Quantitative and Qualitative Disclosures About Market Risk
−Removed: Company’s operations are exposed to market risks primarily as a result of changes in interest rates.
−Removed: The Company does not use derivative
−Removed: financial instruments for speculative or trading purposes.
−Removed: The Company’s exposure to market risk for changes in interest rates relates
−Removed: to its cash equivalents.
−Removed: The Company’s cash equivalents consist of funds invested in money market accounts, which bear interest
−Removed: at a variable rate.
+Added: The Company’s operations are exposed to market risks primarily as a result of changes in interest rates.
+Added: The Company does not use derivative financial instruments for speculative or trading purposes.
+Added: The Company’s exposure to market risk for changes in interest rates relates to its cash equivalents.
+Added: The Company’s cash equivalents consist of funds invested in money market accounts, which bear interest at a variable rate.
The Company does not participate in interest rate hedging.
Cash balances are maintained with two major banks.
−Removed: on deposit with certain money market accounts and operating accounts may exceed the Federal Deposit Insurance Corporation limits.
−Removed: in interest rates earned on the cash equivalents would impact interest income and cash flows but would not impact the fair market value
−Removed: of the related underlying instruments.
−Removed: Assuming that the balances during the three- month period ended March 31, 2021 were
−Removed: to remain constant and the Company did not act to alter the existing interest rate sensitivity, a hypothetical 1% increase in variable
−Removed: interest rates would have affected interest income by approximately $12,000 and $41,000 with a resulting impact on cash flows of approximately
−Removed: $12,000 and $41,000 for the three- and six-month periods ended March 31, 2021.
+Added: Balances on deposit with certain money market accounts and operating accounts may exceed the Federal Deposit Insurance Corporation limits.
+Added: A change in interest rates earned on the cash equivalents would impact interest income and cash flows but would not impact the fair market value of the related underlying instruments.
+Added: Assuming that the balances during the three-month period ended June 30, 2021 were to remain constant and the Company did not act to alter the existing interest rate sensitivity, a hypothetical 1% increase in variable interest rates would have affected interest income by approximately $14,000 and $67,000 with a resulting impact on cash flows of approximately $14,000 and $67,000 for the three- and nine-month periods ended June 30, 2021.
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.