Quantitative and Qualitative Disclosures About Market Risk
−Removed: Interest Rate Risk
−Removed: We are exposed to market risk
−Removed: related to changes in interest rates on our cash and cash equivalents and the Oaktree Loan.
−Removed: We do not utilize derivative financial instruments
−Removed: or other market risk-sensitive instruments to manage our exposure to interest rate changes.
−Removed: We believe our interest rate
−Removed: risk related to our cash and cash equivalents is not material as our risk is that interest rates fall.
−Removed: Based on the current interest rates,
−Removed: we do not have a significant downside risk of a drop in interest rates.
−Removed: The interest rate risk related
−Removed: to the Oaktree Loan is based on the Secured Overnight Financing Rate (“SOFR”) plus an interest rate spread of 6.5% per annum.
−Removed: A hypothetical increase of 100 basis points in SOFR would impact our interest expense by $1,075,000 per annum based on the outstanding
−Removed: balance under the Oaktree Loan as of March 31, 2025.
+Added: are exposed to market risk related to changes in interest rates on our cash and cash equivalents and the Oaktree Loan.
+Added: We do not utilize
+Added: derivative financial instruments or other market risk-sensitive instruments to manage our exposure to interest rate changes.
+Added: believe our interest rate risk related to our cash and cash equivalents is not material as our risk is that interest rates fall.
+Added: on the current interest rates, we do not have a significant downside risk of a drop in interest rates.
+Added: interest rate risk related to the Oaktree Loan is based on the Secured Overnight Financing Rate (“SOFR”) plus an interest
+Added: rate spread of 6.5% per annum.
+Added: A hypothetical increase of 100 basis points in SOFR would impact our interest expense by $1,075,000 per
+Added: annum based on the outstanding balance under the Oaktree Loan as of June 30, 2025.
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.