What changed in this filing

/stocks — the workspaceLOADING

Item 1. Financial Statements

2022-08-09 compared with 2022-05-09 · 226 added, 137 removed, 231 unchanged (61% of the section changed)

2 unchanged sentences

10-Q are as follows:

Condensed Consolidated Balance Sheets as of March 31, 2022 (unaudited) and December 31, 2021 (unaudited);

Condensed Consolidated Statements of Operations for the three months ended March 31, 2022 and 2021 (unaudited);

Condensed Consolidated Statements of Changes in Stockholders’ Equity for the three months ended March 31, 2022 and 2021 (unaudited);

Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2022 and 2021 (unaudited);

Consolidated Balance Sheets as of June 30, 2022 (unaudited) and December 31, 2021 (unaudited);

Condensed Consolidated

Statements of Operations for the three and six months ended June 30, 2022 and 2021 (unaudited);

Consolidated Statements of Changes in Stockholders’ Equity for the three and six months ended June 30, 2022 and 2021

Condensed Consolidated

Statements of Cash Flows for the six months ended June 30, 2022 and 2021 (unaudited);

Notes to Condensed Consolidated Financial Statements (unaudited).

8 unchanged sentences

Intangible assets, net

Right of use assets, net

Security deposits and other assets

15 unchanged sentences

Stockholders’ Equity

Preferred stock, $ 0.001 par value, 10,000,000 shares authorized, none issued and outstanding at March 31, 2022 or December 31, 2021

Common stock, $ 0.001 par value, 166,666,667 shares authorized, 17,902,608 and 17,860,975 shares issued and outstanding at March 31, 2022 and December 31, 2021, respectively

Preferred stock, $ 0.001 par value, 10,000,000 shares authorized, none issued and outstanding at June 30, 2022 and December 31, 2021

Common stock, $ 0.001 par value, 166,666,667 shares authorized, 18,174,182 and 17,860,975 shares issued and outstanding at June 30, 2022 and December 31, 2021, respectively

Treasury stock

Additional paid-in-capital

3 unchanged sentences

Total Stockholders’ Equity

$ 140,817,202

$ 131,379,717

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY

5 unchanged sentences

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

For the Three Months

Ended March 31,

For the Three Months Ended

For the Six Months Ended

Cost of revenues

4 unchanged sentences

Total operating expenses

Loss from operations

Income (Loss) from operations

( 3,908,530 )

( 7,669,632 )

Interest income

Loss before provision for income taxes

Income (Loss) before provision for income taxes

( 3,884,714 )

( 7,645,812 )

Income tax benefit

Net Income (Loss)

$ ( 3,884,714 )

$ ( 7,645,812 )

$ ( 285,277 )

Weighted average number of shares outstanding – basic

7 unchanged sentences

IN STOCKHOLDERS’ EQUITY

FOR THE THREE MONTHS ENDED MARCH 31, 2022 AND

FOR THE THREE AND SIX MONTHS ENDED JUNE 30,

Treasury Stock

Balance January 1, 2022

3 unchanged sentences

Shares issued for stock options exercised

Shares issued for restricted stock units vested

Stock-based compensation expense

5 unchanged sentences

$ 131,050,845

Shares issued for stock options exercised

Shares issued for acquisition

Repurchase of common stock

Stock-based compensation expense

( 3,884,714 )

Balance June 30, 2022

$ 183,698,497

$ ( 42,899,470

$ 140,817,202

The accompanying notes are an integral part of

these condensed consolidated financial statements.

OPTIMIZERx CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES

IN STOCKHOLDERS’ EQUITY

FOR THE THREE AND SIX MONTHS ENDED JUNE 30,

Additional Paid in

Balance January 1, 2021

8 unchanged sentences

$ 121,835,237

Shares issued as board compensation

Shares issued for stock options exercised

Stock-based compensation expense

Balance June 30, 2021

$ 160,574,661

$ ( 35,917,014 )

$ 124,675,142

The accompanying notes are an integral part of

2 unchanged sentences

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

For the Three Months

Ended March 31,

For the Six Months Ended

CASH FLOWS FROM OPERATING ACTIVITIES:

14 unchanged sentences

( 1,264,045 )

( 1,550,569 )

Operating leases, net

3 unchanged sentences

Purchase of property and equipment

EvinceMed acquisition

( 2,000,000 )

Purchase of intangible assets, including intellectual property rights

NET CASH USED IN INVESTING ACTIVITIES

( 2,186,592 )

CASH FLOWS PROVIDED BY FINANCING ACTIVITIES:

Proceeds from public offering of common stock, net of offering costs

Repurchase of common stock

Proceeds from exercise of stock options

2 unchanged sentences

NET CASH PROVIDED BY FINANCING ACTIVITIES

NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS

NET INCREASE IN CASH AND CASH EQUIVALENTS

CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD

2 unchanged sentences

Cash paid for interest

Reduction of EvinceMed purchase price for amounts previously paid

Shares issued in connection with acquisition

Cash paid for income taxes

3 unchanged sentences

OPTIMIZERx CORPORATION

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL

STATEMENTS (UNAUDITED)

MARCH 31, 2022

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

JUNE 30, 2022

NOTE 1 – NATURE OF BUSINESS AND BASIS OF

6 unchanged sentences

Connecting over 60 % of U.S.

healthcare providers and millions of their patients through an intelligent technology

platform embedded within a proprietary point-of-care network, OptimizeRx helps patients start and stay on their medications.

healthcare providers and millions of their patients through an intelligent technology platform

embedded within a proprietary point-of-care network, OptimizeRx helps patients start and stay on their medications.

The condensed consolidated financial statements

for the three months ended March 31, 2022 and 2021 have been prepared by us without audit pursuant to the rules and regulations of the

Securities and Exchange Commission.

In the opinion of management, all adjustments necessary to present fairly our financial position

at March 31, 2022, and our results of operations, changes in stockholders’ equity, and cash flows for the three months ended March

31, 2022 and 2021, have been made.

for the three and six months ended June 30, 2022 and 2021 have been prepared by us without audit pursuant to the rules and regulations

Securities and Exchange Commission (“SEC”).

In the opinion of management, all adjustments necessary to present fairly

our financial position at June 30, 2022, and our results of operations, changes in stockholders’ equity, and cash flows for

the six months ended June 30, 2022 and 2021, have been made.

Those adjustments consist of normal and recurring adjustments.

The condensed consolidated condensed

balance sheet as of December 31, 2021, has been derived from the audited consolidated condensed balance sheet as of that date.

The condensed

consolidated balance sheet as of December 31, 2021, has been derived from the audited condensed consolidated balance sheet as of

Certain information and note disclosures, including

1 unchanged sentence

prepared in accordance with generally accepted accounting principles have been condensed or omitted.

These consolidated condensed financial

These condensed consolidated financial

statements should be read in conjunction with a reading of the financial statements and notes thereto included in our Annual Report on

1 unchanged sentence

Securities and Exchange Commission on February 28,

The results of operations for the three months

ended March 31, 2022, are not necessarily indicative of the results to be expected for the full year.

The results of operations for the six months ended

June 30, 2022, are not necessarily indicative of the results to be expected for the full year.

NOTE 2 – NEW ACCOUNTING STANDARDS

16 unchanged sentences

ASC 606, Revenue from Contracts with Customers, as if it had originated the contracts.

The standard is effective for the Company’s fiscal

year beginning January 1, 2023, with early adoption permitted.

The Company is currently evaluating the effect of this pronouncement on

its Consolidated Financial Statements, but it is not expected to have a material impact.

The standard is effective for the Company’s

fiscal year beginning January 1, 2023, with early adoption permitted.

The Company is currently evaluating the effect of this pronouncement

on its Consolidated Financial Statements, but it is not expected to have a material impact.

NOTE 3 - ACQUISITIONS

On April 14, 2022, we completed the acquisition

of substantially all of the assets of EvinceMed Corp., a privately held leading provider of delivering end-to-end automation for specialty

pharmaceutical transactions.

We completed the acquisition to expand the breadth of the solutions we offer our customers, particularly

where specialty medications are involved, The acquisition includes the full Market Access Management Platform for supporting pharma manufacturers,

hub providers and pharmacies to improve patient access, speed to therapy and activation of affordability programs.

With the EvinceMed

platform, OptimizeRx is able to help patients get access to the drugs they need by simplifying the prescribing process for specialty medications,

automating manual steps to determine drug eligibility and affordability, and introducing electronic enrollment and medical documentation

within workflow across the OptimizeRx network of electronic health record (EHR) systems, ePrescribing platforms, and account-based marketing

technologies.

The consideration was comprised of $ 2.0

million in cash, the issuance of 240,741 shares of common stock valued at $ 9,374,455 , and $ 708,334 of amounts previously paid.

total purchase price was $ 12,082,788.54 .

Of the 240,741 shares of common stock, 185,185 were issued at closing and 55,556 were

issued but held back to secure potential adjustments to the purchase price that may result from the indemnification obligations of

EvinceMed and the EvinceMed shareholder indemnitors.

The holdback amount will be released twelve months from the closing, subject to

any adjustments for the payment by EvinceMed and the shareholder indemnitors for its and their indemnification obligations.

purchase price was allocated to acquired technology totaling $ 4,149,000 with an estimated useful life of 8 years and the remaining

$ 7,933,789 was allocated to goodwill.

Goodwill represents the processes and synergies expected by integrating those processes with

The full amount of goodwill will be deductible for tax purposes using a fifteen year life.

The increase in goodwill for the

period is fully accounted for by this acquisition.

We determined pro forma data was immaterial for financial reporting purposes.

initial accounting is provisional and subject to change based on the completion of formal valuations.

Acquisition costs of approximately $ 19,739 were

expensed as incurred.

OPTIMIZERx CORPORATION

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL

STATEMENTS (UNAUDITED)

MARCH 31, 2022

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

JUNE 30, 2022

NOTE 4 – REVENUES

3 unchanged sentences

policies in advance of being able to invoice the customer, or we may invoice the customer prior to being able to recognize the revenue.

Included in accounts receivable are unbilled amounts of $ 2,824,724 and $ 2,110,865 at March 31, 2022, and December 31, 2021, respectively.

Included in accounts receivable are unbilled amounts of $ 3,847,737 and $ 2,110,865 at June 30, 2022, and December 31, 2021, respectively.

Amounts billed in advance of revenue recognition are presented as deferred revenue on the condensed consolidated balance sheets.

The Company has several signed contracts with

customers for the distribution of messaging, or other services, which include payment in advance.

The payments are not recorded as revenue

until the revenue is earned under its revenue recognition policy.

Deferred revenue was $ 1,293,044 and $ 1,389,907 as of March 31, 2022

and December 31, 2021, respectively.

The contracts are all short term in nature and all revenue is expected to be recognized within 12

months, or less.

Following is a summary of activity for the deferred revenue account for the quarter ended March 31.

The Company has several signed contracts with customers for the distribution

of messaging, or other services, which include payment in advance.

The payments are not recorded as revenue until the revenue is earned

under our revenue recognition policy.

Deferred revenue was $ 1,041,919 and $ 1,389,907 as of June 30, 2022 and December 31, 2021,

respectively.

The contracts are all short term in nature and all revenue is expected to be recognized within 12 months, or less.

is a summary of activity for the deferred revenue account for the quarter ended June 30.

Balance January 1

1 unchanged sentence

( 6,013,181 )

( 3,361,479 )

Amount collected

Balance March 31

Revenue recognized

( 7,373,802 )

( 1,962,240 )

Amount collected

Balance June 30

The majority of our revenue is earned from life

4 unchanged sentences

Three Months Ended

Six Months Ended

Revenue from:

12 unchanged sentences

initial direct costs, and lease incentives received.

Lease-related liabilities are

Lease-related liabilities are recognized at the present value of the remaining contractual

fixed lease payments, discounted using our incremental borrowing rate.

Amortization of the right of use assets is recognized as non-cash

lease expense on a straight-line basis over the lease term, while variable lease payments are expensed as incurred.

Short term lease costs

include month to month leases and occasional rent for transient meeting and office spaces in shared office space facilities.

OPTIMIZERx CORPORATION

1 unchanged sentence

STATEMENTS (UNAUDITED)

MARCH 31, 2022

NOTE 4 – LEASES (continued)

recognized at the present value of the remaining

contractual fixed lease payments, discounted using our incremental borrowing rate.

Amortization of the right of use assets is recognized

as non-cash lease expense on a straight-line basis over the lease term, while variable lease payments are expensed as incurred.

term lease costs include month to month leases and occasional rent for transient meeting and office spaces in shared office space facilities.

For the three months ended March 31, 2022 and

2021, the Company’s lease cost consists of the following components, each of which is included in operating expenses within the

Company’s condensed consolidated statements of operations:

JUNE 30, 2022

For the three and six months ended

June 30, 2022, the Company’s lease cost consists of the following components, each of which is included in

operating expenses within the Company’s condensed consolidated statements of operations:

Operating lease cost

2 unchanged sentences

The table below presents the future minimum lease

payments to be made under operating leases as of March 31, 2022:

As of March 31, 2022

payments to be made under operating leases as of June 30, 2022:

As of June 30, 2022

Total lease liabilities

The weighted average remaining lease term at March

31, 2022 for operating leases is 3.4 years and the weighted average discount rate used in calculating the operating lease asset and liability

Cash paid for amounts included in the measurement of lease liabilities was $ 24,493 and $ 30,846 for the three months ending March

The weighted average remaining lease term at June 30, 2022 for

operating leases is 3.2 years and the weighted average discount rate used in calculating the operating lease asset and liability is 4.5 %.

Cash paid for amounts included in the measurement of lease liabilities was $ 45,599 and $ 62,069 for the six months ended June 30,

2022 and 2021, respectively.

For the three months ended March 31, 2022 and 2021, payments on lease obligations were $ 27,898 and $ 35,657 ,

For the six months ended June 30, 2022 and 2021, payments on lease obligations were $ 52,168 and $ 71,397 ,

respectively, and amortization on the right of use assets was $ 52,662 and $ 60,013 , respectively.

NOTE 6 – STOCKHOLDERS’ EQUITY

During the quarter ended March 31, 2022, we issued

a total of 28,006 shares of our common stock and received total proceeds of $ 258,128 in connection with the exercise of stock options

under our 2013 Incentive Plan.

We also issued 13,627 shares in connection with the vesting of restricted stock units under the same plan.

During the quarter ended March 31, 2021, we issued

a total of 510,803 shares of our common stock in connection with the exercise of stock options under our 2013 Incentive Plan.

of 368,329 shares were issued in a cashless transaction related to 394,739 expiring options using the net settled method whereby 26,410

options were used to pay the purchase price.

The remaining 116,064 shares issued in connection with the exercise of options were all issued

for cash for total proceeds of $ 1,120,011 .

During the quarters ended June 30, 2022 and March 31, 2022,

we issued 43,701 and 28,006 shares of our common stock, respectively, and received proceeds of $ 572,347 and $ 258,128 , respectively, in

connection with the exercise of stock options under our 2013 equity incentive plan.

During the quarters ended June 30, 2021 and

March 31, 2021, we issued 232,806 shares and 510,803 shares of our common stock, respectively, and received proceeds of $ 1,590,767

and $ 1,120,011 , respectively, in connection with the exercise of stock options under our 2013 equity incentive plan.

Of the shares issued

in the quarter ended March 31, 2021, a total of 368,329 shares were issued in a cashless transaction related to 394,739 expiring

options using the net settled method whereby 26,410 options were used to pay the purchase price.

The remaining 116,064 shares issued in

connection with the exercise of options were all issued for cash.

During the quarter ended June 30, 2022,

the Board authorized a share repurchase program, under which the Company may repurchase up to $ 20 million of its outstanding

common stock.

Through June 30, 2022, we repurchased 12,868 shares of our common stock for a total of $ 321,054 .

were recorded as Treasury Shares using the par value method.

During the quarter ended March 31, 2021,

in an underwritten primary offering, we issued 1,523,750 shares of our common stock for gross proceeds of $ 75,425,625 .

In connection with

this transaction, we incurred equity issuance costs of $ 4,754,089 related to payments to the underwriter, advisors and legal fees associated

with the transaction, resulting in net proceeds to the Company of $ 70,671,536 .

Our previous director’s compensation plan

called for issuance of shares of common stock each quarter to each independent director.

In 2021, we issued 2,695 shares valued at

$ 124,994 in the quarter ended March 31, 2021 and 2,035 shares valued at $ 125,091 in the quarter ended June 30, 2021.

current non-employee director's compensation program calls for the grant of restricted stock units with a one year vesting period.

Therefore, no shares were issued to our independent directors during the periods ending March 31 and June 30, 2022.

OPTIMIZERx CORPORATION

1 unchanged sentence

STATEMENTS (UNAUDITED)

MARCH 31, 2022

NOTE 5 – STOCKHOLDERS’ EQUITY (continued)

During the quarter ended March 31, 2021, in an

underwritten primary offering, we issued 1,523,750 shares of our common stock for gross proceeds of $ 75,425,625 .

In connection with this

transaction, we incurred equity issuance costs of $ 4,754,089 related to payments to the underwriter, advisors and legal fees associated

with the transaction, resulting in net proceeds to the Company of $ 70,671,536 .

During the quarter ended March 31, 2021, we issued

2,695 shares of our common stock to our independent directors in connection with our Director Compensation Plan.

These shares were valued

at $ 124,994 at the day of issuance.

JUNE 30, 2022

NOTE 7 – STOCK BASED COMPENSATION

We use the fair value method to account for stock-based

compensation, including both options and restricted stock units.

We recorded $ 905,743 and $ 391,318 in compensation expense in the three

months ended March 31, 2022 and 2021, respectively, related to options issued under our equity compensation plans.

This includes expense

related to options issued in prior years for which the requisite service period for those options includes the current period as well

as options issued in the current period.

We use the fair value method to account for stock-based compensation,

including both options and restricted stock units.

We recorded $ 2,242,553 and $ 954,434 in compensation expense in the six months ended

June 30, 2022 and 2021, respectively, related to options issued under our equity compensation plans.

This includes expense related

to options issued in prior years for which the requisite service period for those options includes the current period as well as options

issued in the current period.

During the three months ended June 30, 2022, we granted certain performance based options, the expense for

which will be recorded over time once the achievement of the performance is deemed probable.

There was no expense related to these options

recorded during the period.

The fair value of these instruments was calculated using the Black-Scholes option pricing model.

There is $ 10,390,172 of remaining expense related to unvested options to be recognized in the future over a weighted average period of

The total intrinsic value of outstanding options at March 31, 2022 was $ 8,474,053 .

We recorded $ 2,268,355 and $ 190,841 in compensation

expense related to restricted stock units in the three months ended March 31, 2022 and 2021, respectively.

These units vest both over

time and based on market conditions.

Of the $ 2,268,355 recorded in compensation expense, $ 1,503,359 is related to market-based equity

The expense related to the market-based grants was calculated using a Monte Carlo simulation.

There is $ 19,175,194 of remaining

expense related to unvested restricted stock units to be recognized in the future over a weighted average period of 2.3 years.

$ 12,883,915 of remaining expense related to unvested options to be recognized in the future over a weighted average period of 2.3 years.

The total intrinsic value of outstanding options at June 30, 2022 was $ 4,451,689 .

We recorded $ 4,956,868 and $ 399,672 in compensation expense related

to restricted stock units in the six months ended June 30, 2022 and 2021, respectively.

These units vest over time, based on market

conditions, or when certain performance requirements are met.

We issued 13,627 shares during the period ended March 31, 2022 for restricted

stock units vested.

Of the $ 4,956,868 recorded in compensation expense, $ 3,023,422 is related to market-based equity grants.

no expense recorded in relation to the performance based grants.

The expense related to the market-based grants was calculated using a

Monte Carlo simulation.

There is $ 20,877,781 of remaining expense related to unvested restricted stock units to be recognized in the future

over a weighted average period of 2.2 years.

NOTE 8 – EARNINGS (LOSS) PER SHARE

10 unchanged sentences

increase as the average stock price increases.

OPTIMIZERx CORPORATION

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL

STATEMENTS (UNAUDITED)

MARCH 31, 2022

NOTE 7 – EARNINGS (LOSS) PER SHARE (continued)

The following table sets forth the computation of basic and diluted

net loss per share.

The following table sets forth the computation

of basic and diluted net loss per share.

Three Months Ended

Six Months Ended

Net income (loss)

$ ( 3,884,714 )

$ ( 7,645,812 )

$ ( 285,277 )

Weighted average shares outstanding used in computing net loss per share

Effect of dilutive stock options, warrants, and stock grants

Net Loss per share

Effect of dilutive stock options, warrants, and unvested

restricted stock unit awards

Net income (loss) per share

No calculation of diluted earnings per share is

included for 2022 or 2021 as the effect of the calculation would be anti-dilutive.

The number of common shares potentially issuable upon

the exercise of certain options that were excluded from the diluted loss per common share calculation in 2022 was 221,251 related to options,

and 77,446 related to restricted stock units, for a total of 298,697 shares.

The number of common shares potentially issuable upon the

exercise of certain options that were excluded from the diluted loss per common share calculation in 2021 was 846,441 related to options,

and 137,304 related to restricted stock units, for a total of 983,745 shares.

included for 2022 or the six months ended June 30, 2021, as the effect of the calculation would be anti-dilutive.

OPTIMIZERx CORPORATION

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL

STATEMENTS (UNAUDITED)

JUNE 30, 2022

The number of common shares potentially issuable

upon the exercise of certain options or for unvested restricted stock unit awards are reflected in the table below.

Three Months Ended

Six Months Ended

Weighted average number of shares for the periods ended

Unvested restricted stock unit awards

NOTE 9 – CONTINGENCIES

The Company is not currently involved in any legal proceedings.

The Company is not currently involved in any material

legal proceedings.

NOTE 10 – INCOME TAXES

As discussed in our annual report on Form 10-K

for the year ended December 31, 2021, we had net operating loss carry-forwards for federal income tax purposes of $ 26.4 million as of

December 31, 2021.

for the year ended December 31, 2021, we had net operating loss carry-forwards for federal income tax purposes of $ 26.4 million as

of December 31, 2021.

Accordingly, no federal income tax expense or benefit is recorded in the current period.

NOTE 11 – SUBSEQUENT EVENTS

In April 2022, we completed the acquisition of

substantially all of the assets of EvinceMed Corp., a privately held leading provider of delivering end-to-end automation for specialty

pharmaceutical transactions.

This strategic acquisition allows us to help patients get access to the drugs they need by simplifying the

prescribing process for specialty products.

The consideration was comprised of $ 2 million in cash and the issuance of 240,741 shares

of common stock.

185,185 shares of common stock were issued at the closing of the acquisition and 55,556 shares of common stock were

issued but held back to secure potential adjustments to the purchase price that may result from the indemnification obligations of EvinceMed

and the EvinceMed shareholder indemnitors.

The shares were valued at $ 9,374,455 based on the closing price of $ 38.94 per share on

the date of acquisition.

The holdback amount will be released 12 months from the closing, subject to any adjustments for the payment

by EvinceMed and the shareholder indemnitors for its and their indemnification obligations.

It is impractical to disclose a preliminary purchase

price allocation of these assets at this time as we are currently in the process of completing that analysis.

In July 2022, we received proceeds of $ 219,630 and issued 68,751 shares

of common stock in conjunction with the exercise of stock options.

We have purchased 219,877 shares of our common stock for an average

price of $ 22.91 .

Total Number of Shares Purchased (1)

Average Price Paid per Share

Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs (1)

Maximum Number (or Approximate Dollar Value) of Shares that May Yet Be Purchased Under the Plans or Programs (1)

7/1/22 - 7/31/22

8/1/22 - 8/8/22

In accordance with ASC 855-10, we have analyzed events and transactions

that occurred subsequent to June 30, 2022 through the date these financial statements were issued and have determined that we do

not have any other material subsequent events to disclose or recognize in these financial statements.

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 1. Financial Statements