What changed in this filing

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Item 7A. Quantitative and Qualitative Disclosures About Market Risk

2022-03-31 compared with 2021-03-25 · 31 added, 29 removed, 6 unchanged (91% of the section changed)

1 unchanged sentence

Certain of our products or components are manufactured outside the United States.

Most products imported into

the United States is subject to duty and restrictive quotas on the amount of products that can be imported from certain countries

into the United States each year.

Most products imported into the United

States is subject to duty and restrictive quotas on the amount of products that can be imported from certain countries into the United

States each year.

Because of the duty rates and quotas, changes in U.S.

trade policy as reflected in various legislation,

trade preference programs and trade agreements have the potential to materially impact our sourcing strategy and the competitiveness

of its contract manufacturers.

trade policy as reflected in various legislation, trade preference

programs and trade agreements have the potential to materially impact our sourcing strategy and the competitiveness of its contract manufacturers.

We manage this risk by continually monitoring U.S.

trade policy, analyzing the impact of changes

in such policy and adjusting its manufacturing and sourcing strategy accordingly.

trade policy, analyzing the impact of changes in such policy and adjusting its manufacturing

and sourcing strategy accordingly.

Currency Risk.

We receive United States dollars for all of our product sales.

Currently, all inventory purchases from our

non-US contract manufacturers are also denominated in United States dollars;

however, should we make purchases in foreign currencies

in the future, purchase prices for our products may be impacted by fluctuations in the exchange rate between the United States

dollar, which may have the effect of increasing our cost of goods in the future.

We are subject to commodity price risk arising from price fluctuations in the market prices of sourced titanium

and steel products or the various raw materials components of its manufactured products.

We are subject to commodity price risk

to the extent that any fluctuations in the market prices of its purchased titanium and steel products and raw materials are not

reflected by adjustments in selling prices of its products or if such adjustments significantly trail changes in these costs.

We neither enter into significant long-term sales contracts nor enter into significant long-term purchase contracts.

engage in hedging activities with respect to such risk .

Credit risk relates to the risk of loss resulting from non-performance or non-payment by counterparties pursuant to

the terms of their contractual obligations.

Risks surrounding counterparty performance and credit could ultimately impact the

amount and timing of expected cash flows.

Certain financial instruments potentially subject our company to a concentration of

These financial instruments consist primarily of cash and cash equivalents and accounts and vendor receivables.

place our cash and cash equivalents with high-credit, quality financial institutions.

The balances in these accounts exceed the

amounts insured by the Federal Deposit Insurance Corporation.

Currently, all inventory purchases from our non-U.S.

contract manufacturers are also denominated in United States dollars;

however, should we make purchases in foreign currencies in the

future, purchase prices for our products may be impacted by fluctuations in the exchange rate between the United States dollar, which

may have the effect of increasing our cost of goods in the future.

We are subject to commodity price risk arising from price fluctuations in the market prices of sourced titanium and steel

products or the various raw materials components of its manufactured products.

We are subject to commodity price risk to the extent that

any fluctuations in the market prices of its purchased titanium and steel products and raw materials are not reflected by adjustments

in selling prices of its products or if such adjustments significantly trail changes in these costs.

We neither enter into significant

long-term sales contracts nor enter into significant long-term purchase contracts.

We do not engage in hedging activities with respect

to such risk .

Credit risk relates to the risk of loss resulting from non-performance or non-payment by counterparties pursuant to the terms

of their contractual obligations.

Risks surrounding counterparty performance and credit could ultimately impact the amount and timing

of expected cash flows.

Certain financial instruments potentially subject our company to a concentration of credit risk.

These financial

instruments consist primarily of cash and cash equivalents and accounts and vendor receivables.

We place our cash and cash equivalents

with high-credit, quality financial institutions.

The balances in these accounts exceed the amounts insured by the Federal Deposit Insurance

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