4 unchanged sentences
Interest Rate Risk
−Removed: As of March 31, 2021, we had an outstanding balance under the 2020 Vehicle Floorplan Facility of $253.0 million.
+Added: As of June 30, 2021, we had an outstanding balance under the 2020 Vehicle Floorplan Facility of $363.6 million.
The 2020 Vehicle Floorplan Facility bears interest at a rate equal to the 1-Month LIBOR rate applicable in the immediately preceding month, plus a spread of 425 basis points.
−Removed: A hypothetical 10% change in interest rates during the periods presented would result in a change to interest expense of $0.4 million for the three months ended March 31, 2021.
+Added: A hypothetical 10% change in interest rates during the periods presented would result in a change to interest expense of $0.3 million and $0.7 million for the three and six months ended June 30, 2021, respectively.
+Added: As of June 30, 2021, we had an outstanding principal balance on our Notes of $625.0 million.
+Added: As the interest rate on the Notes is fixed, we do not have exposure to interest rate risk.
Cont rols and Procedures
4 unchanged sentences
Our management, with the participation of our principal executive officer and principal financial officer, evaluated, as of the end of the period covered by this Quarterly Report on Form 10-Q, the effectiveness of our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act).
−Removed: Based on that evaluation, and as a result of the material weaknesses described below, our principal executive officer and principal financial officer concluded that, as of March 31, 2021, our disclosure controls and procedures were not effective.
+Added: Based on that evaluation, and as a result of the material weaknesses described below, our principal executive officer and principal financial officer concluded that, as of June 30, 2021, our disclosure controls and procedures were not effective.
In light of this fact, our management has performed additional analyses, reconciliations, and other post-closing procedures and has concluded that, notwithstanding the material weaknesses in our internal control over financial reporting, the condensed consolidated financial statements for the periods covered by and included in this Quarterly Report on Form 10-Q fairly state, in all material respects, our financial position, results of operations and cash flows for the periods presented in conformity with U.S.
17 unchanged sentences
In particular, we (i) hired additional finance and accounting personnel with expertise in preparation of financial statements and account reconciliations;
−Removed: (ii) further developed and documen ted our accounting policies;
+Added: (ii) further developed and documented our accounting policies;
and (iii) hired a director responsible for implementation of information technology general controls.
−Removed: Further, we have continue d to take additional steps to remediate these material weaknesses, including:
−Removed: hired additional qualified accounting, financial reporting and information technology personnel with public company experience;
+Added: Further, we have continued to take additional steps to remediate these material weaknesses, including:
+Added: hired additional qualified accounting, financial reporting and information technology personnel with public company experience, including a Chief Information Security Officer;
provided additional training for our personnel on internal control over financial reporting;
6 unchanged sentences
Accordingly, we will not be able to fully remediate these material weaknesses until these steps have been completed.
−Removed: Except as otherwise described herein, there was no change in our internal control over financial reporting (as defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act) during the three months ended March 31, 2021 that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.
−Removed: PART II - OTHE R INFORMATION
+Added: Except as otherwise described herein, there was no change in our internal control over financial reporting (as defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act) during the three months ended June 30, 2021 that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.
+Added: PART II - OTHER INFORMATION
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.