−Removed: AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
−Removed: are exposed to various market risks, which include potential losses arising from adverse changes in market rates and prices, such as
−Removed: interest rates.
−Removed: We do not enter into derivatives or other financial instruments for trading or speculative purposes.
−Removed: Our interest rate risk exposure results from our investment portfolio.
−Removed: Our primary objectives in managing our
−Removed: investment portfolio are to preserve principal, maintain proper liquidity to meet operating needs and maximize yields.
−Removed: The securities
−Removed: we hold in our investment portfolio are subject to interest rate risk.
−Removed: At any time, sharp changes in interest rates can affect the fair
−Removed: value of the investment portfolio and its interest earnings.
−Removed: After a review of our marketable investment securities, we believe that
−Removed: in the event of a hypothetical ten percent increase in interest rates, the resulting decrease in fair value of our marketable investment
−Removed: securities would be insignificant to the consolidated financial statements.
−Removed: Currently, we do not hedge these interest rate exposures.
−Removed: We have established policies and procedures to manage exposure to fluctuations in interest rates.
−Removed: We place our investments with high
−Removed: quality issuers and limit the amount of credit exposure to any one issuer and do not use derivative financial instruments in our investment
−Removed: We invest in highly liquid, investment-grade securities and money market funds of various issues, types and maturities.
−Removed: securities are classified as available-for-sale and, consequently, are recorded on the balance sheet at fair value with unrealized gains
−Removed: or losses reported as accumulated other comprehensive income as a separate component in stockholders’ deficit unless a loss is
−Removed: deemed other than temporary, in which case the loss is recognized in earnings.
+Added: AND QUALITATIVE DISCLOSURES ABOUT MARKET RISKS
+Added: have been no material changes to the Company’s market risk during the first nine months of 2022.
+Added: For a discussion of the Company’s
+Added: exposure to market risk, refer to the Company’s market risk disclosures set forth in Part II, Item 7A, “Quantitative and
+Added: Qualitative Disclosures About Market Risk” of the 2021 Form 10-K.
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.