MCLE — what changed in the latest 10-Q
A section-by-section comparison of MCLE'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 · 2026-02-17 vs the prior 10-Q · 2025-08-15
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +8 | −10 | ~3 | 10 |
| Market risk (Item 3) | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Controls & procedures | Text added/removed | 0 | 0 | ~1 | 4 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Other information | No paragraph-level changes | 0 | 0 | 0 | 1 |
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 · 2026-02-17
As at December 31, 2025, our Company had current liabilities of $32,202 as compared to $33,652 as of September 30, 2025. The decrease in current liabilities was due to the decrease in accounts payable and accrued liabilities.
As at December 31, 2025, our Company had a working capital deficiency of $32,202 compared with a working capital deficit of $33,652 as at September 30, 2025. The increase in working capital deficit was primarily due to the increase in accrued interest payable.
We have not generated positive cash flow from operating activities. During the three months ended December 31, 2025, net cash used in operating activities was $6,740 compared to $10,000 used during the three months ended December 31, 2024.
Cash flows used in operating activities during the three months ended December 31, 2025, comprised of a net loss of $5,290 increased by a net change in operating liabilities of $1,450.
Cash flows used in operating activities during the three months ended December 31, 2024, comprised of a net loss of $16,680, decreased by a net change in operating liabilities of $6,680.
Text removed vs the prior filing · source: 10-Q · 2025-08-15
Nine months ended June 30, 2025 compared to three months ended June 30, 2024
Our net loss for the nine months ended June 30, 2025 was $30,483 compared with net loss of $41,332 for the nine months ended June 30, 2024 due to the decrease in audit and review fees, accounting fees and filing fees.
As at June 30, 2025, our Company had current liabilities of $29,439 as compared to $15,507 as of September 30, 2024. The increase in current liabilities was due to the increase in accounts payable, accrued liabilities and accrued interest payable.
As at June 30, 2025, our Company had a working capital deficiency of $29,439 compared with a working capital deficit of $15,348 as at September 30, 2024. The increase in working capital deficit was primarily due to the increase in accounts payable, accrued liabilities and accrued interest payable.
We have not generated positive cash flow from operating activities. During the nine months ended June 30, 2025, net cash used in operating activities was $16,551 compared to $68,076 used during the nine months ended June 30, 2024.
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