What changed in this filing

/stocks — the workspaceLOADING

Item 1A. Risk Factors

2020-10-21 compared with 2020-07-22 · 25 added, 44 removed, 39 unchanged (64% of the section changed)

2 unchanged sentences

factors disclosed in our Annual Report on Form 10-K for the fiscal year ended

March 31, 2020, except the following two risk factors are replaced in their

entirety by the following to reflect the expiration of certain COVID-19 related

restrictions:

Public health crises could have an adverse effect on our operations and

financial results.

Public health crises could adversely affect our

ongoing business operations.

In particular, the COVID-19 pandemic has severely

impacted global economic activity and caused many of our important customers to

delay or cancel orders.

We were allowed to operate under Minnesota Emergency Executive

Orders because the Company is in several Critical Sectors as defined

in the Orders, however there can be no assurance we will be exempted from any

future restrictions imposed by Federal, State, or local authorities in response

to possible future surges or waves of COVID-19.

Such restrictions

could limit or prohibit our operations.

Furthermore, if one or more of our employees

become infected with COVID-19, we could be forced to curtail or cease operations

to protect the health of our employees or to prevent the spread of the disease.

Additionally, any customer or supplier disruptions could affect our ability to

These and other impacts of COVID-19 pandemic or other public health crises

could have a material adverse effect on our results of operations or our financial

March 31, 2020 as updated in our Quarterly Report on Form 10-Q for the quarter

ended June 30, 2020, except the following risk factor is replaced in its

entirety by the following to update the effects of the COVID-19 pandemic on one

of our packaging vendors:

The loss of supply from any of our packaging vendors could impact our ability

10 unchanged sentences

One of our packaging vendors was forced to suspend its factory operations

from late March 2020 until mid-May, and has been permitted only limited operation

since mid-May pursuant to COVID-19 government orders.

The COVID-19 pandemic has

also caused shortages of materials and subassemblies our packaging vendors need

for the packaging process.

Additionally, certain of our packaging vendors are

in flood-susceptible areas.

Flooding risks to such vendors may increase in the

future due to possible higher ocean levels, extreme weather, and other potential

effects of climate change.

We have alternate vendors or potential alternate vendors

for the majority of our products, but it can be expensive, time-consuming, and

technically challenging to convert to alternate vendors.

Furthermore, we may not

be able to recover work in process or finished goods at a packaging vendor in

the event of a disruption.

Any supply interruptions or loss of inventory could

seriously jeopardize our ability to provide products that are critical to our

business and operations and may cause us to lose revenue.

from late March 2020 until mid-May 2020 and

was permitted only limited operation from mid-May through August 2020 pursuant

to COVID-19 government orders.

The vendor also cited personnel shortages related

to the COVID-19 pandemic, and the pandemic has caused shortages of raw materials

and subassemblies our packaging vendors need for the packaging process.

Additionally,

certain of our packaging vendors are in flood-susceptible areas.

Flooding risks

to such vendors may increase in the future due to possible higher ocean levels,

extreme weather, and other potential effects of climate change.

We have alternate

vendors or potential alternate vendors for the majority of our products, but it

can be expensive, time-consuming, and technically challenging to convert to alternate

Furthermore, we may not be able to recover work in process or finished

goods at a packaging vendor in the event of a disruption.

Any supply interruptions

or loss of inventory could seriously jeopardize our ability to provide products

that are critical to our business and operations and may cause us to lose revenue.

Mine Safety Disclosures.

19 unchanged sentences

NVE CORPORATION

July 22, 2020

October 21, 2020

/s/ DANIEL A.

President and Chief Executive Officer

July 22, 2020

October 21, 2020

Chief Financial Officer

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.

What changed 10-Q

Item 1A. Risk Factors