Item 3. Quantitative and Qualitative Disclosures About Market Risk
Item
3. Quantitative and Qualitative Disclosures About Market Risk.
As
of September 30, 2022, our exposure to market risk was primarily from our At-The-Market Facility. During the quarter the price at which
we sold our common stock per share fluctuated from $5.54 to $18.24 with an average price per share of $11.85. We also have interest rate
risk associated with our RLOC and Term Loan facilities, both of which bear interest at a variable rate tied to the Wall Street Journal
Prime Rate. We have no other floating debt obligations. Our interest rate exposure will be primarily due to differences between our floating
rate debt obligations compared to our floating rate short-term investments. Our ability to borrow under our debt facilities is based
upon a floating formula regarding the value of collateral, which is our owned bitcoin, thus decreases in the market price for bitcoin
limit our ability to borrow under the facility.
There
have been no other material changes in our primary risk exposures or management of market risks as of this quarter.
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