GBR — what changed in the latest 10-Q
A section-by-section comparison of GBR'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 · 2026-05-07 vs the prior 10-Q · 2025-11-12
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +1 | −7 | ~7 | 4 |
| Market risk (Item 3) | Text added/removed | +2 | −1 | 0 | 0 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 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, Risk factors, 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 · 2026-05-07
At March 31, 2026, the Company had current assets of $380,000 and current liabilities of $64,000. At December 31, 2025, the Company had current assets of $396,000 and current liabilities of $69,000.
Text removed vs the prior filing · source: 10-Q · 2025-11-12
At September 30, 2025, the Company had current assets of $334,000 and current liabilities of $63,000.
For the three months ended September 30, 2025 interest income was $43,000 as compared to $52,000 for the comparable period in 2024. The reduction in interest was do to lower interest rates.
Comparison of the nine months ended September 30, 2025 to the same period in 2024
The Company reported a net loss of $58,000 for nine months ended September 30, 2024, as compared to net income of $1,000 for the similar period in 2024.
For the nine months ended September 30, 2025 the Company had revenue of $117,000 including $78,000 for rental revenue and $39,000 for management fees as compared to revenue of $110,000 including $76,000 for rental revenue and $34,000 for management fees for the comparative period in 2024.
Market risk (Item 3)
Text added vs the prior filing · source: 10-Q · 2026-05-07
The Company has a note receivable which has a variable interest rate.
The Company has extinguished all its outstanding debt obligations that bare interest therefore; the Company has no risk from exposure to changes in interest rates from debt obligations.
Text removed vs the prior filing · source: 10-Q · 2025-11-12
The Company has extinguished all its outstanding debt therefore; the Company has minimal risk from exposure to changes in interest rates.
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