SNFI — what changed in the latest 10-Q
A section-by-section comparison of SNFI'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 · 2026-08-14 vs the prior 10-Q · 2026-05-15
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +8 | −3 | ~12 | 9 |
| Market risk (Item 3) | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 2 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
| Other information | Text added/removed | +1 | −2 | 0 | 0 |
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-Q · 2026-08-14
Results of Operations for the six months ended June 30, 2026 and 2025
Net loss attributable to common shareholders $(2,718) $(1,901)
Selling, general, and administrative expenses (“SG&A”) decreased by $0.6 million to $3.0 million for the six months ended June 30, 2026 compared to $3.6 million for the six months ended June 30, 2025.
SG&A for the six months ended June 30, 2026 and 2025 consisted of personnel and professional fees and was lower than last year mainly due to lower legal and professional fees as the bankruptcy claims payment and resolution process is winding down.
Legal settlement and litigation benefit, net decreased by $0.7 million to $0.8 million for the six months ended June 30, 2026 compared to $1.5 million for the six months ended June 30, 2025. This represents adjustments to accrued liabilities subject to compromise from claims as a result of the final…
Text removed vs the prior filing · source: 10-Q · 2026-05-15
The Company had cash and cash equivalents of approximately $25.1 million, short-term investments of $7.3 million and restricted short-term investments of approximately $2.6 million, an accumulated deficit of $1.2 billion at March 31, 2026, and a net loss of $0.1 million for the three months ended Ma…
Net cash used in operating activities increased by $0.8 million to $2.6 million for the three months ended March 31, 2026 compared to $1.8 million for the three months ended March 31, 2025. The $2.6 million of cash used in operating activities for the three months ended March 31, 2026 was comprised …
Net cash used in investing activities was $6.7 million for the three months ended March 31, 2026, which was due to our issuance of loans receivable of $6.6 million as well the purchase of $2.5 million of short-term investments, partially offset by $2.4 million related to maturities of short-term inv…
Other information
Text added vs the prior filing · source: 10-Q · 2026-08-14
(c) During the quarter ended June 30, 2026, none of our directors or officers adopted or terminated any “Rule 10b5-1 trading arrangement” or “non-Rule 10b5-1 trading arrangement,” (as each term is defined in Item 408(c) of Regulation S-K).
Text removed vs the prior filing · source: 10-Q · 2026-05-15
(a) Change in Shell Company Status. In connection with the filing of this Quarterly Report on Form 10-Q, the Company has determined that it is no longer a shell company as that term is defined in Rule 12b-2 of the Exchange Act as it now has more than nominal operations and assets, including among ot…
(c) During the quarter ended March 31, 2026, none of our directors or officers adopted or terminated any “Rule 10b5-1 trading arrangement” or “non-Rule 10b5-1 trading arrangement,” (as each term is defined in Item 408(c) of Regulation S-K).
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