−Removed: ITEM 7A – QUANTITATIVE AND QUALITATIVE
−Removed: DISCLOSURES ABOUT MARKET RISK
−Removed: As of August 31, 2021, and August 31, 2020, we
−Removed: had cash and cash equivalents of $37.0 million and $49.2 million, respectively.
−Removed: We hold held-to-maturity short-term investments that are
−Removed: exposed to market risk related to changes in interest rates, which could affect the value of our assets and liabilities.
−Removed: We do not hold
−Removed: any trading and or available-for-sale securities.
+Added: ITEM 7A – QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
+Added: As of August 31, 2022, and August 31, 2021, we had cash and cash equivalents of $51.6 million and $37.0 million, respectively.
+Added: We hold held-to-maturity short-term investments that are exposed to market risk related to changes in interest rates, which could affect the value of our assets and liabilities.
+Added: We do not hold any trading and/or available-for-sale securities.
Some of our cash and cash equivalents are held in money market accounts;
−Removed: however, they
−Removed: are not exposed to market-rate risk.
−Removed: In the years ended August 31, 2021, 2020, and
−Removed: 2019 we sold $4.8 million, $5.0 million and $4.1 million, respectively, of software licenses through representatives in certain Asian
−Removed: markets in local currencies.
−Removed: As a result, our financial position, results of operations, and cash flows can be affected by fluctuations
−Removed: in foreign currency exchange rates, particularly fluctuations in the yen and RMB exchange rates.
−Removed: These transactions give rise to receivables
−Removed: that are denominated in currencies other than the entity’s functional currency.
−Removed: The value of these receivables is subject to changes
−Removed: because the receivables may become worth more or less due to changes in currency exchange rates.
−Removed: The majority of our software license
−Removed: agreements are denominated in U.S.
−Removed: We record foreign gains and losses as they are realized.
−Removed: We mitigate our risk from foreign
−Removed: currency fluctuations by adjusting prices in our foreign markets on a periodic basis.
−Removed: We base these changes on market conditions while
−Removed: working closely with our representatives.
+Added: however, they are not exposed to market-rate risk.
+Added: In the years ended August 31, 2022, 2021, and 2020, we sold $6.7 million, $4.8 million, and $5.0 million, respectively, of software licenses through representatives in certain Asian markets in local currencies.
+Added: As a result, our financial position, results of operations, and cash flows can be affected by fluctuations in foreign currency exchange rates, particularly fluctuations in the Yen and RMB exchange rates.
+Added: These transactions give rise to receivables that are denominated in currencies other than the entity’s functional currency.
+Added: The value of these receivables is subject to changes because the receivables may become worth more or less due to changes in currency exchange rates.
+Added: The majority of our software license agreements are denominated in U.S.
+Added: We mitigate our risk from foreign currency fluctuations by adjusting prices in our foreign markets on a periodic basis.
+Added: We base these changes on market conditions while working closely with our representatives.
Our Paris, France, division sells mainly in U.S.
−Removed: dollars and Euros and uses the Euro as a functional
+Added: dollars and Euros and uses the Euro as a functional currency.
As such, we are subject to currency translation and exchange rate changes.
−Removed: We do not hedge currencies or enter into derivative
−Removed: ITEM 8 – FINANCIAL STATEMENTS AND SUPPLEMENTARY
−Removed: See the financial statements included elsewhere
−Removed: in this Annual Report beginning at page F-1, which are incorporated herein by reference.
−Removed: ITEM 9 – CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON
−Removed: ACCOUNTING AND FINANCIAL DISCLOSURE
+Added: We do not hedge currencies or enter into derivative contracts.
+Added: ITEM 8 – FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
+Added: See the financial statements included elsewhere in this Report beginning at page F-1, which are incorporated herein by reference.
+Added: ITEM 9 – CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE
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.