What changed in this filing

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Item 7A. Quantitative and Qualitative Disclosures About Market Risk

2026-03-25 compared with 2025-03-27 · 28 added, 33 removed, 38 unchanged (62% of the section changed)

1 unchanged sentence

Risk Framework

risk represents the risk of losses, or financial volatility, that may result from the change in value of our products due to fluctuations

in its market price.

The scope of our market risk management policies and procedures includes all market-sensitive data related to input

and selling prices.

We expect to be able to limit this risk by using third parties to finance acquisition of feedstock and logistics,

We may enter into long-term arrangements for supply to limit impacts of market risk.

risk represents the risk of losses, or financial volatility in our operations, that may result from the fluctuations of various factors.

The scope of our market risk, management policies and procedures is expected to include market-sensitive data related to interest rate,

liquidity, input and selling prices.

Company’s different types of market risk include:

19 unchanged sentences

success of our plan requires us to be able to operationally deliver on the project plan and timelines as projected by management.

order to mitigate and control operational risk, we will develop policies and procedures that are designed to identify and manage operational

risk at appropriate levels throughout the organization.

We will also have business continuity plans in place that we believe will cover

critical processes on a company-wide basis, and redundancies are built into our systems as we deem appropriate.

These control mechanisms

will be designed to ensure that operational policies and procedures are being followed and that our various businesses are operating

within established corporate policies and limits.

We are leveraging and intend to continue implementing established best practices for

our industry to reduce operational risk.

order to mitigate and control operational risk, we expect to develop policies and procedures that are designed to help identify and

manage operational risk at appropriate levels throughout the organization.

We also expect to have business continuity plans in place

that we believe should cover critical processes on a company-wide basis, and redundancies are built into our systems as we deem

These control mechanisms will be designed to help confirm that operational policies and procedures are being followed and

that our various businesses are operating within established corporate policies and limits.

We are leveraging and intend to continue

implementing established best practices for our industry to reduce operational risk.

success of our business is dependent upon the skills, expertise, industry knowledge and performance of our employees.

9 unchanged sentences

and regulatory risk

and regulatory risk includes the risk of non-compliance with applicable legal and regulatory requirements and loss to our reputation

we may suffer as a result of failure to comply with laws, regulations, rules, related self-regulatory organization standards and codes

of conduct applicable to our business activities.

We are generally subject to extensive regulation in the various jurisdictions in which

we conduct our business.

We are in the process of setting up procedures that are designed to ensure compliance with applicable statutory

and regulatory requirements, such as public company reporting obligations, regulatory net capital requirements, sales practices, potential

conflicts of interest, anti-money laundering, privacy and recordkeeping.

We will also establish procedures that are designed to require

that our policies relating to ethics and business conduct are followed.

and regulatory risk includes the risk of non-compliance with applicable legal and regulatory requirements and the loss to our

reputation that we may suffer as a result of a failure to comply with laws, regulations, rules, related self-regulatory organization

standards and codes of conduct applicable to our business activities.

We are generally subject to extensive regulation in the

various jurisdictions in which we conduct our business.

We are in the process of setting up procedures that are designed to help promote

compliance with applicable statutory and regulatory requirements, such as public company reporting obligations, regulatory net

capital requirements, sales practices, potential conflicts of interest, anti-money laundering, privacy and recordkeeping.

We also expect to establish procedures that are designed to require that our policies relating to ethics and business conduct are

Risk Exposure

2 unchanged sentences

Company has only one financial banking institution.

do not believe that inflation has had a material effect on our business, financial condition, or results of operations, other than its

impact on the general economy.

However, we are currently operating in a more volatile inflationary environment due to macroeconomic conditions

and have limited data and experience doing so in our history, particularly as we continue to invest in growth in our business.

The principal

inflationary factor affecting our business is higher costs.

Our inability or failure to address challenges relating to inflation could

harm our business, financial condition, and results of operations.

do not believe that inflation has had a material effect on our business, financial condition, or results of operations for the year ended December 31, 2025, other than

its impact on the general economy.

However, we are currently operating in a more volatile inflationary environment due to

macroeconomic conditions and have limited data and experience doing so in our history, particularly as we continue to invest in

growth in our business.

The principal inflationary factor affecting our business is higher costs.

Our inability or failure to

address challenges relating to inflation could harm our business, financial condition, and results of operations.

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-K

Item 7A. Quantitative and Qualitative Disclosures About Market Risk