9 unchanged sentences
Management’s Discussion and Analysis of Financial Condition and Results of Operations – Liquidity and Capital Resources.” At December 31, 2023, the Company had a net working capital deficit of approximately $1,279,000.
−Removed: This deficit included accrued expenses of approximately $25,000, accounts payable of approximately $2,000 and approximately $1,067,000 in principal and accrued interest owed under the Promissory Note entered into with Delfin in March 2018 (the "Promissory Note") which has been subsequently amended and restated.
+Added: This deficit included accrued expenses of approximately $26,000, accounts payable of approximately $4,000 and approximately $1,258,000 in principal and accrued interest owed under the Promissory Note entered into with Delfin in March 2018 (the “Promissory Note”) which has been subsequently amended and restated.
On a short term liquidity basis, we must receive capital contributions or loans from Delfin or its affiliates in order to continue as a going concern.
5 unchanged sentences
We intend to continue to use the proceeds from the amended and restated Promissory Note and seek other loans from Delfin and related entities, if necessary, to fund our public company operating costs while we explore our options related to the future of theglobe.
−Removed: As of December 31, 2022, we borrowed a total of $861,000 under the amended and restated Promissory Note from Delfin which was amended and restated on December 23, 2022 to increase our borrowing to $906,000.
−Removed: The additional principal amounts were received on January 4, 2023.
+Added: As of December 31, 2023, we borrowed a total of $977,000 under the amended and restated Promissory Note from Delfin, which was amended and restated again in December 2023 to increase our borrowing to $1,027,000, of which cash was not received and recorded until January 2024.
Our management may have other interests that may conflict with the interests of our stockholders.
58 unchanged sentences
With limited exceptions related to restrictive securities acquired before we became a “shell company,” holders of our restricted securities are limited in their ability to resell their securities pursuant to Rule 144.
−Removed: Preclusion from the use of the resale
−Removed: exemption from registration afforded by Rule 144 may make it more difficult for us to sell equity securities in the future, and for stockholders to resell their restricted securities.
+Added: Preclusion from the use of the resale exemption from registration afforded by Rule 144 may make it more difficult for us to sell equity securities in the future, and for stockholders to resell their restricted securities.
Our need for capital may create additional risks and create dilution to existing stockholders.
6 unchanged sentences
UNRESOLVED STAFF COMMENTS
+Added: CYBERSECURITY
+Added: As a shell company with no current business or operations, we do not have an established processes to oversee and identify material risks from cybersecurity threats nor any board committee or subcommittee responsible for the oversight of risks from cybersecurity threats.
The Company does not own or lease any property.
4 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.