LBSR — what changed in the latest 10-Q
A section-by-section comparison of LBSR'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 · 2026-06-11 vs the prior 10-Q · 2025-12-12
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +5 | −14 | ~6 | 42 |
| Market risk (Item 3) | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Controls & procedures | Text added/removed | 0 | 0 | ~3 | 2 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Risk factors | No paragraph-level changes | 0 | 0 | 0 | 1 |
| 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.
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 · 2026-06-11
On December 17, 2025, we formed American Strategic Minerals, LLC (“American Strategic”) also wholly owned subsidiary of Hay Mountain Holdings, LLC. We are in the exploration phase of operations and have not generated any revenues from operations.
We had a net loss of $114,995 for the three months ended April 30, 2026, compared to a net loss of $336,132 for the three months ended April 30, 2025. The change in net loss was primarily due to a change in derivative liability and loss on settlement of liabilities which were offset by an increase i…
We had cash and cash equivalents in the amount of $65,191 as of April 30, 2026. We had a working capital deficit of $502,365 as of April 30, 2026. We used cash in operating activities of $234,268 for the three months ended April 30, 2026.
Net cash used in operating activities was $234,268 and $159,200 for the three months ended April 30, 2026 and 2025, respectively, and mainly included payments made for geological and geophysical costs, compensation, and professional fees to our consultants, attorneys and accountants.
Net cash provided by financing activities was $22,500 for the three months ended April 30, 2026, related to the proceeds convertible promissory notes which were offset by the repayments of convertible notes. Net cash provided by financing activities was $206,122 for the three months ended April 30, …
Text removed vs the prior filing · source: 10-Q · 2025-12-12
We had a net loss of $559,640 for the three months ended October 31, 2025, compared to a net income of $926,992 for the three months ended October 31, 2024. The change in net loss was primarily due to a change in derivative liability.
Results of Operations for the Nine-Month Periods Ended October 31, 2025 and 2024
We had net loss of $1,114,484 for the nine months ended October 31, 2025, compared to a net income of $2,387,518 for the nine months ended October 31, 2024. The change in net loss was primarily due to the change in derivative liability.
During the nine months ended October 31, 2025, we had a decrease of $306,513 in geological and geophysical expense compared to the nine months ended October 31, 2024, due primarily to a decrease in geologist fees and filing fees for the nine-month period. During the nine months ended October 31, 202…
We had cash and cash equivalents in the amount of $436,521 as of October 31, 2025. We had a working capital deficit of $1,286,452 as of October 31, 2025. We used cash in operating activities of $537,057 for the nine months ended October 31, 2025.
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