GAFC — what changed in the latest 10-Q
A section-by-section comparison of GAFC'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 · 2026-06-30 vs the prior 10-Q · 2026-03-17
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +1 | −1 | ~18 | 28 |
| Market risk (Item 3) | Text added/removed | +1 | −1 | ~17 | 28 |
| Controls & procedures | Text added/removed | +1 | −1 | ~17 | 28 |
| Legal proceedings | Text added/removed | +1 | −1 | ~17 | 28 |
| Other information | Text added/removed | +1 | −1 | ~16 | 28 |
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): 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 · 2026-06-30
Accounts receivables are recorded at the invoiced amount and presented net of an allowance for credit losses. The allowance reflects management’s estimate of expected credit losses based on historical collection experience, aging of receivables, customer-specific factors, and current and forecasted …
Text removed vs the prior filing · source: 10-Q · 2026-03-17
Accounts receivable are composed of trade receivables recorded at either the invoiced amount or costs in excess of billings, are expected to be collected within one year, and do not bear interest.
Market risk (Item 3)
Text added vs the prior filing · source: 10-Q · 2026-06-30
Accounts receivables are recorded at the invoiced amount and presented net of an allowance for credit losses. The allowance reflects management’s estimate of expected credit losses based on historical collection experience, aging of receivables, customer-specific factors, and current and forecasted …
Text removed vs the prior filing · source: 10-Q · 2026-03-17
Accounts receivable are composed of trade receivables recorded at either the invoiced amount or costs in excess of billings, are expected to be collected within one year, and do not bear interest.
Controls & procedures
Text added vs the prior filing · source: 10-Q · 2026-06-30
Accounts receivables are recorded at the invoiced amount and presented net of an allowance for credit losses. The allowance reflects management’s estimate of expected credit losses based on historical collection experience, aging of receivables, customer-specific factors, and current and forecasted …
Text removed vs the prior filing · source: 10-Q · 2026-03-17
Accounts receivable are composed of trade receivables recorded at either the invoiced amount or costs in excess of billings, are expected to be collected within one year, and do not bear interest.
Legal proceedings
Text added vs the prior filing · source: 10-Q · 2026-06-30
Accounts receivables are recorded at the invoiced amount and presented net of an allowance for credit losses. The allowance reflects management’s estimate of expected credit losses based on historical collection experience, aging of receivables, customer-specific factors, and current and forecasted …
Text removed vs the prior filing · source: 10-Q · 2026-03-17
Accounts receivable are composed of trade receivables recorded at either the invoiced amount or costs in excess of billings, are expected to be collected within one year, and do not bear interest.
Other information
Text added vs the prior filing · source: 10-Q · 2026-06-30
Accounts receivables are recorded at the invoiced amount and presented net of an allowance for credit losses. The allowance reflects management’s estimate of expected credit losses based on historical collection experience, aging of receivables, customer-specific factors, and current and forecasted …
Text removed vs the prior filing · source: 10-Q · 2026-03-17
Accounts receivable are composed of trade receivables recorded at either the invoiced amount or costs in excess of billings, are expected to be collected within one year, and do not bear interest.
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