30 unchanged sentences
For the year ended December 31, 2019, net loss was $47,824, or $0.0002 loss per share.
−Removed: For the year ended December 31, 2017, net loss was $60,138, or $0.0002 loss per share.
+Added: For the year ended December 31, 2018, net loss $60,786, or $0.0002 loss per share.
Limited Business History;
64 unchanged sentences
Recent Accounting Pronouncements
+Added: The FASB has issued Accounting Standards Update (ASU) No.
+Added: 2016-01, Financial Instruments – Overall (Subtopic 825-10):
+Added: Recognition and Measurement of Financial Assets and Financial Liabilities.
+Added: The new guidance is intended to improve the recognition and measurement of financial instruments.
+Added: The ASU affects public and private companies, not-for-profit organizations, and employee benefit plans that hold financial assets or owe financial liabilities.
+Added: The new guidance makes targeted improvements to existing U.S.
+Added: -Requiring equity investments (except those accounted for under the equity method of accounting, or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income;
+Added: -Requiring public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes;
+Added: -Requiring separate presentation of financial assets and financial liabilities by measurement category and form of financial asset (i.e., securities or loans and receivables) on the balance sheet or the accompanying notes to the financial statements;
+Added: -Eliminating the requirement to disclose the fair value of financial instruments measured at amortized cost for organizations that are not public business entities;
+Added: -Eliminating the requirement for public business entities to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet;
+Added: -Requiring a reporting organization to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk (also referred to as “own credit”) when the organization has elected to measure the liability at fair value in accordance with the fair value option for financial instruments.
The new guidance is effective for public companies for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years.
74 unchanged sentences
ASU 2018-05 adds the following guidance, among other things, to the FASB Accounting Standards Codification™ regarding the Act:
−Removed: · Question 1:
If the accounting for certain income tax effects of the Act is not completed by the time a company issues its financial statements that include the reporting period in which the Act was enacted, what amounts should a company include in its financial statements for those income tax effects for which the accounting under Topic 740 is incomplete?
4 unchanged sentences
For those income tax effects for which a company was not able to determine a reasonable estimate (such that no related provisional amount was reported for the reporting period in which the Act was enacted), the company would report provisional amounts in the first reporting period in which a reasonable estimate can be determined.
−Removed: · Question 2:
If an entity accounts for certain income tax effects of the Act under a measurement period approach, what disclosures should be provided?
28 unchanged sentences
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.