Quantitative and Qualitative Disclosures About Market Risk
−Removed: The Company’s operations are exposed to market risks primarily as a result of changes in interest rates.
−Removed: The Company does not use derivative financial instruments for speculative or trading purposes.
The Company’s exposure to market risk for changes in interest rates relates to its cash equivalents.
−Removed: The Company’s cash equivalents consist of funds invested in money market accounts, which bear interest at a variable rate.
−Removed: The Company does not participate in interest rate hedging.
−Removed: Cash balances are maintained with two major banks.
−Removed: Balances on deposit with certain money market accounts and operating accounts may exceed the Federal Deposit Insurance Corporation limits.
−Removed: 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.
−Removed: Assuming that the balances during the nine months ended June 30, 2025 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 $3,717 with a resulting impact on cash flows of approximately $3,717 for the nine months ended June 30, 2025.
+Added: The Company’s cash equivalents consist of funds invested in money market funds, which bear interest at a variable rate.
+Added: A change in interest rates earned on the Company’s cash equivalents would impact interest income and cash flows but would not impact the fair market value of the underlying instruments.
+Added: Assuming that the balances during the three months ended December 31, 2025 were to remain constant and that the Company did not act to alter the existing interest rate sensitivity, a hypothetical +/-1% change in interest rates would not have a material impact on our results of operations, financial position or cash flows.
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.