GLGI — what changed in the latest 10-Q
A section-by-section comparison of GLGI'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 · 2026-10-15 vs the prior 10-Q · 2026-04-14
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +20 | −27 | ~11 | 8 |
| Controls & procedures | Text added/removed | +2 | −1 | ~2 | 2 |
| Other information | Text added/removed | 0 | 0 | ~2 | 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): Market risk (Item 3), 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 · 2026-10-15
During the three months ended August 31, 2026, total sales decreased $5,411,485, or 50%. Sales decreased primarily due to reductions of approximately $6,800,000 from the lost major customer. This was offset by additional miscellaneous fluctuations among other existing customers, specifically a relat…
Other income, generally from interest income and the sale of scrap material, was $3,269 and $5,119 for the three months ended August 31, 2026 and 2025, respectively.
Interest expense was $281,843 for the three months ended August 31, 2026, compared to $229,829 for the three months ended August 31, 2025, representing an increase of $52,014. This increase is due to the increased borrowing on the revolving loan with International Bank of Commerce at August 31, 2026…
The benefit (provision) for income taxes was $(398,140) and $350,672 for the three months ended August 31, 2026 and 2025, respectively. The significant change in provision primarily reflects an increase to the valuation allowance as management has determined that Greystone will not be able to realiz…
A summary of cash flows for the three months ended August 31, 2026, was as follows:
Text removed vs the prior filing · source: 10-Q · 2026-04-14
During fiscal year 2026, the Company lost a major customer. Based on historical sales to this customer, management expects a total loss of sales of approximately $30 million for fiscal year 2026. During the nine months ended February 28, 2026, total sales decreased $17,938,676, or 45%. Sales decreas…
During the nine months ended February 28, 2025, the Company and the insurer agreed on the amount of settlements on certain casualty losses occurring in fiscal years 2024 and 2023. The payments resulted in a gain of $741,821 recorded in the first quarter of fiscal year 2025, this did not reoccur in f…
Other income, generally from interest income and the sale of scrap material, was $12,400 and $115,956 for the nine months ended February 28, 2026 and 2025, respectively.
Interest expense was $712,473 for the nine months ended February 28, 2026, compared to $818,786 for the nine months ended February 28, 2025, representing a decrease of $106,313. This decrease is due to the continuing payments on the principal of outstanding debt as well as reductions in the prime ra…
The benefit (provision) for income taxes was $313,172 and $(407,770) for the nine months ended February 28, 2026 and 2025, respectively. The significant change in provision primarily reflects a shift from taxable income in 2025 to a pretax loss in 2026. As a result, the current year provision reflec…
Controls & procedures
Text added vs the prior filing · source: 10-Q · 2026-10-15
The Company has not properly identified or accounted for multiple significant equity transactions, requiring significant reclassifications to equity.
During the three months ended August 31, 2026, there were no changes in Greystone's internal control over financial reporting that have materially affected, or that are reasonably likely to materially affect Greystone's internal control over financial reporting.
Text removed vs the prior filing · source: 10-Q · 2026-04-14
During the nine months ended February 28, 2026, there were no changes in Greystone's internal control over financial reporting that have materially affected, or that are reasonably likely to materially affect Greystone's internal control over financial reporting.
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