PCAPU — what changed in the latest 10-Q
A section-by-section comparison of PCAPU'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 · 2026-08-10 vs the prior 10-Q · 2026-05-07
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +4 | −2 | ~6 | 12 |
| 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 |
| 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 · 2026-08-10
For the three months ended June 30, 2025, we had net income of $995,265, which consisted of interest earned on cash held in Trust Account of $1,114,608 and a change in the fair value of the over-allotment option liability of $14,188, offset by general and administrative costs of $133,531.
For the six months ended June 30, 2026, we had net income of $3,986,312, which consisted of interest earned on cash held in Trust Account of $4,331,173 and offset by general and administrative costs of $344,861.
For the period from January 2, 2025 (inception) through June 30, 2025, we had net income of $925,246, which consisted of interest earned on cash held in Trust Account of $1,114,608 and a change in the fair value of the over-allotment option liability of $14,188, offset by general and administrative …
For the period from January 2, 2025 (inception) through June 30, 2025, cash used in operating activities was $188,472. The net income of $925,246 was affected by the following non-cash and working capital items: interest income of $1,114,608, on cash held in the Trust Account, a $35,000 adjustment t…
Text removed vs the prior filing · source: 10-Q · 2026-05-07
For the period from January 2, 2025 (Inception) through March 31, 2025, we had a net loss of $70,019, which consisted of general and administrative costs.
For the period from January 2, 2025 (inception) through March 31, 2025, cash used in operating activities was $0. The net loss of $70,019 was offset by $60,895 in general and administrative expenses paid through the promissory note – related party and changes in operating assets and liabilities prov…
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