QUANTITATIVE AND QUALITATIVE DISCLOSURE ABOUT MARKET RISK
−Removed: The primary objectives of our investment activities are to ensure liquidity and to preserve principal, while at the same time maximizing the income we receive from our cash and
−Removed: marketable securities without significantly increasing risk.
−Removed: As of September 30, 2020, we had cash equivalents of $33.5 million that were held in a non-interest-bearing money operating account and an institutional U.S.
+Added: The primary objectives of our investment activities are to ensure liquidity and to preserve principal, while at the same time maximizing the income we receive from our cash and marketable
+Added: securities without significantly increasing risk.
+Added: As of March 31, 2021, we had cash equivalents of $25.0 million that were held in a non-interest-bearing money operating account and an institutional U.S.
Treasury money market fund.
−Removed: primary exposure to market risk is interest rate sensitivity, which is affected by changes in the general level of U.S.
+Added: exposure to market risk is interest rate sensitivity, which is affected by changes in the general level of U.S.
interest rates.
−Removed: Due to the short-term maturities of our cash equivalents and the low risk profile of our investments, we do not
−Removed: believe that an immediate 100 basis point change in interest rates would have a material effect on the fair market value of our cash equivalents.
−Removed: To minimize the risk in the future, we intend to maintain our portfolio of cash equivalents and
−Removed: short-term investments in institutional market funds that are comprised of U.S.
+Added: Due to the short-term maturities of our cash equivalents and the low risk profile of our investments, we do not believe
+Added: that an immediate 100 basis point change in interest rates would have a material effect on the fair market value of our cash equivalents.
+Added: To minimize the risk in the future, we intend to maintain our portfolio of cash equivalents and short-term
+Added: investments in institutional market funds that are comprised of U.S.
Treasury and Treasury backed repurchase agreements.
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.