QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
−Removed: Our exposure to market risk is primarily confined to our investment securities and debt.
+Added: Our exposure to market risk is primarily confined to our investment securities.
The primary objective of our investment activities is to preserve our capital to fund operations, and we do not enter into financial instruments for trading or speculative purposes.
3 unchanged sentences
In accordance with our investment policy, we invest funds in highly liquid, investment-grade securities.
−Removed: The securities in our investment portfolio are not leveraged and are classified as available-for-sale.
+Added: The securities in our investment portfolio are not leveraged and are classified as available-for-sale or held-to-maturity.
We currently do not hedge interest rate exposure.
Because of the short-term maturities of our investments, we do not believe that an increase in market rates would have a material negative effect on the realized value of our investment portfolio.
−Removed: We actively monitor changes in interest rates and, with our current portfolio of short-term investments, we are not exposed to potential loss due to changes in interest rates.
+Added: We actively monitor changes in interest rates and, with our current portfolio of short-term investments which we intend to hold to maturity, we are not exposed to significant loss due to changes in interest rates.
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.