QSJC — what changed in the latest 10-Q
A section-by-section comparison of QSJC'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 · 2026-05-15 vs the prior 10-Q · 2025-11-14
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +21 | −38 | ~3 | 8 |
| Controls & procedures | Text added/removed | 0 | 0 | ~3 | 1 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Other information | Text added/removed | 0 | 0 | ~1 | 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): Market risk (Item 3), Risk factors
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 · 2026-05-15
We recognized no revenue for the three months ended March 31, 2026, representing a decrease of $144,733, or 100.0%, from the comparable period in 2025. The decrease was driven by a strategic shift in our business operations. Beginning in the second half of 2025, we reallocated resources from externa…
Cost of revenue was $0 for the three months ended March 31, 2026 compared to $105,221 for the three months ended March 31, 2025. Cost of revenue primarily comprises cost of products sold. The decrease in cost of revenue by $105,221 or 100.0% was commensurate with the absence of revenue generated dur…
We incurred a gross profit of $0 for the three months ended March 31, 2026, compared to gross profit of 39,512 for the three months ended March 31, 2025. Gross margin was not meaningful for the first quarter of 2026 due to the lack of recognized revenue, compared to a gross margin of 27.3% for the c…
General and administrative expenses constituted the primary component of our operating expenses for the three months ended March 31, 2026, and 2025, amounting to $151,933 and $155,106, respectively. The decrease of $3,173, or 2.0%, was primarily attributable to a reduction in audit fees.
We reported a net loss of $158,114 for the three months ended March 31, 2026 compared to a net loss of $122,207 for the three months ended March 31, 2025. This increase in net loss of $35,907 was primarily attributable to the absence of revenue generation for the quarter. As we strategically slowed …
Text removed vs the prior filing · source: 10-Q · 2025-11-14
We generated $52,198 in revenue for the three months ended September 30, 2025 compared to $145,764 for the three months ended September 30, 2024, representing decrease in revenue of $93,566 or 64.2% compared to the three months ended September 30, 2024. The decrease was mainly due to the decrease in…
Cost of revenue was $38,774 for the three months ended September 30, 2025 compared to $105,123 for the three months ended September 30, 2024. Cost of revenue mainly consists of the cost of products sold and labor costs. The decrease in cost of revenue by $66,349 or 63.1% was mainly due to an decreas…
Gross profit for the three months ended September 30, 2025 was $13,424 compared with $40,641 for the three months ended September 30, 2024. As a percentage of revenue, our gross margin decreased from a gross profit of 27.9% for the three months ended September 30, 2024 to a gross profit of 25.7% for…
By far the most significant component of our operating expenses for both the three months ended September 30, 2025 and 2024 was general and administrative expenses in the amount of $78,245 and $87,558, respectively. The decrease of $9,313 or 10.6% was mainly due to our success in maintaining our cos…
We reported a net loss of $71,696 for the three months ended September 30, 2025 compared to a net loss of $53,941 for the three months ended September 30, 2024. Although we operated at a loss, we expect to see a positive trend in our future results.
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