LRDC — what changed in the latest 10-Q
A section-by-section comparison of LRDC'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 · 2026-10-15 vs the prior 10-Q · 2026-04-14
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +6 | −10 | ~15 | 20 |
| Market risk (Item 3) | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Controls & procedures | Text added/removed | 0 | 0 | ~1 | 2 |
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): Legal proceedings, Risk factors, 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 · 2026-10-15
Secondary to pursuing UGD projects is drilling conventional oil wells in Montana. Prior to purchasing the shares of SORC, while implementing UGD projects for Allegheny, we gained specialized know-how, intellectual property and operational experience in evaluating, acquiring, operating and developing…
We also have a 50% interest in the Cat Creek oil field, located west of our mineral rights described above, which is recorded with no value on our financial statements.
In September, we announced the signing of Letter of Intent with a major independent oil producer in Argentina concerning the development of UGD facilities there. Progress is being made to reach a definitive agreement as soon as practical.
We were unable to raise $7.5 million to drill the planned three exploratory wells by selling units of West Fork Resources, LLC. Preliminary development operations such as acquiring seismic data, site selection, and permitting was started, as $750,000 of the $2.25 million funds initially raised elect…
During the three months ending August 31, 2026, and 2025, respectively, the Company recognized $0 and $1,543 of revenue from one of the three Texakoma wells being put into production.
Text removed vs the prior filing · source: 10-Q · 2026-04-14
Prior to purchasing the shares of SORC, while implementing UGD projects for Allegheny, we gained specialized know-how, intellectual property and operational experience in evaluating, acquiring, operating and developing oil and gas properties, as well as expertise in designing, drilling and producing…
During fiscal 2026, we have focused our efforts on developing our UGD business model which requires substantial investment to acquire access to, and to develop oil and gas properties for production. We also continued to develop our mineral rights through conventional drilling. Our various operationa…
No agreements have been consummated as of the filing date of this report. Discussions are ongoing.
We are in the process of evaluating alternatives to continuing the original plan to raise $7.5 million to drill three exploratory wells by selling units of West Fork Resources, LLC. The purpose of the original plan is to prove up portions of our over 21,000 acres of mineral rights located north of t…
We recognized revenues totaling $3,141 and $9,423, respectively through our interest in oil and gas sales for the nine months ending February 28 ,2026 and 2025. During the nine months ending February 28, 2026 and 2025, we incurred operating expenses from continuing operations of $5,430,629 and $1,70…
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