CNFN — what changed in the latest 10-Q
A section-by-section comparison of CNFN'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 · 2026-05-20 vs the prior 10-Q · 2025-11-19
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +27 | −52 | ~1 | 0 |
| Controls & procedures | Text added/removed | +1 | −1 | ~1 | 0 |
| Other information | Text added/removed | +8 | −5 | 0 | 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): Market risk (Item 3), Legal proceedings, Risk factors
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 · 2026-05-20
CFN Enterprises Inc. operates a wine and beverage platform together with its sponsored content and marketing business, or the CFN Business. Our continuing operations consist of (i) the wine and beverage operations conducted through J Street Capital Partners, LLC, Prestige Worldwide Wine Company, LLC…
On July 1, 2025, the Company completed the acquisition of J Street Capital Partners, LLC, a Florida limited liability company. J Street has historically been engaged in the import and wholesale distribution of wines and alcoholic beverages in various U.S. states, including Nevada, New York, New Jers…
On November 3, 2025, the Company, through its wholly owned subsidiary J Street, completed the acquisition of Prestige Worldwide Wine Company, LLC, a California limited liability company. Prestige is a winemaking consulting company that provides winemaking services to third parties. The acquired asse…
In October 2025, J Street participated in the formation of Interstice Cellars LLC, a Delaware limited liability company formed to operate as a developer and retailer of specialty wines. J Street serves as the managing member and holds a 51% membership interest. The remaining 49% is held by two unaff…
The CFN Business generates revenue through sponsored content, including articles, press releases, videos, podcasts, advertisements and other media, email advertisements and other marketing campaigns run on behalf of public and private companies in the cannabis industry, helping them reach accredited…
Text removed vs the prior filing · source: 10-Q · 2025-11-19
We own and operate a cannabis industry focused sponsored content and marketing business, or the CFN Business, and a white label manufacturing and co-packing business, or the Ranco Business. Our ongoing operations currently consist primarily of the CFN Business and the Ranco Business and we will cont…
On July 1, 2023, the Company, through its wholly owned subsidiary, RANCO, LLC, a Delaware limited liability company, or Ranco, acquired assets from RAN CoPacking Solutions LLC, a California limited liability company, or the Acquisition which consists of assets for co-packing and white label manufact…
The CFN Business generates revenue through sponsored content, including articles, press releases, videos, podcasts, advertisements and other media, email advertisements and other marketing campaigns run on behalf of public and private companies in the cannabis industry, helping them reach accredited…
Ranco performs services including white label manufacturing and co-packing for customers. Customers will drop off their product and the Company will perform the services via their employees and contractors. Ranco will also order products that are manufactured overseas, such as custom boxes, packagin…
On May 29, 2025, the Company entered into a Securities Purchase Agreement to acquire 100% of the equity interests of J Street Capital Partners, LLC, a Florida limited liability company, or J Street, and the owner of all of the equity interests of J Street, or the J Street Seller, whereby the Company…
Controls & procedures
Text added vs the prior filing · source: 10-Q · 2026-05-20
There were no changes in our internal control over financial reporting during the three months ended March 31, 2026 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.
Text removed vs the prior filing · source: 10-Q · 2025-11-19
During the quarter ended September 30, 2025, in order to remediate the segregation of duties and other deficiencies, we hired accounting consultants to perform our account reconciliations and other day-to-day accounting requirements. The internal control structure was also documented and assessed in…
Other information
Text added vs the prior filing · source: 10-Q · 2026-05-20
Given the timing of the events, the following information is included in this Form 10-Q pursuant to Item 3.02 Unregistered Sales of Equity Securities” of Form 8-K in lieu of filing a Form 8-K.
On May 5, 2026, the Company issued a five-year common stock purchase warrant (the "May 5 Warrant") to purchase up to 30,000 shares of the Company's common stock at an exercise price of $0.50 per share in connection with the 12% promissory note issued on May 5, 2026. The May 5 Warrant is exercisable …
On May 20, 2026, the Company issued a five-year common stock purchase warrant (the "May 20 Warrant") to purchase up to 50,000 shares of the Company's common stock at an exercise price of $0.50 per share in connection with the 12% promissory note issued on May 20, 2026. The May 20 Warrant is exercisa…
On May 20, 2026, the Company issued to Emerging Growth LLC an aggregate of 470,000 shares of common stock in lieu of $235,000 of interest payable through April 30, 2026 pursuant to the terms of the Series B Preferred Stock. The shares were issued in a private transaction exempt from the registration…
On May 20, 2026, the Company issued 120,000 shares of common stock for services at an aggregate fair value of $60,000. The shares were issued in a private transaction exempt from the registration requirements of the Securities Act, pursuant to Section 4(a)(2) of the Securities Act, as a transaction …
Text removed vs the prior filing · source: 10-Q · 2025-11-19
Given the timing of the events, the following information is included in this Form 10-Q pursuant to Item 5.02 “Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers” in lieu of filing a Form 8-K.
On November 19, 2025, the Company’s Board of Directors, or the Board, named Mario Marsillo, Jr., the Company’s current Chief Investment Officer and a director, as the Company’s Chief Business Officer, a title which more accurately reflects his responsibilities within the Company. This expanded title…
Also on November 19, 2025, the Board terminated Allen Park, the Company’s Chief Operating Officer and Controller, for cause as defined in the Employment Agreement between the Company and Allen Park, dated July 1, 2023.
Given the timing of the events, the following information is included in this Form 10-Q pursuant to Item 7.01 “Item 7.01 Regulation FD Disclosure” in lieu of filing a Form 8-K.
On November 19, 2025, following the passage of H.R. 5371, the “Continuing Appropriations, Agriculture, Legislative Branch, Military Construction and Veterans Affairs, and Extensions Act, 2026”, which bans intoxicating hemp-derived consumable products nationally on November 12, 2026, the Board has de…
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