What changed in this filing

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Item 1. Financial Statements

2025-11-13 compared with 2025-08-13 · 184 added, 174 removed, 268 unchanged (57% of the section changed)

3 unchanged sentences

BALANCE SHEETS

June 30, 2025

September 30, 2025

December 31, 2024

10 unchanged sentences

500,000,000 common shares authorized;

389,080,152 and 371,880,152 shares issued and outstanding as at June 30, 2025 and December 31, 2024 respectively (Note 7)

390,080,152 and 371,880,152 shares issued and outstanding as at September 30, 2025 and December 31, 2024 respectively (Note 7)

Additional paid-in capital

10 unchanged sentences

STATEMENTS OF OPERATIONS

For the Three and Six Months Ended June 30, 2025

June 30, 2025

June 30, 2024

June 30, 2025

June 30, 2024

For the Three and Nine Months Ended September

30, 2025 and 2024

Three months ended

September 30, 2025

Three months ended

September 30, 2024

Nine months ended

September 30, 2025

Nine months ended

September 30, 2024

Amortization – intangible assets (Note 4)

2 unchanged sentences

Research and development

compensation (Note 5)

Total operating expenses

7 unchanged sentences

STATEMENT OF STOCKHOLDERS’ EQUITY

For the Six Months Ended June 30, 2025

For the Nine Months Ended September 30, 2025

Balance, December 31, 2024

3 unchanged sentences

Net loss for the period

Balance, June 30, 2025

Balance, September 30, 2025

$ ( 48,501,809 )

For the Three Months Ended June 30, 2025

Balance, March 31, 2025

Balance, June 30, 2025

$ ( 48,416,903 )

1 unchanged sentence

Net loss for the period

Balance, June 30, 2025

Balance, September 30, 2025

$ ( 48,501,809 )

For the Six Months Ended June 30, 2024

For the Nine Months Ended September 30, 2024

Balance, December 31, 2023

1 unchanged sentence

Issuance of common stock pursuant to private placement offering

Fair-value of share based compensation

Net loss for the period

Balance, June 30, 2024

Balance, September 30, 2024

$ ( 48,125,634 )

For the Three Months Ended June 30, 2024

Balance, March 31, 2024

For the Three Months Ended September 30,

Balance, June 30, 2024

Issuance of common stock pursuant to private placement offering

Fair-value of share based compensation

Net loss for the period

Balance, June 30, 2024

Balance, September 30 , 2024

See Notes to Financial Statements

2 unchanged sentences

STATEMENTS OF CASH FLOWS

For the Six Months Ended June 30, 2025 and 2024

June 30, 2025

June 30, 2024

For the Nine Months Ended September 30, 2025 and

September 30, 2025

September 30, 2024

CASH FLOWS USED IN OPERATING ACTIVITIES

4 unchanged sentences

Amortization – intangible assets

Fair value of share-based compensation

Changes in operating assets and liabilities:

13 unchanged sentences

Supplementary information- non-cash transactions:

Shares issued to settle accounts payable

Intangible asset costs remaining in accounts payable

3 unchanged sentences

NOTES TO FINANCIAL STATEMENTS

June 30, 2025

Basis of Presentation – Going

Concern Uncertainties

September 30, 2025

Basis of Presentation –

Going Concern Uncertainties

ProtoKinetix, Incorporated (the “Company”),

10 unchanged sentences

product, has not generated any significant revenue to date, and has incurred losses since inception, resulting in a net accumulated deficit

at June 30, 2025.

at September 30, 2025.

These factors raise substantial doubt about the Company’s ability to continue as a going concern.

The Company needs additional working capital to continue

its medical research or to be successful in any future business activities and continue to pay its liabilities.

Therefore, continuation

of the Company as a going concern is dependent upon obtaining the additional working capital necessary to accomplish its objective.

The Company needs additional working capital to

continue its medical research or to be successful in any future business activities and continue to pay its liabilities.

continuation of the Company as a going concern is dependent upon obtaining the additional working capital necessary to accomplish its

Management is presently engaged in seeking additional working capital through equity financing or related party loans.

In addition, any

significant disruption of global financial markets, reducing our ability to access capital, could negatively affect our liquidity and

ability to continue operations.

The exact impact is and will remain unknown and largely dependent upon future developments, including

but not limited to restrictions on the activities of our domestic and international suppliers and shipment of goods.

The accompanying financial statements do not

include any adjustments to the recorded assets or liabilities that might be necessary should the Company fail in any of the above objectives

and is unable to operate for the coming year.

In addition, any significant disruption of global financial markets, reducing our ability to access capital, could negatively affect our

liquidity and ability to continue operations.

The exact impact is and will remain unknown and largely dependent upon future developments,

including but not limited to restrictions on the activities of our domestic and international suppliers and shipment of goods.

The accompanying financial statements do not include

any adjustments to the recorded assets or liabilities that might be necessary should the Company fail in any of the above objectives and

is unable to operate for the coming year.

Summary of Significant Accounting Policies

Basis of Presentation

The accompanying unaudited financial statements have

been prepared by the Company in conformity with accounting principles generally accepted in the United States of America (“US GAAP”)

applicable to interim financial information and with the rules and regulations of the United States Securities and Exchange Commission.

Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with generally

accepted accounting principles have been condensed, or omitted, pursuant to such rules and regulations.

In the opinion of management,

the unaudited interim financial statements include all adjustments necessary for the fair presentation of the results of the interim periods

The accompanying unaudited financial statements

have been prepared by the Company in conformity with accounting principles generally accepted in the United States of America (“US

GAAP”) applicable to interim financial information and with the rules and regulations of the United States Securities and Exchange

Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance

with generally accepted accounting principles have been condensed, or omitted, pursuant to such rules and regulations.

In the opinion

of management, the unaudited interim financial statements include all adjustments necessary for the fair presentation of the results of

the interim periods presented.

All adjustments are of a normal recurring nature, except as otherwise noted below.

These financial statements should be read

in conjunction with the Company’s audited financial statements and notes thereto for the year ended December 31, 2024, included

in the Company’s Annual Report on Form 10-K, filed March 28, 2025, with the Securities and Exchange Commission.

The results of operations

for the interim periods are not necessarily indicative of the results of operations for any other interim period or for a full fiscal

These financial statements

should be read in conjunction with the Company’s audited financial statements and notes thereto for the year ended December 31,

2024, included in the Company’s Annual Report on Form 10-K, filed March 28, 2025, with the Securities and Exchange Commission.

results of operations for the interim periods are not necessarily indicative of the results of operations for any other interim period

or for a full fiscal year.

PROTOKINETIX, INCORPORATED

1 unchanged sentence

NOTES TO FINANCIAL STATEMENTS

June 30, 2025

September 30, 2025

Summary of Significant Accounting Policies

13 unchanged sentences

nature of these instruments.

The Company measures the fair value of financial assets and liabilities

pursuant to ASC 820 "Fair Value Measurements and Disclosures" which defines fair value, establishes a framework for measuring

fair value, and expands disclosures about fair value measurements.

ASC 820 establishes a fair value hierarchy, which requires an entity

to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value.

The policy describes three

levels of inputs that may be used to measure fair value:

The Company measures the fair value of financial

assets and liabilities pursuant to ASC 820 "Fair Value Measurements and Disclosures" which defines fair value, establishes a

framework for measuring fair value, and expands disclosures about fair value measurements.

ASC 820 establishes a fair value hierarchy,

which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value.

The policy describes three levels of inputs that may be used to measure fair value:

Level 1 – quoted prices in active

4 unchanged sentences

(for example cash flow modeling inputs based on assumptions).

At June 30, 2025, there were no other assets or liabilities subject to

additional disclosure.

The Company accounts for income taxes following the

assets and liability method in accordance with the ASC 740 "Income Taxes." Under such method, deferred tax assets and

liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts

At September 30, 2025, there were no other assets or

liabilities subject to additional disclosure.

The Company accounts for income taxes following

the assets and liability method in accordance with the ASC 740 "Income Taxes." Under such method, deferred tax assets

and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts

of existing assets and liabilities and their respective tax bases.

10 unchanged sentences

NOTES TO FINANCIAL STATEMENTS

June 30, 2025

September 30, 2025

Summary of Significant Accounting Policies

1 unchanged sentence

application costs

The Company owns intangible assets consisting of certain

patents and patent applications.

The Company owns intangible assets consisting

of certain patents and patent applications.

Intangible assets acquired separately are measured on initial recognition at cost.

Following initial

recognition, intangible assets are carried at cost less any accumulated amortization and any accumulated impairment losses.

initial recognition, intangible assets are carried at cost less any accumulated amortization and any accumulated impairment losses.

expenditures are capitalized only when they increase the future economic benefits embodied in the specific asset to which they relate.

All other expenditures are recognized in profit or loss as incurred.

As at June 30, 2025, the Company does not hold any

intangible assets with indefinite lives.

As at September 30, 2025, the Company does not

hold any intangible assets with indefinite lives.

Intangible assets with finite lives are amortized

4 unchanged sentences

as appropriate, and are treated as changes in accounting estimates.

Amortization is recognized in profit or loss on a

straight-line basis over the estimated useful lives of the Company's patents, whereas no amortization has been recognized on the not yet

approved patent application costs at June 30, 2025.

Amortization is recognized in profit or loss on

a straight-line basis over the estimated useful lives of the Company's patents, whereas no amortization has been recognized on the not

yet approved patent application costs at September 30, 2025.

Research and Development Costs

Research and development costs are expensed as incurred.

Research and development costs are expensed as

This includes all research consultant’s fees and costs of contract research organizations.

Loss per Share and Potentially Dilutive Securities

Basic loss per share is computed by dividing the net

loss available to common stockholders by the weighted average number of common shares outstanding in the period.

Diluted loss per

share takes into consideration common shares outstanding (computed under basic earnings per share) and potentially dilutive securities.

The effect of 94,790,000 stock options (June 30, 2024 – 94,290,000 ), and 23,200,000 warrants (June 30, 2024 – 6,000,000 ) were

not included in the computation of diluted loss per share for all periods presented because it was anti-dilutive due to the Company’s

Basic loss per share is computed by dividing the

net loss available to common stockholders by the weighted average number of common shares outstanding in the period.

per share takes into consideration common shares outstanding (computed under basic earnings per share) and potentially dilutive securities.

The effect of 94,790,000 stock options (September 30, 2024 – 94,790,000 ), and 23,700,000 warrants (September 30, 2024 – 6,000,000 )

were not included in the computation of diluted loss per share for all periods presented because it was anti-dilutive due to the Company’s

Share-Based Compensation

The Company has granted warrants and options to purchase

shares of the Company’s common stock to various parties for consulting services.

The fair values of the warrants and options

issued have been estimated using the Black-Scholes Option Pricing Model.

The Company accounts for stock compensation with persons

classified as employees for accounting purposes in accordance with ASC 718 “Compensation – Stock Compensation”, which

recognizes awards at fair value on the date of grant and recognition of compensation over the service period for awards expected to vest.

The Company has granted warrants and options to

purchase shares of the Company’s common stock to various parties for consulting services.

The fair values of the warrants

and options issued have been estimated using the Black-Scholes Option Pricing Model.

The Company accounts for stock compensation with

persons classified as employees for accounting purposes in accordance with ASC 718 “Compensation – Stock Compensation”,

which recognizes awards at fair value on the date of grant and recognition of compensation over the service period for awards expected

Cliff Vesting is used and awards vest on the last day of the vesting period.

The fair value of stock options is determined using the Black-Scholes

Option Pricing Model.

The fair value of common shares issued for services is determined based on the Company’s stock price on the

date of issuance.

The fair value of stock options is determined using

the Black-Scholes Option Pricing Model.

The fair value of common shares issued for services is determined based on the Company’s

stock price on the date of issuance.

PROTOKINETIX, INCORPORATED

1 unchanged sentence

NOTES TO FINANCIAL STATEMENTS

June 30, 2025

September 30, 2025

Summary of Significant Accounting Policies

Share-Based Compensation (cont’d)

Share-based compensation for non-employees in exchange

for goods and services used or consumed in an entity’s own operations are also recorded at fair value on the measurement date and

accounted for in accordance with ASC 718.

The measurement of share-based compensation is subject to periodic adjustment as the underlying

instruments vest.

The fair value of stock options is estimated using the Black-Scholes Option Pricing Model and the compensation charges

are amortized over the vesting period.

Share-based compensation for non-employees in

exchange for goods and services used or consumed in an entity’s own operations are also recorded at fair value on the measurement

date and accounted for in accordance with ASC 718.

The measurement of share-based compensation is subject to periodic adjustment as the

underlying instruments vest.

The fair value of stock options is estimated using the Black-Scholes Option Pricing Model and the compensation

charges are amortized over the vesting period.

Common stock issued for non-monetary consideration

3 unchanged sentences

performance is complete.

Transaction costs directly attributable to the issuance

of common stock, units and stock options are recognized as a deduction from equity, net of any tax effects.

Transaction costs directly attributable to the

issuance of common stock, units and stock options are recognized as a deduction from equity, net of any tax effects.

Related Party Transactions

A related party is generally defined as (i) any person

that holds 10% or more of the Company’s securities and their immediate families, (ii) the Company’s management, (iii) someone

that directly or indirectly controls, is controlled by or is under common control with the Company, or (iv) anyone who can significantly

A related party is generally defined as (i) any

person that holds 10% or more of the Company’s securities and their immediate families, (ii) the Company’s management, (iii)

someone that directly or indirectly controls, is controlled by or is under common control with the Company, or (iv) anyone who can significantly

influence the financial and operating decisions of the Company.

2 unchanged sentences

Recent Accounting Pronouncements

Certain new accounting pronouncements that have been issued are not

expected to have a material effect on the Company’s financial statements.

Certain new accounting pronouncements that have been issued are

not expected to have a material effect on the Company’s financial statements.

PROTOKINETIX, INCORPORATED

1 unchanged sentence

NOTES TO FINANCIAL STATEMENTS

June 30, 2025

September 30, 2025

Prepaid Expenses

The following summarizes the Company’s prepaid

expenses outstanding as at June 30, 2025 and December 31, 2024:

expenses outstanding as at September 30, 2025 and December 31, 2024:

Schedule of prepaid expenses outstanding

September 30,

Rental deposit

Intangible Assets

Intangible asset transactions are summarized as follows:

Intangible asset transactions are summarized as

Schedule of intangible asset transactions

4 unchanged sentences

Balance, December 31, 2024

Balance, June 30, 2025

Balance, September 30, 2025

Accumulated amortization

1 unchanged sentence

Balance, December 31, 2024

Balance, June 30, 2025

Balance, September 30, 2025

Net carrying amounts

December 31, 2024

June 30, 2025

September 30, 2025

During the year ended December 31, 2015, the

Company entered into an Assignment of Patents and Patent Application (effective January 1, 2015) (the “Patent Assignment”)

with the Institut National des Sciences Appliquees de Rouen (“INSA”) for the assignment of certain patents and all rights

associated therewith (the “Patents”).

The Company and INSA had previously entered into a licensing agreement for the Patents

in August 2004.

The Patent Assignment transfers all of the Patents and rights associated therewith to the Company upon payment to INSA

in the sum of $ 30,000 (25,000 Euros) (paid).

During the six month period June 30, 2025, the Company recorded $ 25,548 (2024 - $ 24,341 )

Company entered into an Assignment of Patents and Patent Application (effective January 1, 2015) (the “Patent

Assignment”) with the Institut National des Sciences Appliquees de Rouen (“INSA”) for the assignment of certain

patents and all rights associated therewith (the “Patents”).

The Company and INSA had previously entered into a

licensing agreement for the Patents in August 2004.

The Patent Assignment transfers all of the Patents and rights associated

therewith to the Company upon payment to INSA in the sum of $ 30,000

(25,000 Euros) (paid).

During the nine month period ended September 30, 2025, the Company recorded $ 38,189

(2024 - $ 39,461 )

in amortization expense associated with the Patents Rights.

8 unchanged sentences

Company incurred an additional $663,234 in direct costs relating to the Patent Application Rights, $ 44,371 of which were incurred during

six month period ended June 30, 2025.

nine month period ended September 30, 2025.

PROTOKINETIX, INCORPORATED

1 unchanged sentence

NOTES TO FINANCIAL STATEMENTS

June 30, 2025

September 30, 2025

Intangible Assets (cont’d)

8 unchanged sentences

The Company incurred $ 2,415 in direct costs relating to the New Patent Application Rights during the year ended December 31, 2016.

The Company amortizes patents and licenses that have

been filed over their useful lives which range between 18.5 to 20 years.

The costs of provisional patents and pending applications is

not amortized until the patent is filed and is reviewed each reporting period.

The Company amortizes patents and licenses that

have been filed over their useful lives which range between 18.5 to 20 years.

The costs of provisional patents and pending applications

is not amortized until the patent is filed and is reviewed each reporting period.

No amortization was recorded on the Patent Application

Rights or the New Patent Application Rights to June 30, 2025.

Rights or the New Patent Application Rights to September 30, 2025.

Stock Options

Pursuant to an amendment on March 15, 2022, the aggregate

number of shares that may be issued under the 2017 Stock Option and Stock Bonus Plan (the “2017 Plan”) is 97,700,000 shares,

subject to adjustment as provided therein.

The 2017 Plan is administered by the Company’s Board of Directors, or a committee appointed

by the Board of Directors, and includes two types of options.

Pursuant to an amendment on March 15, 2022, the

aggregate number of shares that may be issued under the 2017 Stock Option and Stock Bonus Plan (the “2017 Plan”) is 97,700,000

shares, subject to adjustment as provided therein.

The 2017 Plan is administered by the Company’s Board of Directors, or a committee

appointed by the Board of Directors, and includes two types of options.

Options intended to qualify as incentive stock options under Section

422 of the Internal Revenue Code of 1986, as amended, are referred to as incentive options.

Options that are not intended to qualify as incentive

options are referred to as non-qualified options.

The exercise price of an option may be paid in cash, in shares of the Company's common

stock or other property having a fair market value equal to the exercise price of the option, or in a combination of cash, shares, other

securities and property.

As of June 30, 2025, there are 94,790,000 options

granted and outstanding under the 2017 Plan.

Total share-based compensation for stock options granted during the

six-month period ended June 30, 2025 was $Nil 0

(2024 - $Nil 0 ).

Options that are not intended to qualify as

incentive options are referred to as non-qualified options.

The exercise price of an option may be paid in cash, in shares of the Company's

common stock or other property having a fair market value equal to the exercise price of the option, or in a combination of cash, shares,

other securities and property.

As of September 30, 2025, there are 94,790,000

options granted and outstanding under the 2017 Plan.

Total share-based compensation for stock options granted during

the nine-month period September 30, 2025 was $Nil 0

(2024 - $ 1,354 ).

Stock option transactions are summarized as follows:

3 unchanged sentences

Weighted Average Remaining Life

Outstanding, December 31, 2024, and June 30, 2025

December 31, 2024, and September 30, 2025

The following non-qualified

stock options were outstanding and exercisable at June 30, 2025:

stock options were outstanding and exercisable at September 30, 2025:

Schedule of non-qualified stock options outstanding and exercisable

5 unchanged sentences

August 6, 2030

As at June 30, 2025, the aggregate intrinsic

value of the Company’s stock options is $Nil 0 (June 30, 2024 – $Nil 0 ).

The weighted average fair value of stock

options granted during the six-month period ended June 30, 2025 is $Nil 0 (2024 - $Nil 0 ).

As at September 30, 2025, the aggregate

intrinsic value of the Company’s stock options is $Nil 0 (September 30, 2024 – $Nil 0 ).

The weighted average fair value

of stock options granted during the nine-month period ended September 30, 2025 is $Nil 0.0 (2024 - $ 0.01 ).

PROTOKINETIX, INCORPORATED

1 unchanged sentence

NOTES TO FINANCIAL STATEMENTS

June 30, 2025

Warrant transactions for the six-months ended June 30, 2025 are summarized

September 30, 2025

Warrant transactions for the nine-months September 30, 2025 are summarized

Schedule of warrant transactions

2 unchanged sentences

Warrants granted

Outstanding at June 30, 2025

The following warrants were outstanding and exercisable as

at June 30, 2025:

Outstanding at September 30, 2025

The following warrants were outstanding and exercisable as at September

Schedule of warrants were outstanding and exercisable

13 unchanged sentences

June 26, 2026

July 25, 2026

Each warrant exercises into ½ share of common stock.

Stockholders’ Equity

The Company is authorized to issue 500,000,000 (June

30, 2024 – 500,000,000 ) shares of $ 0.0000053 par value common stock.

Each holder of common stock has the right to one vote but does

not have cumulative voting rights.

Shares of common stock are not subject to any redemption or sinking fund provisions, nor do they have

any preemptive, subscription or conversion rights.

Holders of common stock are entitled to receive dividends whenever funds are legally

available and when declared by the board of directors, subject to the prior rights of holders of all classes of stock outstanding having

priority rights as to dividends.

No dividends have been declared or paid as of June 30, 2025 (June 30, 2024 - $Nil ).

During the six-month period ended June 30, 2025, the Company:

Issued 17,200,000

units (each unit consisting of 1 share of common stock and 1 warrant to purchase 1/2 share of common stock at $ 0.01 )

as part of a private placement for total cash proceeds of $ 167,500

and $ 4,500 of services.

During the six-month period ended June 30, 2024, the Company:

The Company is authorized to issue 500,000,000

(September 30, 2024 – 500,000,000 ) shares of $ 0.0000053 par value common stock.

Each holder of common stock has the right to one

vote but does not have cumulative voting rights.

Shares of common stock are not subject to any redemption or sinking fund provisions,

nor do they have any preemptive, subscription or conversion rights.

Holders of common stock are entitled to receive dividends whenever

funds are legally available and when declared by the board of directors, subject to the prior rights of holders of all classes of stock

outstanding having priority rights as to dividends.

No dividends have been declared or paid as of September 30, 2025 (September 30, 2024

During the nine-month period ended September 30, 2025, the Company:

Issued 17,700,000 units (each unit consisting of 1 share of common stock and 1 warrant to purchase 1/2 share of common stock at $ 0.01 ) as part of a private placement for total cash proceeds of $ 172,500 and $ 4,500 of services.

Issued 500,000 shares of common stock ( 1,000,000 shares issued at $ 0.01 ) as part of a private placement for total proceeds of $ 5,000 .

During the nine-month period ended September 30, 2024, the Company:

Issued 1,666,667 shares of common stock ( 1,666,667 shares issued at $ 0.015 ) as part of a private placements for total proceeds of $ 25,000 .

3 unchanged sentences

NOTES TO FINANCIAL STATEMENTS

June 30, 2025

September 30, 2025

Related Party Transactions and Balances

During the six-month periods ended June 30, 2025 and 2024, the Company

entered into the following related party transactions:

Pursuant to a consulting agreement with an effective date of November 14, 2017, a total of $ 30,000 (June 30, 2024 - $ 30,000 ) was paid or accrued to the Company's CFO.

During the six months ended June 30, 2025, the Company reimbursed a company controlled by the CFO a total of $ 3,000 (June 30, 2024 - $ 3,000 ) in office rent.

As at June 30, 2025, there were $ 55,700 balances

owing to related parties (June 30, 2024 - $ 3,500 ).

During the nine-month periods ended September 30, 2025 and 2024, the

Company entered into the following related party transactions:

Pursuant to a consulting agreement with an effective date of November 14, 2017, a total of $ 45,000 (September 30, 2024 - $ 45,000 ) was paid or accrued to the Company's CFO.

During the nine months ended September 30, 2025, the Company reimbursed a company controlled by the CFO a total of $ 4,500 (September 30, 2024 - $ 4,500 ) in office rent.

As at September 30, 2025, there were $ 105,700

balances owing to related parties (September 30, 2024 - $ 21,500 ).

Commitments and Contingency

As at June 30, 2025, the Company has the following commitments:

As at September 30, 2025, the Company has the following commitments:

Entered into a consulting agreement with an effective date of January 1, 2017 whereby the Company would pay the consultant $ 7,000 per month for providing research and development services.

1 unchanged sentence

Agreement renews annually unless otherwise terminated by either party with at least 30 days’ notice.

Subsequent Events

Subsequent to the quarter ended September 30, 2025, the Company:

Issued 1,500,000 shares of common stock at $ 0.01 to one of its consultants as payment for services rendered in the amount of $ 1,500 .

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