−Removed: As of March 31, 2020, there have been no material changes to the risk factors previously disclosed in our Annual Report on Form 10-K, except as follows.
+Added: As of June 30, 2020 , there have been no material changes to the risk factors previously disclosed in our Annual Report on Form 10-K, except as follows.
Our business has been and is likely to continue to be negatively affected by the recent COVID-19 outbreak.
−Removed: The recent outbreak of COVID-19 in the United States, which was declared a pandemic by the World Health Organization on March 11, 2020, continues to adversely affect commercial activity and has contributed to significant decline in economic activity.
+Added: The outbreak of COVID-19 in the United States, which was declared a pandemic by the World Health Organization on March 11, 2020, continues to adversely affect commercial activity and has contributed to significant declines in economic activity.
Starting in mid-March 2020, COVID-19 began to significantly affect our results.
The deterioration accelerated toward the end of March and has adversely affected and is likely to have a further negative effect on our near-term financial results due to reduced consumer spending upon which our revenues depend.
−Removed: In particular, we may experience financial losses due to a number of operational factors, including:
+Added: In particular, the COVID-19 pandemic has affected a number of operational factors, including:
Merchant temporary closures and failures;
5 unchanged sentences
It is also likely that the current outbreak or continued spread of COVID-19 will cause an economic slowdown, and it is possible that it could cause a recession.
−Removed: Accordingly, the ultimate effects on our operations, financial condition and cash flows cannot be determined at this time.
−Removed: Nevertheless, despite the uncertainty of the COVID-19 situation, we expect that the COVID-19 pandemic will have an adverse effect on our revenues and financial results for the remainder of 2020.
+Added: Accordingly, while we expect that the COVID-19 pandemic will have an adverse effect on our revenues and financial results for the remainder of 2020, the ultimate effects on our operations, financial condition and cash flows cannot be determined at this time.
Furthermore, the COVID-19 pandemic and the resulting adverse and unpredictable economic conditions are likely to implicate or exacerbate other risks identified in our Annual Report on Form 10-K for the year ended December 31, 2019, which in turn could materially adversely affect our business, financial condition, results of operations and liquidity.
3 unchanged sentences
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.