QCLS — what changed in the latest 10-Q
A section-by-section comparison of QCLS'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 · 2026-08-12 vs the prior 10-Q · 2026-05-15
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +38 | −19 | ~31 | 55 |
| Controls & procedures | Text added/removed | 0 | 0 | ~1 | 1 |
| Legal proceedings | Text added/removed | 0 | 0 | ~1 | 0 |
| Risk factors | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Other information | Text added/removed | +7 | 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): Market risk (Item 3)
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 · 2026-08-12
QCLS is engaged in the development of a proprietary silicon photonic computing architecture for artificial intelligence (“AI”) inference. The Company focuses its efforts on its optical processing unit initiative (the “OPU Initiative”). The OPU Initiative is focused on developing next-generation opti…
Stock-based compensation increased $2,268,801 or 2,163%, during the three months ended June 30, 2026, as compared to the three months ended June 30, 2025. The increase is primarily a result of the stock options issued during the second quarter to the Board of Directors, which had immediate vesting. …
The table below summarizes our research and development expenses for the three months ended June 30, 2026 and 2025:
Salaries and wages increased $60,588 or 101%, during the three months ended June 30, 2026, compared to the three months ended June 30, 2025. During the three months ended June 30, 2025, the Company recorded payroll and severance expenses for one employee. During the three months ended June 30, 2026,…
Development program costs include those associated with pre-clinical development, clinical trials and other material and development programs for the three months ended June 30, 2025. Costs decreased $621,098, or 91%, during the three months ended June 30, 2026, compared to the three months ended Ju…
Text removed vs the prior filing · source: 10-Q · 2026-05-15
QCLS has historically been engaged in the development and commercialization of two therapeutic platforms based on well-defined targets: Isomyosamine and Supera-CBD. Recently, the Company has shifted its business strategy to focus on energy-efficient blockchain and cryptocurrency infrastructure throu…
The Company is evaluating the potential divestiture of Isomyosamine and Supera-CBD to fund its new strategic focus, with the objective of creating long-term stockholder value.
Stock-based compensation decreased $26,030, or 31%, during the three months ended March 31, 2026, as compared to the three months ended March 31, 2025. All of the stock options issued on June 7, 2023 fully vested during June 2025.
Franchise taxes for the state of Delaware totaled $219,403 and $0 for the three months ended March 31, 2026 and 2025, respectively. The increase is related to the franchise tax for 2025 that was paid late and is reflected in the condensed consolidated financial statements as of September 30, 2025.
The table below summarizes our research and development expenses for the three months ended March 31, 2026 and 2025:
Other information
Text added vs the prior filing · source: 10-Q · 2026-08-12
On August 11, 2026, the Board terminated Ian Rhodes from his role as the Company’s Interim Chief Financial Officer, effective as of August 11, 2026.
On August 11, 2026, the Board appointed Todd Fagan, age 56, to the position of Chief Financial Officer (Principal Financial Officer and Principal Accounting Officer) of the Company, effective August 11, 2026. Mr. Fagan has served as the Company’s Corporate Controller since March 2026 and, prior to t…
Mr. Fagan has more than 30 years of professional experience spanning financial reporting, technical accounting, auditing, risk management, and financial planning and analysis. Throughout his career, he has held finance leadership roles across a diverse range of organizations, from smaller, mid-marke…
From January 2025 until June 2026, as the Director of Technical Accounting and Reporting at Erickson Senior Living, Mr. Fagan was responsible for technical accounting, GAAP application, and financial reporting. From May 2023 until November 2024, Mr. Fagan served as Head of Accounting at Supernal, LL…
Mr. Fagan has been an actively licensed Certified Public Accountant (CPA) since 1995. He holds a Doctorate in Finance from Sacred Heart University, a Master of Business Administration from George Mason University, and a Bachelor of Business Administration with a major in Accounting from Loyola Unive…
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