BTCY — what changed in the latest 10-K
A section-by-section comparison of BTCY'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-K · 2026-07-14 vs the prior 10-K · 2025-07-15
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| Business | Text added/removed | +1 | −1 | ~6 | 124 |
| Risk factors | Text added/removed | 0 | 0 | ~7 | 182 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 2 |
| MD&A | Text added/removed | +15 | −18 | ~33 | 61 |
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): Market risk (Item 7A)
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
Business
Text added vs the prior filing · source: 10-K · 2026-07-14
We incurred research and development costs of $2.7 million for the fiscal year ended March 31, 2026 and $2.2 million for the fiscal year ended March 31, 2025.
Text removed vs the prior filing · source: 10-K · 2025-07-15
We incurred research and development costs of $2.2 million for the fiscal year ended March 31, 2025 and $2.6 million for the fiscal year ended March 31, 2024.
MD&A
Text added vs the prior filing · source: 10-K · 2026-07-14
(2) These items relate to financing transactions and therefore do not reflect the Company’s core operating activities
(3) Certain amounts presented in the prior year period have been reclassified to conform to current period presentation.
As a result of the foregoing, the net loss attributable to common stockholders for the fiscal year ended March 31, 2026 was $3.13 million compared to a net loss of $11.9 million during the fiscal year ended March 31, 2025.
Translation adjustment for the fiscal year ended March 31, 2026 was a loss of $34 thousand compared to a gain of $113 thousand for the fiscal year ended March 31, 2025. Translation adjustment was a gain of $8 thousand for the three months ended March 31, 2026, compared to a gain of $142 thousand for…
Management has previously noted the existence of substantial doubt about our ability to continue as a going concern. Additionally, our independent registered public accounting firm included an explanatory paragraph in the report on our financial statements as of and for the years ended March 31, 202…
Text removed vs the prior filing · source: 10-K · 2025-07-15
Gain (loss) upon convertible promissory notes conversion and redemption (3)
(1) Share based compensation is a non-cash item therefore is removed from our adjusted EBITDA analysis
(2) Preferred stock dividend payment is at Company’s discretion and therefore is removed from our adjusted EBITDA analysis
(3) These items relate to financing transactions and therefore do not reflect the Company’s core operating activities
(4) Certain amounts presented in the prior year period have been reclassified to conform to current period presentation.
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