PONO — what changed in the latest 10-Q
A section-by-section comparison of PONO'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 · 2026-08-11 vs the prior 10-Q · 2026-05-14
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +8 | −9 | ~3 | 13 |
| Market risk (Item 3) | Text added/removed | 0 | 0 | ~1 | 0 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 1 |
| Risk factors | Some risk factors updated | 0 | 0 | 0 | 5 |
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, 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 · 2026-08-11
For the period from January 2, 2026 (inception) through June 30, 2026, we had net income of $1,064,750, which consisted of income on investments held in the Trust Account of $1,239,046 and gain on remeasurement and expiration of over-allotment option liability of $135,000, offset by formation, gener…
For the period from January 2, 2026 (inception) through June 30, 2026, net cash used in operating activities was $369,936. Net income of $1,064,750 was adjusted by income earned on cash and marketable securities held in the trust account of $1,239,046, formation, general and administrative expenses …
As of June 30, 2026, we had cash and marketable securities of $121,239,046 held in the trust account. We intend to use substantially all of the funds held in the trust account, including any amounts representing interest earned on the trust account (less permitted withdrawals and deferred underwriti…
As of June 30, 2026, we had cash of $335,344 outside of the trust account. We intend to use the funds held outside the trust account primarily to identify and evaluate target businesses, perform business due diligence on prospective target businesses, travel to and from the offices, properties or si…
We may need to raise additional funds in order to meet the expenditures required for operating our business prior to our initial business combination. We expect to incur significant costs related to identifying a target business, undertaking in-depth due diligence and negotiating an initial business…
Text removed vs the prior filing · source: 10-Q · 2026-05-14
As of March 31, 2026, we had $484,421 in cash and cash equivalents held outside of the Trust Account and working capital of $423,139.
For the period from January 2, 2026 (inception) through March 31, 2026, net cash used in operating activities was $220,860. Net income of $42,061 was adjusted by income earned on cash and marketable securities held in the trust account of $175,323, formation, general and administrative expenses paid…
As of March 31, 2026, we had cash and marketable securities of $120,175,323 held in the trust account. We intend to use substantially all of the funds held in the trust account, including any amounts representing interest earned on the trust account (less permitted withdrawals and deferred underwrit…
As of March 31, 2026, we had cash of $484,421 outside of the trust account. We intend to use the funds held outside the trust account primarily to identify and evaluate target businesses, perform business due diligence on prospective target businesses, travel to and from the offices, properties or s…
We do not believe we will need to raise additional funds following the initial public offering in order to meet the expenditures requires for operating our business prior to our initial Business Combination. In order to fund working capital deficiencies or finance transaction costs in connection wit…
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