RWDMU — what changed in the latest 10-Q
A section-by-section comparison of RWDMU'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 · 2026-08-14 vs the prior 10-Q · 2026-05-20
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +43 | −16 | ~23 | 39 |
| Market risk (Item 3) | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Controls & procedures | Text added/removed | 0 | 0 | ~1 | 5 |
| Legal proceedings | Text added/removed | 0 | 0 | ~1 | 0 |
| 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 · 2026-08-14
To determine the amount of cash to be distributed in any specific month, the company relies in part on its forecast of full year profits.
Percent of members’ capital, gross – average daily balance (annualized).
Percent based on the net income available to members (excluding 1% allocated to manager).
Members Distributions is net of O&O expenses allocated to members’ accounts during the year.
Key performance indicators as of and for the three months ended June 30, 2026 and 2025 are presented in the following table ($ in thousands).
Text removed vs the prior filing · source: 10-Q · 2026-05-20
To determine the amount of cash to be distributed in any specific month, the company relies in part on its forecast of full year profits. At March 31, 2026, the difference between earnings allocated to members’ capital accounts and net income available to members was approximately $279 thousand, and…
Loan origination for three months ended March 31, 2026 increased by approximately $2.6 million compared to the same period in 2025. This increase is primarily due to utilization of the line of credit.
In Los Angeles (LTV 83%, principal $625 thousand), a multi-family building (second lien deed of trust) – The loan matured in August 2025 and the borrower continues making monthly payments. The loan paid off in April 2026.
In Los Angeles (LTV 89%, principal $600 thousand), a multi-family building (second lien deed of trust) – The loan matured in April 2025 and the borrower continues making monthly payments.
In Palo Alto, Santa Clara County (LTV 78%, principal $4.7 million), an office building with approved plans for a senior living housing facility (first lien deed of trust) – The loan matured in October 2023. On March 31, 2026, the borrower and the company entered into an agreement (the “2026 agreemen…
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