NHTC — what changed in the latest 10-Q
A section-by-section comparison of NHTC'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 · 2026-10-28 vs the prior 10-Q · 2026-07-29
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +2 | −2 | ~19 | 24 |
| Market risk (Item 3) | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 0 |
| Risk factors | Some risk factors updated | +8 | 0 | ~1 | 12 |
| 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 · 2026-10-28
Net sales were $7.6 million for the three months ended September 30, 2026 compared with $9.5 million for the comparable period a year ago, a decrease of $1.9 million, or 20%. Hong Kong net sales, substantially all of which were derived from the sale of products shipped to members residing in China, …
Commissions were 35.9% of net sales for the three months ended September 30, 2026 compared with 40.9% of net sales for the three months ended September 30, 2025. Commissions were 39.7% of net sales for the nine months ended September 30, 2026 compared with 41.2% of net sales for the nine months ende…
Text removed vs the prior filing · source: 10-Q · 2026-07-29
Net sales were $7.6 million for the three months ended June 30, 2026 compared with $9.8 million for the comparable period a year ago, a decrease of $2.2 million, or 23%. Hong Kong net sales, substantially all of which were derived from the sale of products shipped to members residing in China, decre…
Commissions were 40.9% of net sales for each of the three months ended June 30, 2026 and 2025. Commissions were 41.4% of net sales for each of the six months ended June 30, 2026 and 2025. Despite lower weekly commissions earned by our members during the first six months of 2026 as compared to the co…
Risk factors
Text added vs the prior filing · source: 10-Q · 2026-10-28
Although virtually all of our members are independent contractors, improper member actions that violate laws, regulations or our internal policies could harm our business.
Virtually all of our members are independent contractors and, accordingly, we are not in a position to directly provide the same direction, motivation and oversight as we would if these members were our own employees. As a result, there can be no assurance that our members will participate in our ma…
Given the size and diversity of our member force, we experience problems with members from time to time, especially with respect to our members in foreign markets. For example, if our members engage in illegal activities in China, those actions could be attributed to us. Chinese laws regarding how a…
Our code of conduct and other policies and procedures set standards of conduct that sales leaders and other members are expected to follow. Among other things, the code of conduct contains non-competition and non-solicitation provisions designed to prevent members from using our proprietary informat…
In addition, members often desire to enter a market before we have received approval to do business in order to gain an advantage in the marketplace. Improper member activity in new geographic markets could result in adverse publicity and can be particularly harmful to our ability to ultimately ente…
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