NELR — what changed in the latest 10-Q
A section-by-section comparison of NELR'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 · 2026-05-14 vs the prior 10-Q · 2026-04-29
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +12 | −7 | ~1 | 0 |
| Market risk (Item 3) | Text added/removed | +1 | −1 | 0 | 0 |
| Controls & procedures | Text added/removed | +1 | −1 | ~1 | 0 |
| Legal proceedings | Text added/removed | +1 | −1 | 0 | 0 |
| 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.
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 · 2026-05-14
Following the Company’s corporate transition during September 2025, the Company remained a reporting issuer and continued to evaluate potential business opportunities. During the three months ended March 31, 2026, the Company did not conduct active operating business activities and did not generate …
Three months ended March 31, 2026 compared with three months ended March 31, 2025
Revenue was $0 for the three months ended March 31, 2026, compared with $9,750 for the three months ended March 31, 2025. The decrease was due to the Company having no active operating business activities during the 2026 period.
Cost of goods sold was $0 for the three months ended March 31, 2026, compared with $2,100 for the three months ended March 31, 2025. Gross profit was $0 for the three months ended March 31, 2026, compared with $7,650 for the three months ended March 31, 2025.
Operating expenses were $2,643 for the three months ended March 31, 2026, compared with $25,879 for the three months ended March 31, 2025. The decrease was primarily due to lower general and administrative expenses and no amortization expense during the 2026 period.
Text removed vs the prior filing · source: 10-Q · 2026-04-29
During the quarter ended December 31, 2025, the Company did not generate revenue. The Company’s activities during the quarter were limited primarily to maintaining its public-company reporting status, incurring compliance-related costs, recognizing a prepaid legal retainer, and evaluating future bus…
For the three months ended December 31, 2025, the Company recorded no revenue, compared with revenue of $7,800 for the three months ended December 31, 2024. The Company recorded a net loss of $8,772 for the three months ended December 31, 2025, compared with a net loss of $5,009 for the comparable p…
For the six months ended December 31, 2025, the Company recorded no revenue, compared with revenue of $7,800 for the six months ended December 31, 2024. The Company recorded a net loss of $82,393 for the six months ended December 31, 2025, compared with a net loss of $9,595 for the six months ended …
As of December 31, 2025, total assets were $15,000, consisting solely of prepaid expenses. Total liabilities were $373, consisting of accounts payable of $276 and related party advances of $97. Total stockholders’ equity was $14,627 as of December 31, 2025.
Net cash used in operating activities for the six months ended December 31, 2025 was $30,781, primarily due to the net loss for the period, partially offset by non-cash impairment, non-cash write-off, and amortization charges, as well as changes in prepaid expenses and accounts payable. Net cash pro…
Market risk (Item 3)
Text added vs the prior filing · source: 10-Q · 2026-05-14
As a smaller reporting company, the Company is not required to provide the information required by this Item.
Text removed vs the prior filing · source: 10-Q · 2026-04-29
As a smaller reporting company, the Company is not required to provide the information otherwise required by this Item. In any event, the Company does not believe that it is currently exposed to material market risk.
Controls & procedures
Text added vs the prior filing · source: 10-Q · 2026-05-14
Under the supervision and with the participation of management, including our principal executive officer and principal financial officer, we evaluated the effectiveness of our disclosure controls and procedures as of March 31, 2026. Based upon that evaluation, our principal executive officer and pr…
Text removed vs the prior filing · source: 10-Q · 2026-04-29
As of the end of the period covered by this report, the Company’s Chief Executive Officer and Chief Financial Officer carried out an evaluation of the effectiveness of the design and operation of the Company’s disclosure controls and procedures. Based on that evaluation, management concluded that th…
Legal proceedings
Text added vs the prior filing · source: 10-Q · 2026-05-14
During the quarter ended March 31, 2026, there were no pending or threatened legal actions against us.
Text removed vs the prior filing · source: 10-Q · 2026-04-29
The Company is not presently a party to any material legal proceedings, and to the best of management’s knowledge, no such proceedings are threatened against the Company.
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