TRXA — what changed in the latest 10-Q
A section-by-section comparison of TRXA'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 · 2026-05-26 vs the prior 10-Q · 2026-02-23
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | 0 | −14 | ~11 | 14 |
| Market risk (Item 3) | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Controls & procedures | Text added/removed | +2 | −7 | ~2 | 6 |
| 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): 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 removed vs the prior filing · source: 10-Q · 2026-02-23
The Company faces critical legal and financial risks concerning its primary operational facility in Orofino, Idaho.
Notice of Default: A lender holding a first lien on the Orofino facility filed a notice of default and initiated foreclosure proceedings following a default on the related note payable.
Matured Note: A secured promissory note with an original principal balance of $267,555 matured on May 15, 2025, and remains unpaid.
Accrued Penalties: Due to the default, the outstanding balance has grown to approximately $325,000 as of December 31, 2025.
Late Charges and Interest: The default triggered a contractual interest rate hike to 18% per annum and a one-time 15% late charge ($40,133) added to the principal.
Controls & procedures
Text added vs the prior filing · source: 10-Q · 2026-05-26
Our Chief Executive Officer/Chief Financial Officer assessed the effectiveness of our internal control over financial reporting as of March 31, 2026. In making this assessment, management used the criteria set forth by the 1992 Committee of Sponsoring Organizations of the Treadway Commission (“2013 …
Based on our assessment, our Chief Executive Officer/Chief Financial Officer concluded that the Company’s disclosure controls and procedures were effective as of March 31, 2026.
Text removed vs the prior filing · source: 10-Q · 2026-02-23
Because of its inherent limitations, our internal control over financial reporting may not prevent or detect misstatements. Therefore, even those systems determined to be effective can provide only reasonable assurance with respect to financial statement preparation and presentation. Projections of …
Our Chief Executive Officer/Chief Financial Officer assessed the effectiveness of our internal control over financial reporting as of September 30, 2025. In making this assessment, management used the criteria set forth by the 1992 Committee of Sponsoring Organizations of the Treadway Commission (“2…
Based on our assessment, our Chief Executive Officer/Chief Financial Officer concluded that the Company’s disclosure controls and procedures were not effective as of December 31, 2025, based on those criteria, due to:
Segregation of Duties: The Company lacks proper segregation of functions with respect to its cash and disbursements due to limited staff.
Qualified Personnel: The Company has a shortage of accounting personnel with adequate public company experience, SEC reporting, and US GAAP
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