.
−Removed: We have not experienced any loss or write
−Removed: down of our money market investments for the years ended December 31, 2020 and 2019;
−Removed: however, the amounts we hold in money
−Removed: market accounts are substantially above the $250,000 amount insured by the FDIC and may lose value.
−Removed: Our investment policy is to manage investments
−Removed: to achieve, in the order of importance, the financial objectives of preservation of principal, liquidity and return on investment.
−Removed: risk associated with fluctuating interest rates on our investments is minimal and not significant to the results of operations.
−Removed: currently do not use interest rate derivative instruments to manage exposure to interest rate changes.
−Removed: As our main purpose
−Removed: is research and development, we have chosen to avoid investments of a trade or speculative nature.
+Added: We have not experienced any loss or write down of our money market investments for the years ended December 31, 2021 and 2020;
+Added: however, the amounts we hold in money market accounts are substantially above the $250,000 amount insured by the FDIC and may lose value.
+Added: Our investment policy is to manage investments to achieve, in the order of importance, the financial objectives of preservation of principal, liquidity and return on investment.
+Added: Our risk associated with fluctuating interest rates on our investments is minimal and not significant to the results of operations.
+Added: We currently do not use interest rate derivative instruments to manage exposure to interest rate changes.
+Added: As our main purpose is research and development, we have chosen to avoid investments of a trade or speculative nature.
Foreign Currency Exposure
−Removed: We are subject to foreign currency risks
−Removed: as we purchase goods and services which are denominated in Canadian dollars.
−Removed: To date, we have not employed the use of derivative
+Added: We are subject to foreign currency risks as we purchase goods and services which are denominated in Canadian dollars.
+Added: To date, we have not employed the use of derivative instruments;
however, we do hold Canadian dollars which we use to pay vendors in Canada and other corporate obligations.
−Removed: December 31, 2020, we held approximately Can$59,000.
+Added: At December 31, 2021, we held approximately CAD$0.03.
+Added: Financial Statements and Supplementary Data
+Added: The financial statements required to be filed pursuant to this Item 8 are appended to this Annual Report on Form 10-K.
+Added: A list of the financial statements filed herewith is found at “Index to Financial Statements” on Page F-1.
+Added: Changes in and Disagreements with Accountants on Accounting and Financial Disclosure
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.