TCRI — what changed in the latest 10-Q
A section-by-section comparison of TCRI'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 · 2026-10-27 vs the prior 10-Q · 2026-08-10
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +10 | −8 | ~9 | 23 |
| Market risk (Item 3) | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 1 |
| 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, 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 · 2026-10-27
As of September 30, 2026, the Company has incurred net operating losses (NOLs) and has not generated taxable income for the three, six and nine-month periods then ended. The Company’s deferred tax assets resulting from these NOLs and other temporary differences have been fully offset by a valuation …
Accordingly, no current or deferred income tax provision has been recorded in the accompanying condensed financial statements.
The Company has also evaluated its tax positions and determined that no material uncertain tax positions exist as of September 30, 2026, in accordance with the guidance under ASC 740-10.
The Tax Cuts and Jobs Act of 2017 (the “TCJA”), effective for tax years beginning after December 31, 2017, introduced significant changes to U.S. federal tax law, including reducing the federal corporate income tax rate from 35% to 21%. The Company has reflected the impact of the TCJA in its deferre…
For the nine months ended September 30, 2026 and 2025, professional and administrative expenses were $28,830 and $35,726, respectively. The decrease of $6,896 was primarily attributable to lower legal and professional fees incurred during the current period, including reduced costs associated with S…
Text removed vs the prior filing · source: 10-Q · 2026-08-10
H.R. 1 (the “Tax Reform Law”), effective for tax years beginning on or after January 1, 2018, except for certain provisions, resulting in significant changes to existing United States tax law, including various provisions that are expected to impact the Company. The Tax Reform Law reduced the federa…
For the six months ended June 30, 2026 and 2025, professional and administrative expenses were $17,506 and $24,163, respectively.
The decrease of $6,657 was primarily attributable to lower legal and professional fees incurred during the current period, including reduced costs associated with SEC filings, corporate governance, and other professional advisory services. In addition, the Company incurred lower administrative expen…
For the six months ended June 30, 2026 and 2025, professional expenses were $13,201 and $17,800, respectively. The decrease of $4,599 was primarily attributable to lower legal and professional fees incurred during the current period. During the prior-year period, the Company incurred higher legal co…
For the three months ended June 30, 2026 and 2025, professional and administrative expenses were $6,817 and $12,833, respectively. The decrease of $6,016 was primarily attributable to lower legal and professional fees incurred during the current quarter. During the corresponding period in 2025, the …
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