SBXD — what changed in the latest 10-Q
A section-by-section comparison of SBXD'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 · 2025-11-12
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +8 | −13 | ~14 | 5 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 1 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
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), 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 · 2026-05-15
For the three months ended March 31, 2025, cash used in operating activities was $198,031. Net income of $1,930,794 was affected by interest earned on investments held in the Trust Account of $2,115,427. Changes in operating assets and liabilities used $13,398 of cash for operating activities.
In connection with our assessment of going concern considerations in accordance with ASC 205-40, “Going Concern,” as of March 31, 2026, we may need to raise additional capital through loans or additional investments from its Sponsor, shareholders, officers, directors, or third parties. Our officers,…
Additionally, if a Business Combination is not consummated by the end of the Combination Period, currently August 19, 2026, there will be a mandatory liquidation and our subsequent dissolution. No adjustments have been made to the carrying amounts of assets or liabilities should we be required to li…
We have no obligations, assets or liabilities, which would be considered off-balance sheet arrangements as of March 31, 2026. We do not participate in transactions that create relationships with unconsolidated entities or financial partnerships, often referred to as variable interest entities, which…
The preparation of the unaudited condensed financial statements and related disclosures in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclo…
Text removed vs the prior filing · source: 10-Q · 2025-11-12
For the three months ended September 30, 2024, we had a net income $1,382,148, which consisted of change in fair value of over-allotment option liability of $306,504 and interest earned on investments held in Trust Account of $1,266,313, offset by general and administrative costs of $190,669.
For the period from April 16, 2024 (inception) through September 30, 2024, we had a net income $1,358,488, which consisted of change in fair value of over-allotment option liability of $306,504 and interest earned on investments held in Trust Account of $1,266,313, offset by general and administrati…
For the period from April 16, 2024 (inception) through September 30, 2024, cash used in operating activities was $314,085. Net income of $1,358,488 was affected by interest earned on investments held in the Trust Account of $1,266,313, formation costs paid by Sponsor in exchange for issuance of Clas…
post-Business Combination entity at a price of $10.00 per unit. The units and the underlying securities would be identical to the Private Placement Units and the underlying securities of such Private Placement Units.
In connection with the Company’s assessment of going concern considerations in accordance with ASC 205-40, “Going Concern,” as of September 30, 2025, the Company may need to raise additional capital through loans or additional investments from its Sponsor, shareholders, officers, directors, or third…
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