JWSMF — what changed in the latest 10-Q
A section-by-section comparison of JWSMF'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 · 2026-08-11 vs the prior 10-Q · 2026-05-13
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +10 | −6 | ~15 | 20 |
| Market risk (Item 3) | Text added/removed | +1 | −1 | 0 | 0 |
| Controls & procedures | Text added/removed | 0 | 0 | ~1 | 2 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
| Other information | Text added/removed | 0 | 0 | ~1 | 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): Legal proceedings
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 · 2026-08-11
For the three months ended June 30, 2026, we had a net income of $268,330, which consisted of interest earned on cash held in Trust Account of $5,153 and change in fair value of warrant liabilities of $ 372,250, partially offset by general and administrative expenses of $109,073.
For the three months ended June 30, 2025, we had a net income of $240,199, which consisted of interest earned on cash held in Trust Account of $6,945 and change in fair value of warrant liabilities of $372,250, partially offset by general and administrative expenses of $138,996.
For the six months ended June 30, 2026, we had a net income of $537,756, which consisted of interest earned on cash held in Trust Account of $11,142 and change in fair value of warrant liabilities of $744,500, partially offset by general and administrative expenses of $217,886.
For the six months ended June 30, 2025, we had a net loss of $267,778, which consisted of general and administrative expenses of $281,547, partially offset by interest earned on cash held in Trust Account of $13,769.
On March 13, 2024, we issued a promissory note (the “March 2024 Note”) to our sponsor. The March 2024 Note provides up to $500,000 for withdrawal and does not incur interest. We borrowed $125,000 on March 14, 2024 and an additional $235,000 on March
Text removed vs the prior filing · source: 10-Q · 2026-05-13
For the three months ended March 31, 2026, we had a net income of $269,426, which consisted of change in fair value warrant liability of $372,250, general and administrative expenses of $108,814, partially offset by interest earned on cash held in Trust Account of $5,990.
For the three months ended March 31, 2025, we had a net loss of $507,977, which consisted of change in fair value of warrant liabilities of $372,250 and general and administrative expenses of $142,551 partially offset by interest earned on cash held in the Trust Account of $6,824.
On March 13, 2024, we issued a promissory note (the “March 2024 Note”) to our sponsor. The March 2024 Note provides up to $500,000 for withdrawal and does not incur interest. We borrowed $125,000 on March 14, 2024 and an additional $235,000 on March 28, 2024. The March 2024 Note is due upon the earl…
On October 31, 2024, we issued a promissory note (the “October 2024 Note”) to Starwood Capital Group Management, L.L.C. The October 2024 Note provides up to $400,000 for withdrawal and does not incur interest. We borrowed $400,000 on October 31, 2024. The October 2024 Note is due upon the earlier of…
On July 11, 2025, we issued a promissory note to our sponsor in the principal amount of $150,000 (the “July 11th Note”). The July 11th Note is non-interest bearing and due upon the completion of a business combination. In the event that we do not consummate a Business Combination, the July 11th Note…
Market risk (Item 3)
Text added vs the prior filing · source: 10-Q · 2026-08-11
As of June 30, 2026, we were not subject to any market or interest rate risk. The funds in the Trust Account are currently maintained in cash in an interest - bearing demand deposit account at a bank until the earlier of the completion of the Business Combination and our liquidation. Interest on suc…
Text removed vs the prior filing · source: 10-Q · 2026-05-13
As of March 31, 2026, we were not subject to any market or interest rate risk. Following the consummation of our initial public offering, the net proceeds of our initial public offering, including amounts in the trust account, have been invested in certain U.S. government securities with a maturity …
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