What changed in this filing

/stocks — the workspaceLOADING

Item 2. Management’s Discussion and Analysis

2022-05-16 compared with 2021-11-12 · 24 added, 48 removed, 64 unchanged (53% of the section changed)

52 unchanged sentences

Results of operations

Three months ended September 30, 2021 compared to the three months

ended September 30, 2020

For the three months ended September 30, 2021,

the Company had a loss from operations before income taxes of $298,000 compared to a loss from operations before income taxes of $47,000

for the three months ended September 30, 2020.

Three months ended March 31, 2022 compared to the three months

ended March 31, 2021

For the three months ended March 31, 2022, the

Company had a loss from operations before income taxes of $314,000 compared to a loss from operations before income taxes of $249,000

for the three months ended March 31, 2021.

The increased loss before income taxes of

$251,000 was primarily as a result of a decrease in Interest and other income for the three months ended on September 30, 2021 mainly

due to the sale of the Company’s former ticker symbol (WISH) for consideration of $250,000 during the quarter ended September 30,

$65,000 was primarily a result of an increase in Compensation and benefits of $11,000, and increase in Other operating expenses of $1,000,

and by a decrease in Interest and other income for the three months ended March 31, 2022 mainly due to the gain on extinguishment of debt

of $53,000 during the quarter ended March 31, 2021.

Compensation and benefits

For the three months ended September 30, 2021,

Compensation and benefits were $111,000 as compared to $105,000 for the three months ended September 30, 2020.

For the three months ended March 31, 2022, Compensation

and benefits were $117,000 as compared to $106,000 for the three months ended March 31, 2021.

Other operating expenses

For the three months ended September 30, 2021,

Other operating expenses were $187,000 as compared to $193,000 for the three months ended September 30, 2020.

The decreased operating expenses of $6,000 were

primarily the result of decreased professional fees of $5,000, decreased other expenses of $4,000, offset by increased insurance expenses

For the three months ended March 31, 2022, Other

operating expenses were $197,000 as compared to $196,000 for the three months ended March 31, 2021.

For the three months

ended September 30, 2021, the Company recorded income tax expense from operations of approximately $1,000, which represents minimum state

No tax benefit has been recorded in relation to the pre-tax loss for the three and nine months ended September 30, 2021 and 2020,

due to a full valuation allowance to offset any deferred tax asset related to net operating loss carry forwards attributable to the losses.

Nine months ended September 30, 2021 compared to the nine months

ended September 30, 2020

For the nine months ended September 30, 2021,

the Company had a loss from operations before income taxes of $840,000 compared to a loss from operations of $711,000 for the nine months

ended September 30, 2020.

The increased loss before income taxes of

$129,000 was the result of a decrease in Interest and other income of $258,000, primarily as the result of the sale of the Company’s

former ticker symbol (WISH) for consideration of $250,000 in 2020, offset by decreased Compensation and benefits of $29,000, and other

operating expenses of $100,000.

Compensation and benefits

For the nine months ended September 30, 2021,

Compensation and benefits were $335,000 as compared to $364,000 for the nine months ended September 30, 2020.

The decreased Compensation

and benefits of $29,000 was primarily the result of a decrease in the health plan expense and salary expense for the nine months ended

September 30, 2021 in comparison to the nine months ended September 30, 2020.

Other operating expenses

For the nine months ended September 30, 2021,

Other operating expenses were $558,000 as compared to $658,000 for the nine months ended September 30, 2020.

The decreased operating expenses of $100,000 were

primarily the result of decreased professional fees of $82,000, decreased insurance expense of $13,500, and decreased other expenses of

For the nine months ended

September 30, 2021, the Company recorded income tax expense from operations of approximately $2,000, which represents minimum state taxes.

No tax benefit has been recorded in relation to the pre-tax loss for the three and nine months ended September 30, 2021 and 2020, due

to a full valuation allowance to offset any deferred tax asset related to net operating loss carry forwards attributable to the losses.

ended March 31, 2022, the Company recorded no income tax expense from operations.

No tax benefit has been recorded in relation to the

pre-tax loss for the three months ended March 31, 2022 and 2021, due to a full valuation allowance to offset any deferred tax asset related

to net operating loss carry forwards attributable to the losses.

Financial condition

Liquidity and Capital Resources

At September 30, 2021, the Company had cash and

cash equivalents totaling $5,634,000, which it intends to use to acquire interests in one or more

operating businesses, to fund the Company’s general and administrative expenses, and the directors will also consider alternatives

for distributing some or all of its cash and cash equivalents to stockholders.

The Company believes that its working capital is sufficient

to support its operating requirements through November 2022.

At March 31, 2022, the Company had cash and cash

equivalents totaling $5,095,000, which it intends to use to acquire interests in one or more operating

businesses, to fund the Company’s general and administrative expenses, and the directors will also consider alternatives for distributing

some or all of its cash and cash equivalents to stockholders.

The Company believes that its working capital is sufficient to support its

operating requirements through June 30, 2023.

Cash equivalents represent short-term, highly

liquid investments, which are readily convertible to cash and have maturities of three months or less at time of purchase.

to note 4 for valuation on Investments.

to note 4 for valuation of Investments.

The decrease in cash and cash equivalents of $301,000

for the quarter ended September 30, 2021 was primarily the result of $835,000 used in operating activities.

for the quarter ended March 31, 2022 was primarily the result of $301,000 used in operating activities.

Quantitative and Qualitative Disclosures About Market Risk

1 unchanged sentence

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 2. Management’s Discussion and Analysis