ALCYF — what changed in the latest 10-Q
A section-by-section comparison of ALCYF's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-05-21 vs the prior 10-Q · 2025-11-18
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +11 | −15 | ~9 | 9 |
| Market risk (Item 3) | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Controls & procedures | Text added/removed | +1 | 0 | ~2 | 2 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
| Other information | Text added/removed | 0 | 0 | ~1 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Not shown (absent or not faithfully extractable): Legal proceedings
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-05-21
For the three months ended March 31, 2026, net cash used in operating activities was $192,399, which was due to our net loss of $331,900, offset by a gain on investments held in the Trust Account of $77,816 and changes in working capital of $217,317.
For the three months ended March 31, 2025, net cash used in operating activities $369,175, which was due to our net loss of $301,497, offset by a gain on investments held in the Trust Account of $124,408 and changes in working capital of $56,730.
For the three months ended March 31, 2026, net cash used in investing activities was $66,378, which was due to the cash deposited in Trust account for extension.
For the three months ended March 31, 2025, net cash used in investing activities was $60,000, which was due to the cash deposited in Trust account for extension.
For the three months ended March 31, 2026, net cash provided by financing activities was $290,000, which was due to the proceeds from the promissory note, related party.
Text removed vs the prior filing · source: 10-Q · 2025-11-18
For the nine months ended September 30, 2025, we had net loss of $863,650, which resulted from operating costs of $1,150,604, offset by a gain on investments held in the Trust Account of $370,226, dividend income of $8,309 and related party interest expense of $91,581.
For the nine months ended September 30, 2024, we had net income of $4,183,639, which resulted from operating costs of $601,170, offset by a gain on investments held in the Trust Account of $4,775,370, and dividend income of $9,439.
For the nine months ended September 30, 2025, net cash used in operating activities was $1,041,916, which was due to our net loss of $863,650, offset by a gain on investments held in the Trust Account of $370,226 and changes in working capital of $191,960.
For the nine months ended September 30, 2024, net cash used in operating activities was $500,104, which was due to our net income of $4,183,639, offset by a gain on investments held in the Trust Account of $4,775,370 and changes in working capital of $91,627.
There were no cash flows from investing activities for the nine months ended September 30, 2025 and 2024.
Controls & procedures
Text added vs the prior filing · source: 10-Q · 2026-05-21
We did not maintain effective controls over the completeness and timely recording of accrued vendor expenses and other accrued liabilities, including unbilled amounts at period end for significant vendors. As a result, vendor fees were underaccrued during the period ended March 31, 2026. Management …
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice