LCTC — what changed in the latest 10-Q
A section-by-section comparison of LCTC'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 · 2026-08-14 vs the prior 10-Q · 2026-05-14
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +23 | −12 | ~35 | 85 |
| Market risk (Item 3) | Text added/removed | +23 | −12 | ~34 | 85 |
| Controls & procedures | Text added/removed | +23 | −12 | ~34 | 85 |
| Legal proceedings | Text added/removed | +23 | −12 | ~34 | 85 |
| Risk factors | Some risk factors updated | +23 | −12 | ~34 | 85 |
| Other information | Text added/removed | +23 | −12 | ~33 | 85 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
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 · 2026-08-14
TERM LOAN PAYABLE (Related Party), net of current portion and debt issuance costs 460,922 —
SUBORDINATED DEBENTURES PAYABLE, net of current portion and debt issuance costs 662,901 681,343
The accompanying notes to the condensed financial statements are an integral part of these condensed financial statements.
Research, development, and sustaining engineering 974,726 1,092,942
Purchases of research and development equipment, software and space modifications not in service — (219,441)
Text removed vs the prior filing · source: 10-Q · 2026-05-14
SUBORDINATED DEBENTURES PAYABLE, net of current portion and debt issuance costs 672,274 681,343
Principal payments made on subordinated debentures (13,432) —
Revenues arising from extended warranty contracts are booked as sales over their life on a straight-line basis. We have discontinued arranging for customer financing and leasing through unrelated third parties and instead are providing for customer financing and leasing ourselves, which we recognize…
Employee Severance Benefits. Our obligation with respect to employee severance benefits is minimized by the “at will” nature of the employee relationships. As of March 31, 2026, we had no obligation with respect to contingent severance benefit obligations other than the Company’s obligations under t…
Contractual Commitments and Purchase Orders. Contractual commitments under development agreements and outstanding purchase orders issued to vendors in the ordinary course of business totaled $1,897,421 at March 31, 2026.
Market risk (Item 3)
Text added vs the prior filing · source: 10-Q · 2026-08-14
TERM LOAN PAYABLE (Related Party), net of current portion and debt issuance costs 460,922 —
SUBORDINATED DEBENTURES PAYABLE, net of current portion and debt issuance costs 662,901 681,343
The accompanying notes to the condensed financial statements are an integral part of these condensed financial statements.
Research, development, and sustaining engineering 974,726 1,092,942
Purchases of research and development equipment, software and space modifications not in service — (219,441)
Text removed vs the prior filing · source: 10-Q · 2026-05-14
SUBORDINATED DEBENTURES PAYABLE, net of current portion and debt issuance costs 672,274 681,343
Principal payments made on subordinated debentures (13,432) —
Revenues arising from extended warranty contracts are booked as sales over their life on a straight-line basis. We have discontinued arranging for customer financing and leasing through unrelated third parties and instead are providing for customer financing and leasing ourselves, which we recognize…
Employee Severance Benefits. Our obligation with respect to employee severance benefits is minimized by the “at will” nature of the employee relationships. As of March 31, 2026, we had no obligation with respect to contingent severance benefit obligations other than the Company’s obligations under t…
Contractual Commitments and Purchase Orders. Contractual commitments under development agreements and outstanding purchase orders issued to vendors in the ordinary course of business totaled $1,897,421 at March 31, 2026.
Controls & procedures
Text added vs the prior filing · source: 10-Q · 2026-08-14
TERM LOAN PAYABLE (Related Party), net of current portion and debt issuance costs 460,922 —
SUBORDINATED DEBENTURES PAYABLE, net of current portion and debt issuance costs 662,901 681,343
The accompanying notes to the condensed financial statements are an integral part of these condensed financial statements.
Research, development, and sustaining engineering 974,726 1,092,942
Purchases of research and development equipment, software and space modifications not in service — (219,441)
Text removed vs the prior filing · source: 10-Q · 2026-05-14
SUBORDINATED DEBENTURES PAYABLE, net of current portion and debt issuance costs 672,274 681,343
Principal payments made on subordinated debentures (13,432) —
Revenues arising from extended warranty contracts are booked as sales over their life on a straight-line basis. We have discontinued arranging for customer financing and leasing through unrelated third parties and instead are providing for customer financing and leasing ourselves, which we recognize…
Employee Severance Benefits. Our obligation with respect to employee severance benefits is minimized by the “at will” nature of the employee relationships. As of March 31, 2026, we had no obligation with respect to contingent severance benefit obligations other than the Company’s obligations under t…
Contractual Commitments and Purchase Orders. Contractual commitments under development agreements and outstanding purchase orders issued to vendors in the ordinary course of business totaled $1,897,421 at March 31, 2026.
Legal proceedings
Text added vs the prior filing · source: 10-Q · 2026-08-14
TERM LOAN PAYABLE (Related Party), net of current portion and debt issuance costs 460,922 —
SUBORDINATED DEBENTURES PAYABLE, net of current portion and debt issuance costs 662,901 681,343
The accompanying notes to the condensed financial statements are an integral part of these condensed financial statements.
Research, development, and sustaining engineering 974,726 1,092,942
Purchases of research and development equipment, software and space modifications not in service — (219,441)
Text removed vs the prior filing · source: 10-Q · 2026-05-14
SUBORDINATED DEBENTURES PAYABLE, net of current portion and debt issuance costs 672,274 681,343
Principal payments made on subordinated debentures (13,432) —
Revenues arising from extended warranty contracts are booked as sales over their life on a straight-line basis. We have discontinued arranging for customer financing and leasing through unrelated third parties and instead are providing for customer financing and leasing ourselves, which we recognize…
Employee Severance Benefits. Our obligation with respect to employee severance benefits is minimized by the “at will” nature of the employee relationships. As of March 31, 2026, we had no obligation with respect to contingent severance benefit obligations other than the Company’s obligations under t…
Contractual Commitments and Purchase Orders. Contractual commitments under development agreements and outstanding purchase orders issued to vendors in the ordinary course of business totaled $1,897,421 at March 31, 2026.
Risk factors
Text added vs the prior filing · source: 10-Q · 2026-08-14
TERM LOAN PAYABLE (Related Party), net of current portion and debt issuance costs 460,922 —
SUBORDINATED DEBENTURES PAYABLE, net of current portion and debt issuance costs 662,901 681,343
The accompanying notes to the condensed financial statements are an integral part of these condensed financial statements.
Research, development, and sustaining engineering 974,726 1,092,942
Purchases of research and development equipment, software and space modifications not in service — (219,441)
Text removed vs the prior filing · source: 10-Q · 2026-05-14
SUBORDINATED DEBENTURES PAYABLE, net of current portion and debt issuance costs 672,274 681,343
Principal payments made on subordinated debentures (13,432) —
Revenues arising from extended warranty contracts are booked as sales over their life on a straight-line basis. We have discontinued arranging for customer financing and leasing through unrelated third parties and instead are providing for customer financing and leasing ourselves, which we recognize…
Employee Severance Benefits. Our obligation with respect to employee severance benefits is minimized by the “at will” nature of the employee relationships. As of March 31, 2026, we had no obligation with respect to contingent severance benefit obligations other than the Company’s obligations under t…
Contractual Commitments and Purchase Orders. Contractual commitments under development agreements and outstanding purchase orders issued to vendors in the ordinary course of business totaled $1,897,421 at March 31, 2026.
Other information
Text added vs the prior filing · source: 10-Q · 2026-08-14
TERM LOAN PAYABLE (Related Party), net of current portion and debt issuance costs 460,922 —
SUBORDINATED DEBENTURES PAYABLE, net of current portion and debt issuance costs 662,901 681,343
The accompanying notes to the condensed financial statements are an integral part of these condensed financial statements.
Research, development, and sustaining engineering 974,726 1,092,942
Purchases of research and development equipment, software and space modifications not in service — (219,441)
Text removed vs the prior filing · source: 10-Q · 2026-05-14
SUBORDINATED DEBENTURES PAYABLE, net of current portion and debt issuance costs 672,274 681,343
Principal payments made on subordinated debentures (13,432) —
Revenues arising from extended warranty contracts are booked as sales over their life on a straight-line basis. We have discontinued arranging for customer financing and leasing through unrelated third parties and instead are providing for customer financing and leasing ourselves, which we recognize…
Employee Severance Benefits. Our obligation with respect to employee severance benefits is minimized by the “at will” nature of the employee relationships. As of March 31, 2026, we had no obligation with respect to contingent severance benefit obligations other than the Company’s obligations under t…
Contractual Commitments and Purchase Orders. Contractual commitments under development agreements and outstanding purchase orders issued to vendors in the ordinary course of business totaled $1,897,421 at March 31, 2026.
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