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Core Scientific (CORZ)

Power & Digital Infrastructure Acquisition Corp. is a blank check company sponsored by XPDI Sponsor LLC, led by Energy & Power Transition Partners, LLC and XMS XPDI Sponsor Holdings LLC, an entity owned by professionals XMS Capital Partners, LLC, and formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses or entities.

CORZ stock data

Analyst ratings and price targets

Last 3 months

Calendar

13 May 22
16 May 22
31 Dec 22
Quarter (USD) Mar 22 Dec 21 Sep 21 Jun 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 110.43M 110.43M 110.43M 110.43M 110.43M 110.43M
Cash burn (monthly) 7.08M (no burn) 141.27M 35.72M 1.21M 1.29M
Cash used (since last report) 10.85M n/a 216.36M 54.7M 1.85M 1.98M
Cash remaining 99.59M n/a -105.93M 55.73M 108.59M 108.45M
Runway (months of cash) 14.1 n/a -0.7 1.6 90.1 83.8

Beta Read what these cash burn values mean

5.9% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 84 2 +4100.0%
Opened positions 83 1 +8200.0%
Closed positions 1 59 -98.3%
Increased positions 0 1 EXIT
Reduced positions 1 0 NEW
13F shares Current Prev Q Change
Total value 182.22M 21.9M +732.0%
Total shares 18.62M 2.2M +745.1%
Total puts 1.28M 0 NEW
Total calls 1.78M 0 NEW
Total put/call ratio 0.7
Largest owners Shares Value Change
BLK Blackrock 3.42M $37.4M NEW
Rubric Capital Management 2.21M $24.17M NEW
Toroso Investments 1.28M $14.01M NEW
Capital Advisors, LLC- CA Arena 1.22M $11.03M NEW
Aristeia Capital 1.21M $5.74M NEW
Beryl Capital Management 928.48K $10.17M -57.4%
Emerald Mutual Fund Advisers Trust 694.92K $7.61M NEW
Susquehanna International 679.14K $7.44M NEW
NMR Nomura 663.14K $7.27M NEW
NINE MASTS CAPITAL 562K $6.15M NEW
Largest transactions Shares Bought/sold Change
BLK Blackrock 3.42M +3.42M NEW
Rubric Capital Management 2.21M +2.21M NEW
Toroso Investments 1.28M +1.28M NEW
Beryl Capital Management 928.48K -1.25M -57.4%
Capital Advisors, LLC- CA Arena 1.22M +1.22M NEW
Aristeia Capital 1.21M +1.21M NEW
Emerald Mutual Fund Advisers Trust 694.92K +694.92K NEW
Susquehanna International 679.14K +679.14K NEW
NMR Nomura 663.14K +663.14K NEW
NINE MASTS CAPITAL 562K +562K NEW

Financial report summary

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Competition
Bit DigitalArgo Blockchain
Risks
  • Our business is highly dependent on a small number of digital asset mining equipment suppliers.
  • Our business is capital intensive, and failure to obtain the necessary capital when needed may force us to delay, limit or terminate our expansion efforts or other operations, which could have a material adverse effect on our business, financial condition and results of operations.
  • We may not be able to obtain new hosting and transaction processing hardware or purchase such hardware at competitive prices during times of high demand, which could have a material adverse effect on our business, financial condition and results of operations.
  • If future prices of bitcoin are not sufficiently high, our business, results of operations and financial condition could be materially and adversely affected, which may have a negative impact on the trading price of our securities.
  • Our success depends in large part on our ability to mine digital assets profitably and to attract customers for our hosting capabilities. Increases in power costs or our inability to mine digital assets efficiently and to sell digital assets at favorable prices will reduce our operating margins, impact our ability to attract customers for our services and harm our growth prospects and could have a material adverse effect on our business, financial condition and results of operations.
  • A slowdown in the demand for blockchain technology or blockchain hosting resources and other market and economic conditions could have a material adverse effect on our business, financial condition and results of operations.
  • Our business is heavily impacted by social, political, economic and other events and circumstances in countries outside of the United States, most particularly China and other non-Western countries. China’s shifting position on mining activity within its borders could reduce our revenue and profitability.
  • Continuing coronavirus outbreaks may have a material adverse impact on our business, liquidity, financial condition and results of operations.
  • Changes in tariffs or import restrictions could have a material adverse effect on our business, financial condition and results of operations.
  • Our historical financial results may not be indicative of our future performance.
  • We may be required to record goodwill or other long-lived asset impairment charges, which could result in a significant charge to earnings.
  • Our revenue comes from a small number of customers, and the loss of, or significant decrease in business from, a number of these customers or our failure to continually attract new customers could have a material adverse effect on our business, financial condition and results of operations.
  • Delays in the expansion of existing hosting facilities or the construction of new hosting facilities or significant cost overruns could present significant risks to our business and could have a material adverse effect on our business, financial condition and results of operations.
  • Governments and government regulators may potentially restrict the ability of electricity suppliers to provide electricity to hosting and transaction processing operations such as ours, which could have a material adverse effect on our business, financial condition and results of operations.
  • Power outages in our hosting facilities could have a material adverse effect on our business, financial condition and results of operations.
  • If we do not accurately predict our hosting facility requirements, it could have a material adverse effect on our business, financial condition and results of operations.
  • We plan to continue to acquire other businesses or receive offers to be acquired, which could require significant management attention, disrupt our business or dilute stockholder value.
  • If we do not successfully integrate Blockcap, Blockcap’s subsidiary, RADAR, or future acquisitions or strategic partnerships that we may enter into, we may not realize the anticipated benefits of any such acquisitions or partnerships, which could have a material adverse effect on our business, financial condition and results of operations.
  • If there are significant changes to the method of validating blockchain transactions, such changes could reduce demand for our blockchain hosting services.
  • If we fail to accurately estimate the factors upon which we base our contract pricing, we may generate less profit than expected or incur losses on those contracts, which could have a material adverse effect on our business, financial condition and results of operations.
  • Any failure in the critical systems of our hosting facilities or services we provide could lead to disruptions in our and our customers’ businesses and could harm our reputation and result in financial penalty and legal liabilities, which would reduce our revenue and have a material adverse effect on our business, financial condition and results of operations.
  • We generate significant revenue from a limited number of hosting facilities in Kentucky, Georgia and North Carolina and a significant disruption to operations in this region could have a material adverse effect our business, financial condition and results of operations.
  • Our success is dependent on the ability of our management team and our ability to attract, develop, motivate and retain other well-qualified employees, including the integration of the Blockcap management team, which may be more difficult, costly or time-consuming than expected.
  • Competition for employees is intense, and we may not be able to attract and retain the qualified and skilled employees needed to support our business, which in turn could have a material adverse effect on our business, financial condition and results of operation.
  • We may be vulnerable to security breaches, which could disrupt our operations and have a material adverse effect on our business, financial condition and results of operations.
  • We are subject to litigation risks.
  • We may be exposed to cybersecurity threats and hacks, which could have a material adverse effect on our business, financial condition and results of operations.
  • Our future success depends on our ability to keep pace with rapid technological changes that could make our current or future technologies less competitive or obsolete.
  • Facebook’s development of a digital asset may adversely affect the value of Bitcoin and other digital assets.
  • Our compliance and risk management methods might not be effective and may result in outcomes that could adversely affect our reputation, operating results, and financial condition.
  • We may infringe on third-party intellectual property rights or other proprietary rights, which could have a material adverse effect on our business, financial condition and results of operations.
  • The further development and acceptance of cryptographic and algorithmic protocols governing transaction validation and the issuance of, and transactions in, digital assets are subject to a variety of factors that are difficult to evaluate. The slowing or stoppage of development or acceptance of blockchain networks and digital assets would have an adverse material effect on the successful development of the mining operation and value of mined digital assets.
  • Our ability to use net operating losses to offset future taxable income may be subject to certain limitations.
  • We may not be able to adequately protect our intellectual property rights and other proprietary rights, which could have a material adverse effect on business, financial condition and results of operations.
  • We operate in a rapidly developing industry and have an evolving business model with a limited history of generating revenue from our services. In addition, our evolving business model increases the complexity of our business, which makes it difficult to evaluate our future business prospects and could have a material adverse effect on our business, financial condition and results of operations.
  • We may not be able to compete effectively against our current and future competitors, which could have a material adverse effect on our business, financial condition and results of operations.
  • Our projections are subject to significant risks, assumptions, estimates and uncertainties, including assumptions regarding the demand for our hosting services and the adoption of bitcoin and other digital assets. As a result, our projected revenues, market share, expenses and profitability may differ materially from our expectations in any given quarter or fiscal year.
  • We have experienced difficulties in establishing relationships with banks, leasing companies, insurance companies and other financial institutions that are willing to provide us with customary financial products and services, which could have a material adverse effect on our business, financial condition and results of operations.
  • If we were deemed an “investment company” under the Investment Company Act of 1940, as amended (the “1940 Act”), applicable restrictions could make it impractical for us to continue our business as contemplated and could have a material adverse effect on our business.
  • Any change in the interpretive positions of the SEC or its staff with respect to digital asset mining firms could have a material adverse effect on us.
  • If regulatory changes or interpretations of our activities require our registration as a money services business (“MSB”) under the regulations promulgated by the Financial Crimes Enforcement Network (“FinCEN”) under the authority of the U.S. Bank Secrecy Act, or otherwise under state laws, we may incur significant compliance costs, which could be substantial or cost-prohibitive. If we become subject to these regulations, our costs in complying with them may have a material negative effect on our business and the results of our operations.
  • There is no one unifying principle governing the regulatory status of digital assets nor whether digital assets are securities in any particular context. Regulatory changes or actions in one or more countries may alter the nature of an investment in us or restrict the use of digital assets in a manner that adversely affects our business, prospects or operations.
  • Regulatory changes or actions may restrict the use of digital assets or the operation of digital asset networks in a manner that may require us to cease certain or all operations, which could have a material adverse effect on our business, financial condition and results of operations.
  • Current and future legislation and rulemaking regarding digital assets may result in extraordinary, non-recurring expenses and could have a material adverse effect on our business, financial condition and results of operations.
  • Federal or state agencies may impose additional regulatory burdens on our business. Changing laws and regulations and changing enforcement policies and priorities have the potential to cause additional expenditures, restrictions, and delays in connection with our business operations.
  • Increasing scrutiny and changing expectations from investors, lenders, customers, government regulators and other market participants with respect to our Environmental, Social and Governance (“ESG”) policies may impose additional costs on us or expose us to additional risks.
  • We may be subject to risks associated with misleading and/or fraudulent disclosure or use by the creators of digital assets.
  • Because there has been limited precedent set for financial accounting for bitcoin and other digital assets, the determinations that we have made for how to account for digital assets transactions may be subject to change.
  • Digital assets exchanges and other trading venues are relatively new and, in some cases, partially unregulated and may therefore be more exposed to fraud and failure.
  • Digital asset transactions are irrevocable and, if stolen or incorrectly transferred, digital assets may be irretrievable. As a result, any incorrectly executed digital asset transactions could have a material adverse effect on our business, financial condition and results of operations.
  • We may not have adequate sources of recovery if the digital assets held by us are lost, stolen or destroyed due to third-party digital asset services, which could have a material adverse effect on our business, financial condition and results of operations.
  • Losses relating to our business may be uninsured, or insurance may be limited.
  • The impact of geopolitical, economic or other events on the supply of and demand for digital assets is uncertain, but could motivate large-scale sales of digital assets, which could result in a reduction in the price of such digital asset and could have a material adverse effect on our business, financial condition and results of operations.
  • Digital assets, including bitcoin, face significant scaling obstacles that can lead to high fees or slow transaction settlement times and any mechanisms of increasing the scale of digital asset settlement may significantly alter the competitive dynamics in the market.
  • Changes to, or changes to interpretations of, the U.S. federal, state, local or other jurisdictional tax laws could have a material adverse effect on our business, financial condition and results of operations.
  • Concerns about greenhouse gas emissions and global climate change may result in environmental taxes, charges, assessments or penalties and could have a material adverse effect on our business, financial condition and results of operations.
  • Latency in confirming transactions on a network could result in a loss of confidence in the network, which could have a material adverse effect on our business, financial condition and results of operations.
  • Significant or unexpected changes to our transaction processing operations may have a material adverse effect on our business, financial condition and results of operations.
  • Currently, we believe there is relatively limited use of digital assets in the retail and commercial marketplace in comparison to relatively sizable use by speculators, thus contributing to price volatility that could adversely affect an investment in our stock.
  • We may diversify our business by mining or investing in additional digital assets, financial instruments and/or businesses, which could require significant investment or expose us to trading risks.
  • If the transaction fees for recording digital assets in a blockchain increase, demand for digital assets may be reduced and prevent the expansion of the networks to retail merchants and commercial business, resulting in a reduction in the acceptance or price of digital assets.
  • If the award of new digital assets and/or transaction fees for solving blocks is not sufficiently high to incentivize transaction processors, such processors may reduce or cease expending processing power on a particular network, which could negatively impact the utility of the network, reduce the value of its digital assets and have a material adverse effect on our business, financial condition and results of operations.
  • As more processing power is added to a network, our relative percentage of total processing power on that network is expected to decline absent significant capital investment, which has an adverse impact on our ability to generate revenue from processing transactions on that network and could have a material adverse effect on our business, financial condition and results of operations.
  • We may only have limited control over our mining operation.
  • Our reliance on third-party mining pool service providers for our mining revenue payouts may have a negative impact on our operations.
  • Malicious actors or botnet may obtain control of more than 50% of the processing power on the Bitcoin or other network.
  • Transaction processing operators may sell a substantial amount of digital assets into the market, which may exert downward pressure on the price of the applicable digital asset and, in turn, could have a material adverse effect on our business, financial condition and results of operations.
  • To the extent that the profit margins of digital asset mining operations are not high, mining participants are more likely to sell their earned bitcoin, which could constrain bitcoin prices.
  • The “halving” of rewards available on the Bitcoin network, or the reduction of rewards on other networks, has had and in the future could have a negative impact on our ability to generate revenue as our customers may not have an adequate incentive to continue transaction processing and customers may cease transaction processing operations altogether, which could have a material adverse effect on our business, financial condition and results of operations.
  • From time to time we have sold, and we may sell in the future, a portion of our digital assets to pay for costs and expenses, which has reduced, and may reduce in the future, the amount of digital assets we hold, thus preventing us from recognizing any gain from the appreciation in value of the digital assets we have sold and may sell in the future.
  • Digital assets are subject to extreme price volatility. The value of digital assets is dependent on a number of factors, any of which could have a material adverse effect on our business, financial condition and results of operations.
  • Any loss or destruction of a private key required to access a digital asset of ours is irreversible. We also may temporarily lose access to our digital assets.
  • Intellectual property rights claims may adversely affect the operation of any or all of the networks.
  • A soft or hard fork on a network could have a material adverse effect on our business, financial condition and results of operations.
  • The digital assets held by us may be subject to loss, damage, theft or restriction on access, which could have a material adverse effect on our business, financial condition or results of operations.
  • The digital assets held by us are not subject to FDIC or SIPC protections.
  • We may not be able to maintain our competitive position as digital asset networks experience increases in total network hash rate.
  • To the extent that any miners cease to record transactions in solved blocks, transactions that do not include the payment of a transaction fee will not be recorded on the blockchain until a block is solved by a miner who does not require the payment of transaction fees. Any widespread delays in the recording of transactions could result in a loss of confidence in that digital asset network, which could adversely impact an investment in us.
  • Our interactions with a blockchain may expose us to SDN or blocked persons or cause us to violate provisions of law that did not contemplate distribute ledger technology.
  • If we fail to maintain an effective system of disclosure controls and internal control over financial reporting, our ability to produce timely and accurate financial statements or comply with applicable regulations could be impaired.
  • An active trading market for our common stock may never develop or be sustained.
  • The trading price of our common stock may be volatile, and you could lose all or part of your investment.
  • Future sales and issuances of our capital stock or rights to purchase capital stock could result in additional dilution of the percentage ownership of our stockholders and could cause our stock price to decline.
  • Sales of our common stock, or the perception of such sales, by us or the selling securityholders in the public market could cause the market price of our common stock to drop significantly, even if our business is doing well, and certain selling securityholder still may receive significant proceeds.
  • The Warrants may never be in the money, and may expire worthless.
  • Because we have not conducted an underwritten offering of our securities, no underwriter has conducted due diligence of our business, operations or financial condition or reviewed our disclosure.
  • XPDI has identified a material weakness in its internal control over financial reporting. This material weakness could continue to adversely affect Core’s ability to report its results of operations and financial condition accurately and in a timely manner.
  • Our warrants are accounted for as liabilities and the changes in value of our warrants could have a material effect on our financial results.
  • We may redeem your unexpired public warrants prior to their exercise at a time that is disadvantageous to you, thereby making your public warrants worthless.
  • We may be required to take write-downs or write-offs, or may be subject to restructuring, impairment or other charges that could have a significant negative effect on our financial condition, results of operations and the price of our common stock, which could cause you to lose some or all of your investment.
  • Provisions in our corporate charter documents and under Delaware law may prevent or frustrate attempts by our stockholders to change our management or hinder efforts to acquire a controlling interest in us, and the market price of our common stock may be lower as a result.
  • Our common stock market price and trading volume could decline if securities or industry analysts do not publish research or publish inaccurate or unfavorable research about our business.
  • We will incur costs and demands upon management as a result of complying with the laws and regulations affecting public companies in the United States, which may harm our business.
  • We do not intend to pay dividends for the foreseeable future.
  • If the merger’s benefits do not meet the expectations of financial analysts, the market price of our common stock may decline.
  • Our management has limited experience in operating a public company. The requirements of being a public company may strain our resources and divert management’s attention, and the increases in legal, accounting and compliance expenses may be greater than we anticipate.
  • We qualify as an “emerging growth company” within the meaning of the Securities Act, and if we take advantage of certain exemptions from disclosure requirements available to emerging growth companies, such decision could make our securities less attractive to investors and may make it more difficult to compare our performance to the performance of other public companies.
Management Discussion
  • Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations
  • Certain statements in this Quarterly Report on Form 10-Q may constitute “forward-looking statements” for purposes of the federal securities laws. Our forward-looking statements include, but are not limited to, statements regarding our and our management team’s expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “will,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements in this Quarterly Report on Form 10-Q may include, for example, statements about:
  • •anticipate the impact of changes in U.S. federal income tax laws, including the impact on deferred tax assets;

Content analysis

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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. junior Avg
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omission, omitted, onboard, onboarding, online, open, opened, opening, opportunistic, optimization, optimize, optimized, organization, organized, orthodox, outage, outbreak, outlined, outlook, outpace, outsourcing, overestimate, overlapping, overseeing, oversight, oversupply, owed, ownership, pace, package, pair, paper, Paragon, pari, Park, partition, partnership, passed, passive, passu, past, patent, Paycheck, payoff, payroll, penalty, pending, people, percentage, perception, personnel, perspective, pertaining, phenomena, photo, physical, PIK, pioneer, plant, platform, Plattsburgh, PLC, pledge, pledged, point, policy, political, Ponzi, pool, popularity, pornography, Port, pose, possessing, possessor, PPP, precautionary, precedent, predecessor, predetermined, predict, predicting, predominantly, predominately, preexisting, preliminary, premier, premium, prepaid, prepay, prescribed, presence, preserve, president, pressure, prevailing, prevalent, primary, principle, privacy, proceeding, processor, produce, produced, producing, product, professional, professionalized, proficiency, profit, profitability, profitable, profitably, program, programmed, project, projected, prolonged, promised, promote, promotion, proof, proportion, proprietary, prorated, proscribed, protocol, prove, publish, published, purportedly, put, putting, Qinghai, qualification, quality, quantity, quickly, quintillion, radar, radioactivity, rampant, range, ranging, rapid, rapidly, ratably, reach, reached, reaction, ready, real, rebellion, rebranded, recapitalization, recipient, reclassified, REcoin, reconsider, recordkeeping, recourse, recoverability, recoverable, recruit, redesignated, redundancy, redundant, refine, refundable, refuted, regime, region, regional, regular, regularly, reinvesting, reiterated, reject, relationship, Relay, reliance, reliant, relief, relocation, reluctant, remediate, remediation, renamed, renew, renewable, renewal, rent, repair, repaired, repeal, repeat, repel, replace, replaced, replacement, reputation, request, requested, resale, research, researching, Reserve, reserved, resign, resolution, resolved, resolving, respond, responded, rest, restore, restored, restoring, restructure, restructuring, resurgence, retail, retain, retained, retaining, retention, retrieve, retroactive, retroactively, retrospective, retrospectively, reveal, revenue, reverse, reversible, reversing, revert, revolution, reward, rewarded, Riley, riot, robust, role, rollforward, rolling, ROU, rounded, RStor, rulemaking, run, Russia, Russian, sabotage, safe, safeguard, safekeeping, salary, sanction, satisfactory, Satoshi, SBA, scalable, scale, scaled, scaling, scarcity, scenario, scheduled, scheme, screen, scrutiny, SDN, seasonality, secondary, secrecy, Secretary, sector, securityholder, segment, segregated, segregation, Senate, send, sending, sensitive, sentiment, Sept, seq, serve, server, sharding, shareholder, sharp, shift, shifted, shifting, shortage, shorter, shortfall, shortly, shown, shutdown, Siacoin, Sichuan, side, signaled, significantly, Silverpeak, similarly, simple, simplify, Simplifying, SIPC, site, sixtieth, sizable, size, skilled, slowdown, slower, small, social, soft, software, solve, solved, solving, sophisticated, sophistication, sought, source, sourcing, South, Southern, specialist, speculation, speed, spend, spending, spot, spread, stability, staffing, stage, stake, staking, stance, standalone, standing, Stat, statutory, stay, steal, step, Sterling, stolen, stop, stoppage, storage, store, stored, strain, strategic, strategy, strength, stronger, substitute, succeed, successor, suffer, suffered, suggested, summer, superior, supply, Supreme, surge, surrendered, switch, symbol, takeover, talent, tampering, tariff, task, taxation, team, tear, technical, technological, technologically, technology, temperature, temporarily, tenant, Tenaska, tenure, terrorism, test, testimony, testing, theft, theoretical, theory, therefrom, thereunder, therewith, thermodynamic, thirty, threatened, tidal, tightening, Timothy, today, token, tokenlot, top, tornado, track, tracking, traditional, traffic, train, training, tranche, transmission, transmitter, treat, treated, trend, Trinity, true, Trump, Trzupek, turn, twenty, type, typically, Ukraine, ultimate, ultimately, unaffected, unanswered, unanticipated, unauthorized, unavailable, unaware, unclear, unconfirmed, unconsolidated, uncover, underestimate, undergone, underwritten, undistributed, unduly, unexercised, unexpected, unexpired, unfavorable, unforeseen, unidentified, Uniformed, unifying, unincorporated, uninsurable, uninsured, Union, unique, unissued, unknowingly, unlawful, unmarketable, unnecessary, unpaid, unpredictable, unprofitable, unregulated, unreliable, unsecured, unsettled, unsuccessful, unused, unusual, update, updated, updating, upgrade, upgraded, upgrading, upward, Urban, urged, usage, user, usurped, validate, validating, validation, validator, validity, vandalism, variability, variable, variety, vary, varying, vast, vendor, venture, verification, verified, verify, verifying, Vermont, version, vertically, vet, viability, viable, Vice, violate, violating, violation, virtual, virtue, visual, void, volunteer, vulnerable, wallet, war, warehousing, Washington, water, weapon, wear, weather, white, widely, widespread, withdrawal, withholding, withstand, workforce, world, worldwide, Wuhan, York, Zachary
Removed: accredited, appoint, appointment, assign, assignable, attribute, bearing, BlackRock, blank, blue, Bulletin, Carlo, categorized, cent, CEO, charged, check, concert, Conditionally, consummating, Continental, correlation, curve, Depository, Description, determinable, deviation, discrepancy, dissolution, Distinguishing, effecting, endeavoring, entirety, examination, expressed, extinguish, faith, foregoing, forfeiture, formation, fractional, good, heading, implied, inclusion, indemnify, indemnity, integral, liquidation, mandatory, median, Monte, noncash, noted, paying, PCAOB, peer, permit, pro, proceed, promptly, propose, qualifying, Qualitative, quantitative, rata, reconcile, recovered, redeemed, redeeming, reimburse, reimbursed, relax, rendered, residual, rotation, Safety, salable, select, selecting, seller, separable, simulation, Simultaneously, sky, solicitation, structuring, substance, Subtopic, tangible, taxing, termination, thereon, title, transferable, unadjusted, underwriting, unenforceable, upfront, voted, waive, waiving, winding, XMS