NTCS — what changed in the latest 10-K
A section-by-section comparison of NTCS'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-K · 2026-06-09 vs the prior 10-K · 2025-06-06
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| Business | Text added/removed | 0 | 0 | ~1 | 7 |
| Risk factors | Text added/removed | 0 | 0 | ~1 | 7 |
| Legal proceedings | Text added/removed | 0 | 0 | ~1 | 7 |
| MD&A | Text added/removed | +2 | −2 | ~6 | 7 |
| Market risk (Item 7A) | Text added/removed | 0 | 0 | ~1 | 4 |
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-K · 2026-06-09
Expenses incurred were $54,759 during fiscal year ended April 30, 2026 compared to $57,249 during fiscal year ended April 30, 2025.
We have not generated positive cash flows from operating activities. For the fiscal year ended April 30, 2026, net cash flows used in operating activities was $22,859. For the fiscal year ended April 30, 2025, net cash flows used in operating activities was $36,749.
Text removed vs the prior filing · source: 10-K · 2025-06-06
Expenses incurred were $57,249 during fiscal year ended April 30, 2025 compared to $34,080 during fiscal year ended April 30, 2024.
We have not generated positive cash flows from operating activities. For the fiscal year ended April 30, 2025, net cash flows used in operating activities was $36,749. For the fiscal year ended April 30, 2024, net cash flows used in operating activities was $7,860.
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