HCMA — what changed in the latest 10-Q
A section-by-section comparison of HCMA'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 · 2026-05-14 vs the prior 10-Q · 2025-11-14
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +2 | −2 | ~11 | 6 |
| Controls & procedures | Text added/removed | +1 | −1 | 0 | 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 · 2026-05-14
For the three months ended March 31, 2026, we had a net income of $1,724,603, which consists of interest earned on marketable securities held in Trust Account of $2,103,365 and interest earned on cash equivalents of $8,511, offset by general and administrative costs of $387,273.
Until the consummation of the Initial Public Offering, our only source of liquidity was an initial purchase of shares of Class B Ordinary Shares, par value $0.0001 per share, by the Sponsor and loans from the Sponsor.
Text removed vs the prior filing · source: 10-Q · 2025-11-14
For the three months ended September 30, 2025, we had a net income of $390,364, which consists of advisory fee reimbursable income of $440,000, interest earned on marketable securities held in Trust Account of $1,727,160 and interest earned on marketable securities held in Bank Account of $3,041, of…
For the period from April 15, 2025 (inception) through September 30, 2025, we had a net income of $342,819, which consists of advisory fee reimbursable income of $440,000, interest earned on marketable securities held in Trust Account of $1,727,160 and interest earned on marketable securities held i…
Controls & procedures
Text added vs the prior filing · source: 10-Q · 2026-05-14
As required by Rules 13a-15 and 15d-15 under the Exchange Act, our Chief Executive Officer and Chief Financial Officer carried out an evaluation of the effectiveness of the design and operation of our disclosure controls and procedures as of March 31, 2026. Based upon their evaluation, our Chief Exe…
Text removed vs the prior filing · source: 10-Q · 2025-11-14
Under the supervision and with the participation of our Management, including our Certifying Officers, we carried out an evaluation of the effectiveness of the design and operation of our disclosure controls and procedures as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act. Based on …
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