1 unchanged sentence
We are a leading provider
−Removed: of intelligent wireless solutions including mobile hotspots, routers, trackers, and other devices.
−Removed: Our designs integrate innovative hardware
−Removed: and software enabling machine-to-machine (M2M) applications and the Internet of Things (IoT).
−Removed: Our M2M and IoT solutions include embedded
−Removed: modules, modems and gateways built to deliver reliable always-on connectivity supporting a broad spectrum of applications based on fifth
−Removed: generation and fourth generation (5G/4G) wireless technology.
−Removed: We have a majority ownership
−Removed: position in Franklin Technology Inc.
−Removed: ("FTI"), a research and development company located in Seoul, South Korea.
−Removed: FTI primarily
−Removed: provides design and development services to us for our wireless products.
+Added: of integrated wireless solutions utilizing the latest in 5G (fifth generation) and 4G LTE (fourth generation long-term evolution) technologies
+Added: including mobile hotspots, routers, fixed wireless routers, and various trackers.
+Added: Our integrated software subscription services provide
+Added: users remote capabilities including mobile device management (MDM) and software defined wide area networking (SD-WAN).
+Added: We have majority ownership
+Added: of Franklin Technology Inc.
+Added: (FTI), a research and development company based in Seoul, South Korea.
+Added: FTI primarily provides design and development
+Added: services for our wireless products.
Our products are generally
1 unchanged sentence
Our global customer base
−Removed: extends primarily from North America to the Caribbean and South America and Asia.
+Added: primarily extends from North America and the Caribbean and South America to Asia.
OUR STRUCTURE
8 unchanged sentences
The consolidated financial
−Removed: statements include the accounts of the Company and its subsidiary with a majority voting interest of 66.3% (33.7% is owned by non-controlling
−Removed: interests) as of June 30, 2022 and 2021.
−Removed: For the year ended June 30, 2020, the increase in the majority voting interest in percentage
−Removed: from 64.2% to 66.3% was due to the purchase by the Company of 43,333 shares of the subsidiary for $75,000 ($1.73 per share) from three
−Removed: non-controlling shareholders.
−Removed: The purchase decreased the non-controlling interests’ ownership percentage from 35.8% to 33.7%.
−Removed: In the preparation of consolidated financial statements of the Company, intercompany transactions and balances are eliminated and net
−Removed: earnings are reduced by the portion of the net earnings of the subsidiary applicable to non-controlling interests.
+Added: statements include the accounts of the Company and its subsidiary, Franklin Technology Inc.
+Added: (“FTI”), with a majority voting
+Added: interest of 66.3% (33.7% is owned by non-controlling interests) as of June 30, 2023, and 2022.
+Added: In the preparation of consolidated financial
+Added: statements of the Company, intercompany transactions and balances are eliminated and net earnings (loss) are reduced by the portion of
+Added: the net earnings (loss) of the subsidiary applicable to non-controlling interests.
Accounting Standards Codification
12 unchanged sentences
North America
−Removed: $ 183,771,146
Caribbean and South America
−Removed: $ 184,115,345
Long-lived assets, net (property and equipment and intangible assets):
1 unchanged sentence
June 30, 2022
−Removed: United States
+Added: North America
We are a global leader and
−Removed: innovator in providing the latest mobile technologies to the mass market, which include 5G/4G Mobile Hotspots, 5G/4G Customer Premises
−Removed: Equipment, and MDM solutions.
−Removed: We are a leading enabler of the Digital Divide initiative, and our expertise extends to innovation
−Removed: in Internet of Things (IOT) and machine-to-machine (M2M) applications.
+Added: innovator in providing the latest mobile technologies to the mass market, which include 5G/4G Mobile Hotspots, 5G/4G, fixed wireless routers,
+Added: and MDM solutions.
+Added: We are a leading enabler of the Digital Divide initiative, and our expertise extends to innovation in Internet
+Added: of Things (IOT) and machine-to-machine (M2M) applications.
The following is a sample of the products we offer:
3 unchanged sentences
Our Mobile Hotspot products help remote workers be productive while on the go and help students and educational institutions support remote learning activities.
−Removed: 5G/4G Consumer Home Gateway CPE (Customer-Premises
+Added: 5G/4G Fixed Wireless Routers
Enhanced routing gateway that can provide support for both wired and wireless connectivity, offering solutions for consumers looking to replace Cable or DSL service
13 unchanged sentences
Pintrac Auto tracks, locates, and manages vehicles for consumers and businesses using Franklin’s LTE OBD devices.
+Added: “JEXtream” Franklin’s Cloud based telecom grade server platform for 5G devices and routers, enables enhanced remote management of device functionality.
Our global customer base is
25 unchanged sentences
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.