What changed in this filing

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Item 1. Financial Statements

2025-08-12 compared with 2025-05-13 · 233 added, 185 removed, 373 unchanged (53% of the section changed)

2 unchanged sentences

CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS

March 31, 2025

Life Sciences Corp.

June 30, 2025

Sciences Corp.

Consolidated Interim Balance Sheets

thousands, except share and per share amounts)

(in thousands,

except share and per share amounts)

and cash equivalents

8 unchanged sentences

and outstanding:

common shares (2024 - 84,795,517 )

common shares (September 30, 2024 - 84,795,517 )

paid-in capital

1 unchanged sentence

Liabilities and Stockholders’ Equity

See Accompanying Notes to Condensed Consolidated Interim Financial Statements

Accompanying Notes to Condensed Consolidated Interim Financial Statements

Anavex Life Sciences Corp.

Condensed Consolidated Interim Statements of Operations and Comprehensive Loss

(in thousands, except share and per share amounts)

Three months ended March 31,

Six months ended March 31,

Operating expenses

General and administrative

Condensed Consolidated Interim Statements

of Operations and Comprehensive Loss

(in thousands, except share and per

share amounts)

Three months ended June 30,

Nine months ended June 30,

administrative

Research and development

1 unchanged sentence

Operating loss

Other income (expense)

Research and development incentive income

income (expense)

Research and development

incentive income

Interest income, net

1 unchanged sentence

Total other income, net

Net loss and comprehensive loss

Net loss and comprehensive

Net Loss per share

2 unchanged sentences

Basic and diluted

See Accompanying Notes to Condensed Consolidated Interim Financial Statements

Accompanying Notes to Condensed Consolidated Interim Financial Statements

Anavex Life Sciences Corp.

Condensed Consolidated Interim Statements of Cash Flows

(in thousands, except share and per share amounts)

Six months ended March 31,

Cash Flows used in Operating Activities

Adjustments to reconcile net loss to net cash used in operations:

Condensed Consolidated Interim Statements

of Cash Flows

(in thousands, except share and per share

Nine months ended June 30,

Flows used in Operating Activities

Adjustments to reconcile

net loss to net cash used in operations:

Gain on settlement of accounts

Share based compensation

Changes in working capital balances related to operations:

Changes in working capital

balances related to operations:

Incentive and tax receivables

3 unchanged sentences

Deferred grant income

Net cash used in operating activities

Cash Flows provided by Financing Activities

Net cash used in operating

Flows provided by Financing Activities

Issuance of common shares

Proceeds from exercise of stock options

Net cash provided by (used in) financing activities

Decrease in cash and cash equivalents during the period

Cash and cash equivalents, beginning of period

Cash and cash equivalents, end of period

Supplemental Cash Flow Information

Cash paid for state and local franchise taxes

Common stock issued upon cashless exercise of stock option

See Accompanying Notes to Condensed Consolidated Interim Financial Statements

Payment for taxes related

to cashless exercise of options

Proceeds from exercise

of stock options

Net cash (used in) provided by financing activities

Decrease in cash and cash

equivalents during the period

Cash and cash equivalents,

beginning of period

and cash equivalents, end of period

Cash Flow Information

Cash paid for state and

local franchise taxes

Common stock issued upon

cashless exercise of stock option

Accompanying Notes to Condensed Consolidated Interim Financial Statements

Anavex Life Sciences Corp.

Condensed Consolidated Interim Statements of Changes in Stockholders’ Equity

For the three months ended March 31, 2025 and 2024

For the three months ended June 30, 2025 and 2024

(in thousands, except share and per share amounts)

Additional Paid-in

Share Proceeds

Paid-in Capital

Balance, January 1, 2025

Shares issued pursuant to exercise of

stock options

Shares issued pursuant to cashless

exercise of stock option

Shares withheld related to cashless

exercise of stock option and taxes

Balance, April 1, 2025

$ ( 359,378 )

Shares issued pursuant to exercise of stock options

Shares issued pursuant to cashless exercise of stock option

Shares withheld related to cashless exercise of stock option

Share based compensation

Balance, March 31, 2025

Balance, January 1, 2024

Shares issued under 2023 purchase

Balance, June 30, 2025

$ ( 372,621 )

Balance, April 1, 2024

$ ( 312,237 )

Shares issued under 2023 purchase agreement

Purchase shares

Commitment shares

Shares issued pursuant to exercise of

stock options

Shares issued pursuant to exercise of stock options

Share based compensation

Balance, March 31, 2024

See Accompanying Notes to Condensed Consolidated Interim Financial Statements

Balance, June 30, 2024

$ ( 324,451 )

Accompanying Notes to Condensed Consolidated Interim Financial Statements

Anavex Life Sciences Corp.

Condensed Consolidated Interim Statements of Changes in Stockholders’ Equity

For the six months ended March 31, 2025 and 2024

For the nine months ended June 30, 2025 and 2024

(in thousands, except share and per share amounts)

Additional Paid-in

Share Proceeds

Paid-in Capital

Balance, October 1, 2024

Shares issued pursuant to

exercise of stock options

Shares issued pursuant to

cashless exercise of stock option

Shares withheld related to

cashless exercise of stock option

$ ( 336,071 )

Shares issued pursuant to exercise of stock options

Shares issued pursuant to cashless exercise of stock options

Shares withheld related to cashless exercise of stock options and taxes

Share based compensation

Balance, March 31, 2025

Balance, June 30, 2025

$ ( 372,621 )

Balance, October 1, 2023

Shares issued under 2023

Purchase Agreement

$ ( 293,069 )

Shares issued under 2023 Purchase Agreement

Purchase shares

Commitment shares

Shares issued pursuant to

exercise of stock options

Shares issued pursuant to exercise of stock options

Share based compensation

Balance, March 31, 2024

See Accompanying Notes to Condensed Consolidated Interim Financial Statements

Anavex Life Sciences Corp.

Balance, June 30, 2024

$ ( 324,451 )

Accompanying Notes to Condensed Consolidated Interim Financial Statements

Life Sciences Corp.

Notes to the Condensed Consolidated Interim Financial Statements

March 31, 2025 Page 1

June 30, 2025 – Page 1

Note 1 Business Description

27 unchanged sentences

The Company follows the same accounting policies in the preparation of interim reports.

Operating results for the six months ended March 31,

Operating results for the nine months ended June 30,

2025 are not necessarily indicative of the results that may be expected for the year ending September 30, 2025.

19 unchanged sentences

on the timing of future clinical trials.

Anavex Life Sciences Corp.

Life Sciences Corp.

Notes to the Condensed Consolidated Interim Financial Statements

March 31, 2025 Page 2

Other than our rights related to the 2023 Purchase

Agreement (as defined below in Note 5), there can be no assurance that additional financing will be available to us when needed or, if

available, that it can be obtained on commercially reasonable terms.

The Company will need to obtain effectiveness of a new registration

statement in order to access the funds under the 2023 Purchase Agreement.

If the Company is not able to obtain the additional financing

on a timely basis, if and when it is needed, it will be forced to delay or scale down some or all of its research and development activities.

June 30, 2025 – Page 2

Other than our rights related to the Sales Agreement

(as defined below in Note 7) and the 2023 Purchase Agreement (as defined below in Note 5), there can be no assurance that additional financing

will be available to us when needed or, if available, that it can be obtained on commercially reasonable terms.

The Company will need

to file a prospectus supplement in order to access funds under the 2023 Purchase Agreement.

If the Company is not able to obtain the additional

financing on a timely basis, if and when it is needed, it will be forced to delay or scale down some or all of its research and development

Use of Estimates

30 unchanged sentences

value drivers are unobservable by little or no market activity and that are significant to the fair value of the assets or liabilities.

At March 31, 2025 and September 30, 2024, the Company

At June 30, 2025 and September 30, 2024, the Company

did not have any Level 2 or Level 3 assets or liabilities.

Anavex Life Sciences Corp.

Life Sciences Corp.

Notes to the Condensed Consolidated Interim Financial Statements

March 31, 2025 Page 3

June 30, 2025 – Page 3

Basic and Diluted Loss per Share

7 unchanged sentences

net loss per share because their effect would be anti-dilutive.

As of March 31, 2025 loss per share excludes 15,710,622

(March 31, 2024:

As of June 30, 2025 loss per share excludes 15,463,566

(June 30, 2024:

15,190,254 ) potentially dilutive common shares related to outstanding options and warrants, as their effect was anti-dilutive.

27 unchanged sentences

Note 4 Other Income

As of March 31, 2025, the

As of June 30, 2025, the

Company had received a $ 1.0 million research grant awarded by the Michael J.

3 unchanged sentences

ended September 30, 2021.

The grant income was

Life Sciences Corp.

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2025 – Page 4

The grant income has been

deferred when received and is being amortized to other income as the related research and development expenditures are incurred.

the three and six months ended March 31, 2025, the Company recognized $ 0 and $ 12,275 , respectively (three and six months ended March 31,

the three and nine months ended June 30, 2025, the Company recognized $ 24,956 and $ 37,231 , respectively (three and nine months ended June

$ 0 ) of this grant on its statements of operations within grant income.

At March 31, 2025 an amount of $ 0.8 million (September 30,

$ 0.8 million) of this grant is recorded as deferred grant income, representing the amount of this grant which has not yet been amortized

to other income.

The Company will recognize this income on its statements of operations as the related expenditures are incurred to offset

Anavex Life Sciences Corp.

Notes to the Condensed Consolidated Interim Financial Statements

March 31, 2025 Page 4

At June 30, 2025 an amount of $ 0.8 million (September

$ 0.8 million) of this grant is recorded as deferred grant income, representing the amount of this grant which has not yet been

amortized to other income.

The Company will recognize this income on its statements of operations as the related expenditures are incurred

to offset the income.

Research and development

4 unchanged sentences

Anavex Australia, upon filing of a claim in connection with Anavex Australia’s annual income tax return.

During the three and six

months ended March 31, 2025, the Company recorded research and development incentive income of $ 0.1 million (AUD 0.2 million) and $ 0.5

million (AUD 0.8 million), respectively (2024:

$ 0.5 million (AUD 0.7 million) and $ 1.1 million (AUD 1.6 million), respectively) in respect

of the Australia R&D credit for eligible research and development expenses incurred during the period.

This amount is included within

Other income (expense) on the condensed consolidated interim statements of operations and comprehensive loss.

At March 31, 2025, Incentive

During the three and nine

months ended June 30, 2025, the Company recorded research and development incentive income of $ 0.1 million (AUD 0.2 million) and $ 0.6

million (AUD 1.0 million), respectively (June 30, 2024:

$ 0.5 million (AUD 0.8 million) and $ 1.6 million (AUD 2.4 million), respectively)

in respect of the Australia R&D credit for eligible research and development expenses incurred during the period.

This amount is included

within Other income (expense) on the condensed consolidated interim statements of operations and comprehensive loss.

At June 30, 2025, Incentive

and tax receivables includes $ 0.6 million (AUD 1.0 million) (September 30, 2024:

25 unchanged sentences

as declared at the discretion of the Board of Directors.

Life Sciences Corp.

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2025 – Page 5

Preferred Stock

2 unchanged sentences

of shares constituting any series or the designation of the series.

Anavex Life Sciences Corp.

Notes to the Condensed Consolidated Interim Financial Statements

March 31, 2025 Page 5

2023 Purchase Agreement

13 unchanged sentences

on the statements of operations during the year ended September 30, 2023.

During the six months ended March 31, 2025, the Company

did not issue any shares of common stock under the 2023 Purchase Agreement (2024:

an aggregate of 1,503,707 shares of common stock including

1,500,000 shares for an aggregate purchase price of $ 7.4 million and 3,707 commitment shares).

At March 31, 2025, there was an unused amount of $ 110.8

During the nine months ended June 30, 2025, the Company

did not issue any shares of common stock under the 2023 Purchase Agreement (June 30, 2024:

an aggregate of 2,455,646 shares of common

stock including 2,450,000 shares for an aggregate purchase price of $ 11.3 million and 5,646 commitment shares).

At June 30, 2025, there was an unused amount of $ 110.8

million under the 2023 Purchase Agreement.

The Company will need to obtain effectiveness of a new registration statement in order to access

funds under the 2023 Purchase Agreement.

The Company will need to file a prospectus supplement in order to access funds under the 2023

Purchase Agreement.

2020 Sales Agreement

3 unchanged sentences

stock registered under an effective registration statement from time to time through the Sales Agents (the “Offering”).

During the six months ended March 31, 2024, no shares

During the nine months ended June 30, 2024, no shares

were sold pursuant to the Offering.

2 unchanged sentences

Stock Options

During the three and six months ended March 31,

2025, the Company issued a net 217,503

shares of common stock to the Company’s Chief Executive Officer upon a net exercise of an option to purchase 500,000

shares of common stock at an exercise price of $ 0.92

In connection with the exercise, the Company withheld 47,745

shares of common stock as consideration of the exercise price of $ 0.46

million and 234,752

shares of common stock as consideration for the payment of $ 2.3

million in connection with tax withholding obligations associated with the exercise.

The shares withheld were based upon a market

price of $9.63 per share as determined by reference to the average high and low sales price reported on the Nasdaq stock exchange on

the date of exercise.

At March 31, 2025, the amount of $ 2.3

million in connection with the tax withholding obligations was included in accounts payable on the consolidated balance sheets.

During the nine months ended June 30, 2025, the Company

issued 217,503 shares of common stock to the Company’s Chief Executive Officer upon a net exercise of an option to purchase 500,000

shares of common stock at an exercise price of $ 0.92 per share.

In connection with the exercise, the Company withheld 47,745 shares of

common stock as consideration of the exercise price of $ 0.46 million and 234,752 shares of common stock as consideration for the payment

of $ 2.3 million in connection with tax withholding obligations associated with the exercise.

The number of shares withheld were based

upon a market price of $ 9.63 per share as determined by reference to the average high and low sales price reported on the Nasdaq stock

exchange on the date of exercise.

Life Sciences Corp.

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2025 – Page 6

During the three and nine months ended June 30, 2025,

the Company issued 38,651 shares of common stock to a director of the Company upon a net exercise of an option to purchase 50,000 shares

of common stock at an exercise price of $ 1.76 per share.

The Company withheld 11,349 shares of common stock as consideration of the exercise

price of $ 88,000 .

The number of shares withheld were based upon a market price of $ 7.75 per share as determined by reference to the average

high and low sales price reported on the Nasdaq stock exchange on the date of exercise

Note 6 Commitments and Contingencies

2 unchanged sentences

Company is required to pay its proportionate share of operating costs.

Anavex Life Sciences Corp.

Notes to the Condensed Consolidated Interim Financial Statements

March 31, 2025 Page 6

operating lease costs were as follows (in thousands):

Schedule of operating lease costs

Three months ended March 31,

Six months ended March 31,

Three months ended June 30,

Nine months ended June 30,

Operating lease costs

7 unchanged sentences

Schedule of contributions under the plan

Three Months Ended March 31,

Six Months ended March 31

Three months ended June 30,

Nine months ended June 30,

Contributions to 401(k) plan

10 unchanged sentences

to certain clinical trials for ANAVEX ® 2-73 related to Rett syndrome.

The complaint seeks unspecified damages, as well as

costs, including counsel and expert witness fees, on behalf of a class of investors.

The Company believes the lawsuit is without

merit and the Company denies any liability or wrongdoing and has filed a motion to dismiss the complaint, which is awaiting a decision

by the Court.

No amount has been recorded in these condensed consolidated interim financial statements for any loss contingencies associated

with this lawsuit as the Company believes that it is not probable that any loss will occur.

This lawsuit was dismissed by the United States District

Court for the Southern District of New York on June 18, 2025.

The plaintiff filed a notice of appeal on July 17, 2025.

A briefing schedule

has not yet been entered.

No amount has been recorded in these condensed consolidated interim financial statements for any loss contingencies

associated with this lawsuit as the Company believes that it is not probable that any loss will occur.

Life Sciences Corp.

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2025 – Page 7

On May 8, 2024,

a similar complaint was filed in the same court by Kenneth Downing, a purported shareholder of the Company, against the same defendants.

The Company believed that this lawsuit was also without merit and filed a motion to dismiss the complaint.

Plaintiff Downing voluntarily

dismissed this complaint subsequent to the filing of the motion to dismiss.

The Company believed that this lawsuit was without merit and filed a motion to dismiss the complaint.

Plaintiff Downing voluntarily dismissed

this complaint subsequent to the filing of the motion to dismiss.

May 13, 2024, a derivative lawsuit was filed against the Company (as nominal defendant), an officer of the Company, and members of the

10 unchanged sentences

for any loss contingencies associated with this lawsuit as the Company believes that it is not probable that any loss will occur.

Anavex Life Sciences Corp.

Notes to the Condensed Consolidated Interim Financial Statements

March 31, 2025 Page 7

14, 2025, another derivative lawsuit asserting state law breach of fiduciary duty and unjust enrichment claims based upon similar allegations

was filed against the Company (as nominal defendant), an officer of the Company, and members of the Company’s Board of Directors

in the Supreme Court for the State of New York, County of New York, by another purported shareholder named Evan Levitan.

The parties to

that action also have stipulated to a stay of the proceeding until the Court rules on the motion to dismiss in the putative class action

in the Supreme Court for the State of New York, County of New York, by another purported shareholder.

The parties to that action also

have agreed to a stipulation that would stay the proceeding until the Court rules on the motion to dismiss in the putative class action

lawsuit pending in the U.S.

11 unchanged sentences

Share Purchase Warrants

At March 31, 2025 and September 30, 2024, the Company

At June 30, 2025 and September 30, 2024, the Company

had 10,000 share purchase warrants outstanding exercisable at $ 12.00 per share until April 21, 2026 .

6 unchanged sentences

issue under the 2015 Plan was 6,050,553 shares, subject to adjustment in the event of a change of the Company’s capitalization.

Life Sciences Corp.

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2025 – Page 8

2019 Stock Option Plan

16 unchanged sentences

than by reason of settlement of the awards in shares) will automatically become available for issuance under the 2022 Plan.

Anavex Life Sciences Corp.

Notes to the Condensed Consolidated Interim Financial Statements

March 31, 2025 Page 8

The 2022 Plan provides that it may be administered

6 unchanged sentences

periods as may be determined by the Board, subject to earlier termination in accordance with the terms of the 2022 Plan.

As at March 31,

2025, 6,751,000 options had been issued under the 2022 Plan and 3,978,702 options were available for issue under the 2022 Plan.

On April 17, 2025, the Board approved an amendment

to the 2022 Plan (the “Amendment”).

The Amendment was approved by the stockholders on June 10, 2025.

The Amendment increased

the number of shares of common stock reserved for issuance under the 2022 Plan by 4,000,000 shares for a total of 14,000,000 .

the Amendment established a minimum vesting period of one year for all awards granted under the 2022 Plan and limited the discretion to

accelerate the vesting of awards upon a separation from service, with limited exceptions permitted.

Finally, the Amendment prohibited

liberal share recycling provisions.

As at June 30, 2025, 6,542,062 options had been issued

under the 2022 Plan and 8,418,866 options were available for issue under the 2022 Plan.

The following summarizes information about stock option

activity during the six months ended March 31, 2025:

activity during the nine months ended June 30, 2025:

Schedule of stock option activity

4 unchanged sentences

Outstanding, September 30, 2024

Outstanding, March 31, 2025

Exercisable, March 31, 2025

Outstanding, June 30, 2025

Exercisable, June 30, 2025

Life Sciences Corp.

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2025 – Page 9

The following summarizes information about stock options

at March 31, 2025 by a range of exercise prices:

at June 30, 2025 by a range of exercise prices:

Schedule of summarizes information about stock options

Weighted average remaining

Weighted average

Range of exercises prices

Number of outstanding

Weighted average remaining contractual life (in

Weighted average exercise

Number of vested

Weighted average exercise

life (in years)

The weighted average per share fair value of options

vested at March 31, 2025 was $ 4.68 (September 30, 2024:

At March 31, 2024, the weighted average contractual life of options outstanding

vested at June 30, 2025 was $ 4.73 (September 30, 2024:

At June 30, 2025, the weighted average contractual life of options outstanding

was 5.38 years (September 30, 2024:

5.48 years) and for options exercisable was 4.10 years (September 30, 2024:

Anavex Life Sciences Corp.

Notes to the Condensed Consolidated Interim Financial Statements

March 31, 2025 Page 9

The aggregate intrinsic value is calculated as the

difference between the exercise price of the underlying awards and the quoted market price of the Company’s stock for the options

that were in-the-money at March 31, 2025.

The Company recognized share-based compensation expense of $ 1.4 million

and $ 3.5 million during the three and six months ended March 31, 2025, respectively (three and six months ended March 31, 2024:

$ 2.7 million

and $ 4.9 million, respectively) in connection with the issuance and vesting of stock options in exchange for services.

These amounts

have been included in general and administrative expenses and research and development expenses on the Company’s condensed consolidated

interim statements of operations as follows (in thousands):

that were in-the-money at June 30, 2025.

The Company recognized share-based compensation

expense of $ 4.3 million and $ 7.8 million during the three and nine months ended June 30, 2025, respectively (three and nine months ended

June 30, 2024:

$ 2.5 million and $ 7.4 million, respectively) in connection with the issuance and vesting of stock options in exchange

for services.

These amounts have been included in general and administrative expenses and research and development expenses on the

Company’s condensed consolidated interim statements of operations as follows (in thousands):

Schedule of general and administrative expenses and research and development expenses

Three months ended March 31,

Six months ended March 31,

Three months ended June 30,

Nine months ended June 30,

General and administrative

6 unchanged sentences

The fair value of share-based compensation charges recognized during

the three and six months ended March 31, 2025 was determined with reference to the quoted market price of the Company’s shares on

the three and nine months ended June 30, 2025 was determined with reference to the quoted market price of the Company’s shares on

the grant date and based on the following weighted average assumptions:

4 unchanged sentences

Dividend rate

Life Sciences Corp.

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2025 – Page 10

Note 7 Subsequent Events

4 unchanged sentences

are considered to be available to be issued at the time they are filed with the Securities and Exchange Commission (SEC).

On April 17, 2025, the Board approved, subject to

stockholder approval, an amendment to the 2022 Plan (the “Amendment”).

The Amendment, if approved by stockholders, will increase

the number of shares of common stock reserved for issuance under the 2022 Plan by 4,000,000 shares.

In addition, the Amendment will establish

a minimum vesting period of one year for all awards granted under the Plan and limit the discretion to accelerate the vesting of awards

upon a separation from service, with limited exceptions permitted.

Finally, the Amendment would prohibit liberal share recycling provisions.

Sales Agreement

On July 25, 2025, the Company entered into a Sales

Agreement (the “Sales Agreement”) with TD Securities (USA) LLC (the “Sales Agent”).

Pursuant to the Sales Agreement,

the Company may offer and sell up to an aggregate offering price of $150 million (the “Offering”) in shares of common stock

from time to time through the Sales Agent.

Upon delivery of a placement notice based on the Company’s

instructions and subject to the terms and conditions of the Sales Agreement, the Sales Agent may sell shares of common stock by methods

deemed to be an “at the market offering”, in negotiated transactions at market prices prevailing at the time of sale or at

prices related to such prevailing market prices, or by any other method permitted by law, including negotiated transactions, subject to

the Company’s prior written consent.

The Company is not obligated to make any sales of shares under the Sales Agreement.

or the Sales Agent may suspend or terminate the Offering upon notice to the other party, subject to certain conditions.

The Sales Agent

will act as sales agent on a commercially reasonable efforts basis consistent its normal trading and sales practices, applicable state

and federal law, rules and regulations and the rules of Nasdaq.

The Company has agreed to pay the Sales Agent commissions

for its services of up to 3.0 % of the gross proceeds from the sale of shares of common stock pursuant to the Sales Agreement.

has also agreed to provide the Sales Agent with customary indemnification and contribution rights.

Tax Legislation

On July 4, 2025, the United States President signed

into law the One Big Beautiful Bill Act, a budget reconciliation package that changes many key provisions of the U.S.

federal income tax

code, including extensions of various expiring provisions from the Tax Cuts and Jobs Act of 2017.

The Company is evaluating the impact

on its financial statements from this legislation and the anticipated forthcoming administrative guidance.

The Company expects the most

significant impact of the new legislation will be to allow for more taxpayer-favorable treatment of research and development expenditures

for US income tax purposes.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 1. Financial Statements