PCSV — what changed in the latest 10-K
A section-by-section comparison of PCSV'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 · 2026-06-26 vs the prior 10-K · 2025-06-30
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| Business | Text added/removed | +12 | −13 | ~15 | 38 |
| Risk factors | Text added/removed | 0 | 0 | ~1 | 8 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 1 |
| MD&A | Text added/removed | +24 | −21 | ~6 | 13 |
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 7A)
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
Business
Text added vs the prior filing · source: 10-K · 2026-06-26
On April 10, 2025, the Board of Directors announced that it had authorized a share repurchase program allowing the Company to repurchase up to 10 million shares (pre-reverse split) of its common stock over the next three (3) years. The post-reverse split amount of the share repurchase program is 833…
On September 15, 2025, the Company announced the appointment of Suzanne DeZego as its Chief Operating Officer.
On March 23, 2026, the Company filed a Definitive 14C Information Statement with the SEC (the “Definitive 14C”), announcing a Special Meeting of Shareholders to be held on April 20, 2026, to vote on a one (1) for 12 reverse stock split and reducing our 125,000,000 authorized shares of common stock t…
The share repurchase program announced on April 10, 2025, allows up to 833,334 shares to be repurchased. As of March 31, 2026, the Company has repurchased 481,561 shares under this program.
The Company specializes in creating experiential, hands-on, transitional kindergarten through 12th grade (TK-12) STEM (Science, Technology, Engineering, and Math) education products and curriculum. “STEM” is often abbreviated as STEAM – Science, Technology, Engineering, Arts, and Math – to include t…
Text removed vs the prior filing · source: 10-K · 2025-06-30
The Company specializes in creating experiential, hands-on, transitional kindergarten through 12th grade (TK-12) STEM (Science, Technology, Engineering, and Math) education products and curriculum. “STEM” is often abbreviated as STEAM – Science, Technology, Engineering, Arts, and Math – to include t…
With few exceptions, we can generally source materials from multiple vendors, although the pricing from different vendors varies considerably. Thus, supply problems that we experience generally do not impair our business from functioning. However, supply problems that cause us to procure from higher…
In response these challenging environments, we have raised prices on selected items every year to reset our margins back to desirable levels after price increases of inputs. Additionally, we buy in bulk to achieve better pricing, and have increased general inventory levels. While we purchase from nu…
During Fiscal Year 2025, we had four (4) major customers who each accounted for at least 5% of sales and who, when aggregated, accounted for 27.8% of sales. The details of sales from our major customers are below:
Customer A is a reseller. The sales from reseller customers represent the aggregation of many purchase orders each of these customers placed with us throughout the year. Our reseller customers place an order with us when their customer orders our product from them. This cycle recurs numerous times t…
MD&A
Text added vs the prior filing · source: 10-K · 2026-06-26
The course we take to accomplish this endeavor will depend on our experiences with these early initiatives.
We offer professional development training for instructors using our products, and typically charge a fee for this service, with the fee primarily covering our expenses. Management does not view this service as a profit center, but rather 1) a customer service component of our product that adds to i…
For the year ended March 31, 2026, our revenue was $6,349,761 compared to $7,421,228 for the year ended March 31, 2025. There were five (5) factors that negatively impacted our revenue in fiscal year 2026 versus that in fiscal year 2025.
1. Our reseller revenue was significantly less in fiscal year 2026 versus that of fiscal year 2025. For the year ended March 31, 2026, reseller revenue was $1.02 million versus $1.59 million for the year ended March 31, 2025.
2. Our Catapult order was less in fiscal year 2026 versus that of fiscal year 2025. Catapult administers summer programming in Missouri due to the state’s public funding of such programs. They experience annual fluctuations in their customer base, and they have moved to a just-in-time inventory syst…
Text removed vs the prior filing · source: 10-K · 2025-06-30
We offer professional development training for instructors using our products, and typically charge a fee for this service, with the fee primarily covering our expenses. Management does not view this service as a profit center, but rather as a customer service component of our product that adds to i…
For the year ended March 31, 2025, our revenue was $7,421,228 compared to $9,094,466 for the year ended March 31, 2024. There were five (5) factors that negatively impacted our revenue in fiscal year 2025 versus that in fiscal year 2024.
1. We did not win an Iowa STEM Scale-Up contract in fiscal year 2025 and reported no revenue from that customer. In fiscal year 2024, our revenue from our Iowa STEM Scale-Up contract was $823,143. In fiscal year 2023, our revenue from this customer was $467,457. We won a contract for fiscal year 202…
2. Our Catapult order was significantly less in fiscal year 2025 versus that of fiscal year 2024. Catapult administers summer programming in Missouri due to the state’s public funding of such programs. They experience annual fluctuations in their customer base, and they inventory our products over t…
4. The expiration of ESSER funds on September 30, 2024, eliminated a key funding stream for our products during the second half of our fiscal year.
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