SOUL — what changed in the latest 10-Q
A section-by-section comparison of SOUL'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 · 2026-08-12 vs the prior 10-Q · 2026-05-13
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +7 | −4 | ~6 | 14 |
| Market risk (Item 3) | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 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.
Not shown (absent or not faithfully extractable): Legal proceedings
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 · 2026-08-12
For the three months ended June 30, 2026, we had net income of $1,923,746, which consisted of interest earned on cash held in the Trust Account of $2,300,355 and dividend income of $740, partially offset by operational costs of $318,525 and interest expense of $58,824.
For the three months ended June 30, 2025, we had net income of $2,137,114, which consisted of interest earned on cash held in the Trust Account of $2,520,316 and dividend income of $6,489, partially offset by operational costs of $389,691.
For the six months ended June 30, 2026, we had net income of $3,504,079, which consisted of interest earned on cash held in the Trust Account of $4,565,591 and dividend income of $1,395, partially offset by operational costs of $1,004,083 and interest expense of $58,824. Net cash used in operating a…
For the six months ended June 30, 2025, we had net income of $1,957,396, which consisted of interest earned on cash held in the Trust Account of $2,520,316 and dividend income of $6,679, partially offset by operational costs of $569,599. Net cash used in operating activities was $809,383, primarily …
In order to support the Company’s working capital requirements, in addition to the Working Capital Loans, in February 2026, we issued two unsecured promissory notes with Soulpower Management LLC (the “Lender”), the sole managing member of the Sponsor. The Lender holds voting and investment discretio…
Text removed vs the prior filing · source: 10-Q · 2026-05-13
For the three months ended March 31, 2026, we had net income of $1,580,333, which consisted of interest earned on cash held in the Trust Account of $2,265,236, partially offset by operational costs of $685,558. Net cash used in operating activities was $1,420,131, primarily driven by non-cash reconc…
For the three months ended March 31, 2025, we had net loss of $179,718, which primarily consisted of general and administrative costs of $179,908 and was partially offset by dividend income of $190. Net cash used in operating activities was $124,218, primarily driven by non-cash reconciling adjustme…
In order to support the Company’s working capital requirements, in addition to the Working Capital Loans, in February 2026, we entered into two unsecured promissory notes with Soulpower Management LLC (the “Lender”), the sole managing member of the Sponsor.
We do not have any long-term debt, capital lease obligations, operating lease obligations or long-term liabilities, other than an agreement to pay an aggregate of $5,000 per month for office space, utilities, and secretarial and administrative support.
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