CRAQU — what changed in the latest 10-Q
A section-by-section comparison of CRAQU'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 · 2025-11-13
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +5 | −5 | ~7 | 9 |
| Controls & procedures | Text added/removed | 0 | 0 | ~1 | 2 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
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 3), Legal proceedings, Other information
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
For the period from January 7, 2025 (inception) through March 31, 2025, we had a net loss $42,822, which consisted of general and administrative costs.
For the three months ended March 31, 2026, net cash used in operating activities was $134,643. Net income of $1,917,622 was affected by earnings on investments held in Trust Account of $2,041,625. Changes in operating assets and liabilities used $10,640 of cash from operating activities.
For the period from January 7, 2025 (inception) through March 31, 2025, net cash used in operating activities was $0. Net loss of $42,822 was affected by payment of expense through promissory note – related party of $15,420. Changes in operating assets and liabilities used $27,402 of cash from opera…
As of March 31, 2026, we had cash and investments held in the trust account of $237,675,190 consisting primarily of money market funds. We may withdraw earnings from the trust account to pay taxes, if any. We intend to use substantially all of the funds held in the trust account, including any amoun…
As of March 31, 2026, we had cash of $962,299. We intend to use the funds held outside the trust account primarily to identify and evaluate target businesses, perform business due diligence on prospective target businesses, travel to and from the offices, plants or similar locations of prospective t…
Text removed vs the prior filing · source: 10-Q · 2025-11-13
For the period from January 7, 2025 (inception) through September 30, 2025, we had a net income $2,896,189, which consisted of earnings on investments held in Trust Account of $3,324,664 and interest income from bank operating account of $16,655 offset by compensation expense of $132,300, bank servi…
For the period from January 7, 2025 (inception) through September 30, 2025, net cash used in operating activities was $389,039. Net income of $2,896,189 was affected by payment of expense through promissory note – related party of $36,220, earnings on investments held in Trust Account of $3,324,664 …
As of September 30, 2025, we had cash and investments held in the trust account of $233,324,664 consisting primarily of U.S. Treasury Bills. We may withdraw earnings from the trust account to pay taxes, if any. We intend to use substantially all of the funds held in the trust account, including any …
As of September 30, 2025, we had cash of $1,154,388. We intend to use the funds held outside the trust account primarily to identify and evaluate target businesses, perform business due diligence on prospective target businesses, travel to and from the offices, plants or similar locations of prospec…
At the date of the initial public offering, May 27, 2025, the fair value of the public rights was determined based on the market value of the associated public units, with a market adjustment which takes into account low market volatility, the likelihood of closing on a business combination and 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