LIQT — what changed in the latest 10-Q
A section-by-section comparison of LIQT'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 · 2026-05-13 vs the prior 10-Q · 2025-11-14
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +16 | −24 | ~7 | 13 |
| Market risk (Item 3) | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Controls & procedures | Text added/removed | 0 | −1 | ~3 | 4 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 1 |
| 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.
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 · 2026-05-13
Comparison of the Three Months Ended March 31, 2026, and March 31, 2025
Revenue for the three months ended March 31, 2026 was $4,136,320 compared to $4,617,541 for the same period in 2025, representing a decrease of $481,221, or 10.4%. The decrease was solely attributable to a reduction in system sales, reflecting a significant Water for Energy delivery in 2025 that did…
Total operating expenses for the three months ended March 31, 2026 were $2,670,953, representing an increase of $360,568, or 15.6%, compared to $2,310,385 for the same period in 2025. Approximately 60% of the increase relates to foreign exchange rate developments, as the average USD/DKK exchange rat…
Selling expenses for the three months ended March 31, 2026 were $980,674 compared to $718,016 for the same period in 2025, representing an increase of $262,658, or 36.6%. Excluding the impact of foreign exchange rate developments, costs increased primarily due to the full-year effect of hires within…
General and administrative expenses for the three months ended March 31, 2026 were $1,414,145 compared to $1,362,246 for the same period in 2025, representing an increase of $51,899, or 3.8%. Adjusting for foreign exchange rate developments, expenses remained stable and below general inflation, as f…
Text removed vs the prior filing · source: 10-Q · 2025-11-14
Comparison of the Three Months Ended September 30, 2025, and September 30, 2024
Revenue for the three months ended September 30, 2025 was $3,807,274 compared to $2,478,221 for the same period in 2024, representing an increase of $1,329,053, or 53.6%. The favorable change was attributable to an increase in liquid filtration systems, specifically an increase in pool system delive…
Selling expenses for the three months ended September 30, 2025 were $541,259 compared to $610,713 for the same period in 2024, representing a decrease of $69,454, or 11.4%. The decrease in selling expenses is related to the release of a bad debt provision due to aging improvements as well as lower d…
General and administrative expenses for the three months ended September 30, 2025 were $1,270,195 compared to $1,491,366 for the same period in 2024, representing a decrease of $221,171, or 14.8%. While overall expenses remained stable, an increase in non-cash compensation was offset by correspondin…
Research and development expenses for the three months ended September 30, 2025 were $269,426 compared to $278,361 for the same period in 2024, representing a decrease of $8,935, or 3.2%. The decrease was primarily attributed to one-time exit costs of a loss-making external development project in th…
Controls & procedures
Text removed vs the prior filing · source: 10-Q · 2025-11-14
While management believes that the steps that we have taken and plan to take will improve the overall system of internal control over financial reporting and will remediate identified material weaknesses, the material weaknesses cannot be considered remediated until the applicable relevant controls …
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