BSFC — what changed in the latest 10-Q
A section-by-section comparison of BSFC'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 · 2026-07-16 vs the prior 10-Q · 2025-11-12
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +21 | −29 | ~14 | 20 |
| Market risk (Item 3) | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Controls & procedures | Text added/removed | 0 | 0 | ~1 | 8 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Other information | Text added/removed | 0 | 0 | ~1 | 10 |
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): 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 · 2026-07-16
We are an international seafood company that imports, packages and sells refrigerated pasteurized crab meat, and other premium seafood products. Our current source of revenue is from importing blue and red swimming crab meat primarily from South East Asia and distributing it in the United States and…
On March 4, 2026, the Company, through TOBC, filed a Notice of Application in the Supreme Court of British Columbia (the “Court”) in connection with a dispute with their landlords Steven Atkinson and Janet Atkinson (the “Landlords”) of the property located at 2930 Jameson Road, Nanaimo, B.C. V9R 6W8…
The Company, together with its subsidiaries, has initiated legal proceedings against an Indonesian seafood supplier, in the U.S. District Court for the Southern District of Florida. The complaint alleges breach of contract, violation of the Florida Deceptive and Unfair Trade Practices Act, and unjus…
Gross Profit. Gross profit for the three months ended March 31, 2026 decreased to $8,747 as compared to $91,644 in the three months March 31, 2025. This decrease is due to the adjustment to inventory allowance recorded during the three months ended March 31, 2026 compared to the three months ended M…
Salaries and Wages Expense. Salaries and wages expense decreased to $182,877 for the three months ended March 31, 2026 as compared to $270,284 for the three months ended March 31, 2025. This decrease is mainly attributable to a reduction in the number of employees as of March 31, 2026.
Text removed vs the prior filing · source: 10-Q · 2025-11-12
Looking ahead, the Company plans to focus on strengthening its position in the premium seafood market by improving supply chain efficiency, expanding distribution channels, and managing costs to enhance profitability. Management expects continued demand for pasteurized crab meat and other specialty …
On June 2, 2025, Miozotis Ponce, the Company’s Operating Officer, notified the Company of her resignation as Chief Operating Officer, effective June 30, 2025.
Gross Profit. Gross profit for the three months ended September 30, 2025 increased to $427,816 as compared to gross loss of $291,337 in the three months ended September 30, 2024. This increase is attributable to the increase in sales and decrease in cost.
Commissions Expense. Commissions expense increased to $425 for the three months ended September 30, 2025 from $0 for the three months ended September 30, 2024. This increase was due to commissionable revenues for the three months ended September 30, 2024.
Salaries and Wages Expense. Salaries and wages expense decreased to $239,299 for the three months ended September 30, 2025 as compared to $268,530 for the three months ended September 30, 2024. This decrease is mainly attributable to the decrease in gross wages.
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