ALSAF — what changed in the latest 10-Q
A section-by-section comparison of ALSAF'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 · 2026-08-26 vs the prior 10-Q · 2026-05-15
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +3 | −1 | ~14 | 16 |
| Market risk (Item 3) | Text added/removed | 0 | 0 | ~1 | 0 |
| Controls & procedures | Text added/removed | 0 | 0 | ~3 | 10 |
| Legal proceedings | Text added/removed | 0 | 0 | ~1 | 0 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
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): Other information
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 · 2026-08-26
For the three months ended June 30, 2025, we had a net loss of $(137,495), which consisted of operating costs of $142,376, offset by interest income on marketable securities held in the Trust Account of $3,190 and unrealized interest income on marketable securities held in the Trust Account of $1,69…
For the six months ended June 30, 2025, we had a net loss of $(338,262), which consisted of operating costs of $366,188, offset by interest income on marketable securities held in the Trust Account of $26,235 and unrealized interest income on marketable securities held in the Trust Account of $1,691…
For the six months ended June 30, 2025, net cash used by operating activities was $528,701. Net loss of $(338,262) consisted of formation and operating costs of $366,188, offset by interest and dividends earned on marketable securities held in trust of $27,926. Net cash provided by investing activit…
Text removed vs the prior filing · source: 10-Q · 2026-05-15
For the three months ended March 31, 2025, net cash used in operating activities was $209,766. Net loss of $(200,767) consisted of formation and operating costs of $223,812, offset by interest earned on marketable securities held in trust of $23,045. Net cash used in financing activities was $10,504…
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