ZPTAW — what changed in the latest 10-Q
A section-by-section comparison of ZPTAW'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 · 2026-05-15 vs the prior 10-Q · 2025-12-09
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +74 | −278 | ~19 | 34 |
| Market risk (Item 3) | Text added/removed | +74 | −278 | ~18 | 34 |
| Controls & procedures | Text added/removed | +74 | −278 | ~18 | 34 |
| Legal proceedings | Text added/removed | +74 | −278 | ~18 | 34 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
| Other information | Text added/removed | +74 | −278 | ~17 | 34 |
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 · 2026-05-15
Convertible promissory notes, current ($300 to related parties) 3,227 3,133
Convertible preferred stock (Series C), $0.0001 par value; 23,000 shares authorized; 11,983 and 11,983 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively — —
Net loss per share attributable to common stockholders, basic and diluted $(0.01) $(0.02)
Weighted-average common shares outstanding, basic and diluted 172,318,506 42,482,376
Prepaid expenses and other current and non-current assets 51 94
Text removed vs the prior filing · source: 10-Q · 2025-12-09
Liabilities, Convertible Preferred Stock and Stockholders’ Deficit
Total liabilities, convertible preferred stock and stockholders’ deficit $3,301 $2,733
Three Months Ended September 30, Nine Months Ended September 30,
Loss on issuance of forward purchase agreement derivative liability — — — (4,935)
Change in fair value of forward purchase agreement derivative liability — 11,376 — 3,148
Market risk (Item 3)
Text added vs the prior filing · source: 10-Q · 2026-05-15
Convertible promissory notes, current ($300 to related parties) 3,227 3,133
Convertible preferred stock (Series C), $0.0001 par value; 23,000 shares authorized; 11,983 and 11,983 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively — —
Net loss per share attributable to common stockholders, basic and diluted $(0.01) $(0.02)
Weighted-average common shares outstanding, basic and diluted 172,318,506 42,482,376
Prepaid expenses and other current and non-current assets 51 94
Text removed vs the prior filing · source: 10-Q · 2025-12-09
Liabilities, Convertible Preferred Stock and Stockholders’ Deficit
Total liabilities, convertible preferred stock and stockholders’ deficit $3,301 $2,733
Three Months Ended September 30, Nine Months Ended September 30,
Loss on issuance of forward purchase agreement derivative liability — — — (4,935)
Change in fair value of forward purchase agreement derivative liability — 11,376 — 3,148
Controls & procedures
Text added vs the prior filing · source: 10-Q · 2026-05-15
Convertible promissory notes, current ($300 to related parties) 3,227 3,133
Convertible preferred stock (Series C), $0.0001 par value; 23,000 shares authorized; 11,983 and 11,983 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively — —
Net loss per share attributable to common stockholders, basic and diluted $(0.01) $(0.02)
Weighted-average common shares outstanding, basic and diluted 172,318,506 42,482,376
Prepaid expenses and other current and non-current assets 51 94
Text removed vs the prior filing · source: 10-Q · 2025-12-09
Liabilities, Convertible Preferred Stock and Stockholders’ Deficit
Total liabilities, convertible preferred stock and stockholders’ deficit $3,301 $2,733
Three Months Ended September 30, Nine Months Ended September 30,
Loss on issuance of forward purchase agreement derivative liability — — — (4,935)
Change in fair value of forward purchase agreement derivative liability — 11,376 — 3,148
Legal proceedings
Text added vs the prior filing · source: 10-Q · 2026-05-15
Convertible promissory notes, current ($300 to related parties) 3,227 3,133
Convertible preferred stock (Series C), $0.0001 par value; 23,000 shares authorized; 11,983 and 11,983 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively — —
Net loss per share attributable to common stockholders, basic and diluted $(0.01) $(0.02)
Weighted-average common shares outstanding, basic and diluted 172,318,506 42,482,376
Prepaid expenses and other current and non-current assets 51 94
Text removed vs the prior filing · source: 10-Q · 2025-12-09
Liabilities, Convertible Preferred Stock and Stockholders’ Deficit
Total liabilities, convertible preferred stock and stockholders’ deficit $3,301 $2,733
Three Months Ended September 30, Nine Months Ended September 30,
Loss on issuance of forward purchase agreement derivative liability — — — (4,935)
Change in fair value of forward purchase agreement derivative liability — 11,376 — 3,148
Other information
Text added vs the prior filing · source: 10-Q · 2026-05-15
Convertible promissory notes, current ($300 to related parties) 3,227 3,133
Convertible preferred stock (Series C), $0.0001 par value; 23,000 shares authorized; 11,983 and 11,983 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively — —
Net loss per share attributable to common stockholders, basic and diluted $(0.01) $(0.02)
Weighted-average common shares outstanding, basic and diluted 172,318,506 42,482,376
Prepaid expenses and other current and non-current assets 51 94
Text removed vs the prior filing · source: 10-Q · 2025-12-09
Liabilities, Convertible Preferred Stock and Stockholders’ Deficit
Total liabilities, convertible preferred stock and stockholders’ deficit $3,301 $2,733
Three Months Ended September 30, Nine Months Ended September 30,
Loss on issuance of forward purchase agreement derivative liability — — — (4,935)
Change in fair value of forward purchase agreement derivative liability — 11,376 — 3,148
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