−Removed: QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
−Removed: are exposed to certain market risks from transactions we enter into the normal course of business.
−Removed: Our primary market risk exposure relates
−Removed: to interest rate risk, which currently is tied to the Prime Interest rate.
−Removed: Factoring Facility is priced at a variable interest rate of prime plus 2% with a 15-basis point advance rate with a floor of 4%.
−Removed: future interest rate increases could potentially put us at risk for an adverse impact on future earnings and cash flows.
−Removed: Amex BIP interest rate is paid upon invoice submission at a fixed percentage based on the submission total.
−Removed: Invoice(s) under $10 cost
−Removed: 2.05%, those between $10 and $200 cost 1.55% of the invoice total, and a submission of invoice or invoices greater than $200 is subject
−Removed: to a 1.05% cost.
−Removed: Since MMG submissions average between 10 and 200, our average fee is 1.55% for invoices payable in 90 days, averaging
−Removed: This translates into an approximate APR of 6.2% which is 5.3% better than our factoring rate given the current prime interest rate
−Removed: as of March 17, 2024 of 8.5%.
−Removed: At a DSO of 52, our Factoring APR is approximately 11.5%.
+Added: QUANTITATIVE AND QUALITATIVE DISCLOSURES
+Added: ABOUT MARKET RISK
+Added: We are exposed to certain market risks from transactions
+Added: we enter into the normal course of business.
+Added: Our primary market risk exposure relates to interest rate risk, which currently is tied to
+Added: the Prime Interest rate.
+Added: INTEREST RATES
+Added: Our Factoring Facility is priced at a variable interest
+Added: rate of prime plus 2% with a 15-basis point advance rate with a floor of 4%.
+Added: Accordingly, future interest rate increases could potentially
+Added: put us at risk for an adverse impact on future earnings and cash flows.
+Added: Our Amex BIP interest rate is paid upon invoice submission
+Added: at a fixed percentage based on the submission total.
+Added: Invoice(s) under $10 cost 2.05%, those between $10 and $200 cost 1.55 % of the invoice
+Added: total, and a submission of invoice or invoices greater than $200 is subject to a 1.05% cost.
+Added: Since MMG submissions for most of 2024 averaged
+Added: between $10 and $100, our average fee was 1.74% for invoices payable in 90 days, averaging $34 per submission.
+Added: This translates into an
+Added: approximate APR of 7.0% which is 4.3% better than our factoring rate given the 2024 average prime interest rate of 7.9% in 2024.
+Added: days our Factoring APR average in 2024 was approximately 11.3%.
+Added: Given the current prime interest rate is 7.50% at a DSO of 52, our current
+Added: average APR as of March 7, 2025 is 10.55%.
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.