1 unchanged sentence
Interest Rate Risk
−Removed: We had cash and cash equivalents totaling $79.9 million as of December 31, 2022, the majority of which was invested in money market accounts.
−Removed: We also had marketable securities of $105.9 million which were invested in investment-grade corporate bonds, commercial paper, asset-backed securities, U.S.
−Removed: Treasury securities, and agency securities.
+Added: We had cash and cash equivalents totaling $49.8 million as of December 31, 2023, the majority of which was invested in money market accounts and money market funds.
+Added: We also had marketable securities of $48.3 million which were invested in investment-grade corporate bonds, commercial paper, U.S.
+Added: Treasury securities, agency securities and asset-backed securities.
Such interest-earning instruments carry a degree of interest rate risk with respect to the interest income generated.
5 unchanged sentences
We do not enter into investments for trading or speculative purposes.
−Removed: We did not have any outstanding debt during any of the periods presented under our $40.0 million revolving credit line which expired on January 31, 2022.
+Added: As of December 31, 2023, we had $55 million in secured indebtedness outstanding under the Credit Agreement.
+Added: The revolving line of credit bears interest at a rate of either (i) SOFR (subject to a 1.0% floor), plus 0.10%, plus a margin ranging from 2.75% to 3.25% based on the Company’s liquidity or (ii) ABR (subject to a 2.0% floor) plus a margin ranging from 1.75% to 2.25% based on the Company’s liquidity.
+Added: Refer to Note 8 of the Notes to the Financial Statements (Part I, Item 8 of this Annual Report).
We have not been exposed to, nor do we anticipate being exposed to, material risks due to changes in interest rates.
9 unchanged sentences
We do not believe that an immediate 10% increase or decrease in the relative value of the U.S.
−Removed: dollar to the Canadian dollars would have a material effect on operating results.
+Added: dollar to the Canadian dollar would have a material effect on operating results.
We have not engaged in the hedging of foreign currency transactions to date.
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.