−Removed: QUANTITATIVE AND QUALITATIVE DISCLOSURES
−Removed: ABOUT MARKET RISK
−Removed: Interest Rate Risk
−Removed: Our operating results are
−Removed: subject to risk from interest rate fluctuations on the outstanding borrowings.
−Removed: Interest rate risk is highly sensitive due to many factors,
−Removed: including U.S.
+Added: QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
+Added: operating results are subject to risk from interest rate fluctuations on the outstanding borrowings.
+Added: Interest rate risk is highly sensitive
+Added: due to many factors, including U.S.
monetary and tax policies, U.S.
and international economic factors and other factors beyond our control.
−Removed: The proceeds we
−Removed: received from the Related Party Loan entered into in January 2024 and amended by the 2025 Amendment and the Second 2025 Amendment, bears
−Removed: interest at a variable rate which exposes us to market risks relating to changes in interest rates.
−Removed: As of June 30, 2025, we had $117.1
−Removed: million of variable rate debt associated with the Related Party Loan.
−Removed: Based on this debt level, an increase of 100 basis points in the
−Removed: effective interest rate on the outstanding debt amount would result in an increase in interest expense of approximately $1.2 million over
−Removed: the next 12 months.
−Removed: We do not use derivative financial
−Removed: instruments for speculative or trading purposes, but this does not preclude our adoption of specific hedging strategies in the future.
+Added: The proceeds we received from the Related Party Loan entered into in January 2024 and amended by the 2025 Amendment and the Second 2025
+Added: Amendment, bears interest at a variable rate which exposes us to market risks relating to changes in interest rates.
+Added: As of September
+Added: 30, 2025, we had $122.2 million of variable rate debt associated with the Related Party Loan.
+Added: Based on this debt level, an increase of
+Added: 100 basis points in the effective interest rate on the outstanding debt amount would result in an increase in interest expense of approximately
+Added: $1.2 million over the next 12 months.
+Added: do not use derivative financial instruments for speculative or trading purposes, but this does not preclude our adoption of specific
+Added: hedging strategies in the future.
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.