2 unchanged sentences
The Company does not enter into derivatives, foreign exchange transactions or other financial instruments for trading or speculative purposes.
−Removed: The Company is exposed to market risk related to changes in interest rates and market pricing impacting our investment portfolio.
−Removed: Its current investment policy is to maintain an investment portfolio consisting of municipal bonds and United States money market securities directly or through managed funds.
−Removed: Its cash is deposited in and invested through highly rated financial institutions in North America.
−Removed: Its marketable securities are subject to interest rate risk and market pricing risk and will fall in value if market interest rates increase or if market pricing decreases.
−Removed: If market interest rates were to increase and market pricing were to decrease immediately and uniformly by 10% from levels at December 31, 2021, the Company estimates that the fair value of its investment portfolio would decline by an immaterial amount and therefore it would not expect its operating results or cash flows to be affected to any significant degree by the effect of a change in market conditions on our investments.
−Removed: Table of Conte n t s
+Added: The Company does not hold any municipal bonds or United States money market securities as of December 31, 2022.
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.