2 unchanged sentences
on the Nasdaq Capital Market under the trading symbol “FENC” and in Canada on the TSX under the trading symbol “FRX”.
−Removed: The following table sets forth the quarterly high and low market closing prices and average daily trading volume on the Nasdaq Capital Market and the TSX for the two most recent full fiscal years:
−Removed: Nasdaq Capital Market
−Removed: Toronto Stock Exchange
−Removed: (in Canadian dollars)
−Removed: Quarter ended 12/31/21
−Removed: Quarter ended 09/30/21
−Removed: Quarter ended 06/30/21
−Removed: Quarter ended 03/31/21
−Removed: Quarter ended 12/31/20
−Removed: Quarter ended 09/30/20
−Removed: Quarter ended 06/30/20
−Removed: Quarter ended 03/31/20
−Removed: As of February 25, 2022, the last reported sale on the TSX was CAD$6.96 per share and the last reported sale on the Nasdaq Capital Market was $5.43 per share.
Record Holders
−Removed: As of February 25, 2022, there were approximately 29 shareholders of record of our common shares, one of which was Cede & Co., a nominee for Depository Trust Company, and one of which was The Canadian Depository for Securities Limited (“CDS”).
+Added: As of March 27, 2023, there were approximately 27 shareholders of record of our common shares, one of which was Cede & Co., a nominee for Depository Trust Company, and one of which was The Canadian Depository for Securities Limited (“CDS”).
All of our common shares held by brokerage firms, banks and other financial institutions in the U.S.
or Canada as nominees for beneficial owners are considered to be held of record by Cede & Co.
+Added: and CDS, respectively;
in respect of brokerage firms, banks and other financial institutions located in Canada.
30 unchanged sentences
Tax Convention”), and administrative rulings and judicial decisions interpreting the Code and the United States Treasury Regulations, all as currently in effect, and all subject to differing interpretations or change, possibly on a retroactive basis.
−Removed: We have not sought, and will not seek, a ruling from the IRS regarding any matter discussed herein, and no assurance can be given that the IRS would not assert, or that a court would not sustain, a position that is different from, and contrary to, the positions taken in this summary.
+Added: We have not sought, and will not seek, a ruling from the IRS regarding any matter discussed herein,
+Added: and no assurance can be given that the IRS would not assert, or that a court would not sustain, a position that is different from, and contrary to, the positions taken in this summary.
This summary does not discuss the potential effects, whether adverse or beneficial, of any proposed legislation.
91 unchanged sentences
holder receives Canadian dollars in the transaction, the amount realized will be the U.S.
−Removed: dollar value of the Canadian dollars received, which is determined
−Removed: for cash basis taxpayers on the settlement date for the transaction and for accrual basis taxpayers on the trade date (although accrual basis taxpayers can also elect the settlement date).
+Added: dollar value of the Canadian dollars received, which is determined for cash basis taxpayers on the settlement date for the transaction and for accrual basis taxpayers on the trade date (although accrual basis taxpayers can also elect the settlement date).
Holder’s tax basis in common shares generally will be such holder’s U.S.
91 unchanged sentences
shareholders of changes in circumstances that would cause us to become a PFIC.
−Removed: shareholders should consult their own tax advisors regarding the application of the PFIC rules including eligibility for and the manner and advisability of making certain elections in the event we are
−Removed: determined to be a PFIC at any point in time.
+Added: shareholders should consult their own tax advisors regarding the application of the PFIC rules including eligibility for and the manner and advisability of making certain elections in the event we are determined to be a PFIC at any point in time.
We intend to take the action necessary for a U.S.
20 unchanged sentences
Holders who are C corporations, as they are entitled to a 50% deduction (37.5% after 2025) of the GILTI income as well as a reduced foreign tax credit on foreign taxes paid on the GILTI income.
−Removed: Holders who are individuals, estates or trusts may pay substantially more tax on GILTI income, as they are subject to ordinary tax rates (ranging from 10% to 37% plus the net investment income tax of 3.8%).
+Added: Holders who are individuals, estates or trusts may pay substantially more tax on GILTI income, as they are subject to ordinary tax rates (ranging from 10% to 37% plus
+Added: the net investment income tax of 3.8%).
Holders are not entitled to a deduction on GILTI income or a reduced foreign tax credit.
31 unchanged sentences
Members of such entities are regarded as holding their proportionate share of our common shares held by the entity for the purposes of the Tax Treaty.
−Removed: Selected Financial Data
Not applicable.
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.