What changed in this filing

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Item 1. Financial Statements

2026-08-14 compared with 2026-05-15 · 165 added, 68 removed, 331 unchanged (41% of the section changed)

3 unchanged sentences

CONDENSED CONSOLIDATED BALANCE SHEETS

As of March 31,

As of June 30,

As of December 31,

2 unchanged sentences

Investment securities

Trade accounts receivable, less allowance for doubtful accounts of $ 8,300 at March 31, 2026 and December 31, 2025

Trade accounts receivable, less allowance for doubtful accounts of $ 8,300 at June 30, 2026 and December 31, 2025

Income tax receivable

18 unchanged sentences

30,000,000 shares authorized;

11,928,599 shares issued and outstanding at March 31, 2026 and December 31, 2025

11,928,599 shares issued and outstanding at June 30, 2026 and December 31, 2025

Additional paid-in capital

Accumulated other comprehensive income (loss)

Accumulated other comprehensive income

Accumulated deficit

7 unchanged sentences

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

For the Three Months

Ended March 31,

For the Three Months Ended June 30,

For the Six Months Ended June 30,

Cost of revenues

6 unchanged sentences

( 1,819,500 )

( 2,940,600 )

( 3,910,200 )

Other income:

2 unchanged sentences

Total other income, net

Loss from continuing operations before income tax expense

Loss from operations before income tax expense

( 1,233,800 )

( 1,796,800 )

( 2,823,100 )

( 3,854,900 )

Income tax expense

Total income tax expense

Loss from continuing operations

1 unchanged sentence

( 1,796,800 )

$ ( 2,823,100 )

$ ( 3,854,900 )

Discontinued Operations:

2 unchanged sentences

$ ( 1,523,700 )

Other comprehensive gain (loss):

$ ( 2,823,100 )

$ ( 3,302,200 )

Comprehensive gain (loss):

Foreign currency translation gain (loss)

Other comprehensive gain (loss)

Comprehensive gain (loss)

Total comprehensive loss

1 unchanged sentence

( 1,368,500 )

$ ( 2,867,500 )

$ ( 3,022,600 )

Basic and Diluted income (loss) per common share:

9 unchanged sentences

Shareholders’

Income (Loss)

Balance December 31, 2025

6 unchanged sentences

$ ( 36,740,200 )

( 1,233,800 )

$ ( 1,233,800 )

Foreign currency translation adjustment

Stock-based compensation

Balance June 30, 2026

$ ( 37,974,000 )

Comprehensive

Shareholders’

Income (Loss)

Balance December 31, 2024

9 unchanged sentences

$ ( 35,709,000 )

Loss from continuing operations

( 1,796,800 )

Income from discontinued operations

Issuance of Common Stock and Warrants, net of issuance costs (Note 7)

Foreign currency translation adjustment

Stock-based compensation

Balance June 30, 2025

$ ( 37,232,700 )

See notes to unaudited condensed consolidated financial statements

2 unchanged sentences

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

For the Three Months Ended March 31,

For the Six Months Ended June 30,

Operating activities:

5 unchanged sentences

$ ( 3,854,900 )

Adjustments to reconcile net loss to net cash used in operating activities:

Adjustments to reconcile net loss from continuing operations to net cash used in operating activities:

Depreciation and amortization

8 unchanged sentences

Accrued expenses

Contract liabilities

Lease liabilities

1 unchanged sentence

( 1,897,600 )

( 3,204,500 )

Investing activities:

3 unchanged sentences

Net cash provided by investing activities

Financing activities:

Proceeds from issuance of common stock

Net cash provided by financing activities

Discontinued Operations:

Net cash provided by discontinued operations

Net cash (used in) provided by discontinued operations

Net change in cash and cash equivalents

Effect of changes in foreign currency exchange rates on cash and cash equivalents

Net decrease in cash and cash equivalents

Net (decrease) increase in cash and cash equivalents

Cash and cash equivalents, beginning of period

Cash and cash equivalents, end of period

SUPPLEMENTAL DISCLOSURES:

Noncash financing activities

Record right-of-use assets

Record lease liabilities

See notes to unaudited condensed consolidated financial statements

13 unchanged sentences

These interim statements should be read in conjunction with the Company’s consolidated financial statements and notes thereto, included in its Annual Report on Form 10-K for the fiscal year ended December 31, 2025.

The results for the three months ended March 31, 2026, are not necessarily an indication of the results for the full fiscal year ending December 31, 2026.

The results for the six months ended June 30, 2026, are not necessarily an indication of the results for the full fiscal year ending December 31, 2026.

Significant Accounting Policies

9 unchanged sentences

Liquidity and Going Concern Considerations

The Company has evaluated whether there are certain conditions and events, considered in the aggregate, that raise substantial doubt about the Company’s ability to continue as a going concern within one year after the date the Unaudited Condensed Consolidated Financial Statements are issued.

The Company has evaluated whether there are certain conditions and events, considered in the aggregate, that raise substantial doubt about the Company’s ability to continue as a going concern for at least one year after the date the Unaudited Condensed Consolidated Financial Statements are issued.

The Company has recorded recurring losses from operations and continued cash outflow from operating activities as a result of its strategic focus on the Bioprocessing Systems Operations, which is still in its start-up stage.

Historically the Company has relied on equity financings to support its business operations.

For the three months ended March 31, 2026, the Company generated negative cash flows from operations of $ 993,500 .

The Company has an accumulated deficit of $ 36,740,200 as of March 31, 2026, and expects to continue to generate negative cash flows from operations in the foreseeable future.

However, based on management’s current operating plan, the Company expects that the cash generated from the Laboratory Equipment Operations’ Genie Division sale during fiscal 2025 (refer to Note 10), plus other incoming cash related to the various post Genie Division-sale agreements and escrow account, is sufficient to support business operations for at least one year from the date of issuance of the Unaudited Condensed Consolidated Financial Statements for the three months ended March 31, 2026.

For the six months ended June 30, 2026, the Company generated negative cash flows from operations of $ 1,897,600 .

The Company has an accumulated deficit of $ 37,974,000 as of June 30, 2026, and expects to continue to generate negative cash flows from operations in the foreseeable future;

however, based on management’s current operating plan, the Company expects that the cash generated from the Laboratory Equipment Operations’ Genie Division sale during fiscal 2025 (refer to Note 11), plus other incoming cash related to the various post Genie Division-sale agreements and escrow account, is sufficient to support business operations for at least one year from the date of issuance of the Unaudited Condensed Consolidated Financial Statements for the six months ended June 30, 2026;

however, there is no assurance that management’s current operating plan will be successful.

New Accounting Pronouncements

In July 2025, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2025-05, “Financial Instruments - Credit Losses (Topic 326):

In July 2025, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No.

(“ASU”) 2025-05, “Financial Instruments - Credit Losses (Topic 326):

Measurements of Credit Losses for Accounts Receivable and Contract Assets”, which provides a practical expedient related to the estimation of expected credit losses for current accounts receivable and current contract assets that arise from transactions accounted for under Accounting Standards Codification (“ASC 606”), “Revenue from Contracts with Customers”.

Under ASU 2025-05, an entity is required to disclose whether it has elected to use the practical expedient.

An entity that makes the accounting policy election is required to disclose the date through which subsequent cash collections are evaluated.

The practical expedient allows entities to assume that current conditions as of the balance sheet date remain unchanged over the remaining life of the asset .

ASU 2025-05 became effective for annual reporting periods beginning after December 15, 2025, and interim reporting periods within those annual reporting periods.

The Company implemented this pronouncement beginning January 1, 2026, which had no material impact on the Company’s Unaudited Condensed Consolidated Financial Statements.

The Company implemented this pronouncement beginning January 1, 2026 and elected to apply the practical expedient which had no material impact on the Company’s Unaudited Condensed Consolidated Financial Statements.

In December 2025, the FASB issued ASU 2025-11, “Interim Reporting (Topic 270)”, which is intended to improve the navigability of the guidance in ASC 270, “Interim Reporting”, and clarify when it applies.

6 unchanged sentences

2024-03, Disaggregation of Income Statement Expenses , which requires disclosures of certain additional expense information on an annual and interim basis, including, among other items, the amounts of purchases of inventory, employee compensation, depreciation and intangible asset amortization included within each income statement expense caption, as applicable.

The updated standard is effective for our annual periods beginning in fiscal year 2026 and interim periods beginning in the first quarter of fiscal year 2027.

ASU 2024-03 is effective for fiscal years beginning after December 15, 2026 and interim periods beginning after December 15, 2027, with early adoption permitted, and should be applied either on a prospective basis or retrospective basis.

The Company is currently evaluating the impact of this guidance but does not anticipate a material impact on its condensed consolidated financial statements or related disclosures.

1 unchanged sentence

Use of Estimates

The prepared of financial statements in conformity with U.S.

The preparation of unaudited financial statements in conformity with U.S.

GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, costs and expenses and related disclosures in the accompanying notes.

14 unchanged sentences

These calculations take into consideration the credit risk of both the Company and its counterparties.

For Level 3 investments, where observable inputs are not available, the fair value was determined based on the price at which shares were purchased and redeemed as of March 31, 2026, by the funds.

The investments which seek high current income, comprising of private credit funds which deal in first lien senior secured debt and asset-based lending in the United States that are issued in private offerings.

The Company has not changed its valuation techniques in measuring the fair value of any financial assets and liabilities during the three month period ended March 31, 2026.

For Level 3 investments, where observable inputs are not available, the fair value was determined based on the price at which shares were purchased and redeemed as of June 30, 2026, by the funds.

The investments which seek high current income, comprised of private credit funds which deal in first lien senior secured debt and asset-based lending in the United States that are issued in private offerings.

The Company has not changed its valuation techniques in measuring the fair value of any financial assets and liabilities during the three-month period ended June 30, 2026.

The carrying amounts of cash, cash equivalents, accounts receivable, and accounts payable approximate their fair value due to their short-term maturity and insignificant risk of value changes.

The following tables set forth by level within the fair value hierarchy, the Company’s financial assets that were accounted for at fair value on a recurring basis as of March 31, 2026, and December 31, 2025, according to the valuation techniques the Company used to determine their fair values:

Fair Value Measurement as of March 31, 2026

The following tables set forth by level within the fair value hierarchy, the Company’s financial assets that were accounted for at fair value on a recurring basis as of June 30, 2026, and December 31, 2025, according to the valuation techniques the Company used to determine their fair values:

Fair Value Measurement as of June 30, 2026

Investment securities:

3 unchanged sentences

Private Credit Funds

Investments in marketable securities by security type as of March 31, 2026, and December 31, 2025, consisted of the following:

As of March 31, 2026:

Investments in marketable securities by security type as of June 30, 2026, and December 31, 2025, consisted of the following:

As of June 30, 2026:

Private Credit Funds

1 unchanged sentence

Private Credit Funds

The table below presents a reconciliation of all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the periods ended March 31, 2026 and December 31, 2025.

The table below presents a reconciliation of all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the six months ended June 30, 2026 and for the year ended December 31, 2025.

Balance of recurring Level 3 assets at beginning of period

4 unchanged sentences

Inventories of the Company are as follows:

March 31, 2026

June 30, 2026

December 31, 2025

7 unchanged sentences

Goodwill represents the excess of the purchase price over the fair value of the net assets acquired in connection with the Company’s acquisitions.

Goodwill amounted to $ 115,300 as of March 31, 2026, and December 31, 2025, all of which is expected to be deductible for tax purposes.

Goodwill amounted to $ 115,300 as of June 30, 2026, and December 31, 2025, all of which is expected to be deductible for tax purposes.

Finite lived intangible assets are as follows:

As of March 31, 2026

As of June 30, 2026

Technology, trademarks

7 unchanged sentences

Non-compete agreements

Total amortization expense was $ 11,500 and $ 126,000 for the three months ended March 31, 2026, and March 31, 2025, respectively.

Estimated future fiscal year amortization expense of intangible assets as of March 31, 2026, is as follows:

As of March 31, 2026

Total amortization expense was $ 22,500 and $ 221,400 for the six months ended June 30, 2026, and June 30, 2025, respectively.

Estimated future fiscal year amortization expense of intangible assets as of June 30, 2026, is as follows:

As of June 30, 2026

Remainder of year ending 2026

5 unchanged sentences

If the Company determines that an unfavorable outcome is probable and can be reasonably assessed, it establishes the necessary accruals.

As of March 31, 2026 and December 31, 2025, the Company is not aware of any contingent legal liabilities that should be reflected in the consolidated financial statements.

The Company’s approximate future minimum rental payments under all operating leases as of March 31, 2026, were as follows:

As of March 31, 2026:

As of June 30, 2026 and December 31, 2025, the Company is not aware of any contingent legal liabilities that should be reflected in the unaudited consolidated financial statements.

The Company’s approximate future minimum rental payments under all operating leases as of June 30, 2026, were as follows:

As of June 30, 2026:

Remainder of fiscal year ending 2026

7 unchanged sentences

Nonstatutory stock options shall be granted at the fair market value of the shares of Common Stock on the date of grant.

As of March 31, 2026, 2,643,000 shares of Common Stock were available for grant of options under the 2022 Plan

As of June 30, 2026, there were 2,616,374 shares of Common Stock available for grant of options under the 2022 Plan.

Grants of Incentive and Nonstatutory Stock Options

On February 17, 2026, as part of the Company’s strategic initiatives to reduce operating costs and conserve cash for operations and annual management and Board compensation reviews, the Company granted an aggregate of 1,112,000 ten-year options at an exercise price of $ 0.60 of which 535,000 vest over a four year cliff schedule and 577,000 , the majority of which were granted in lieu of cash salary and fees foregone by executives and the Board of Directors, vest monthly over twelve months.

On February 17, 2026, as part of the Company’s strategic initiatives to reduce operating costs and conserve cash for operations and annual management and Board compensation reviews, the Company granted an aggregate of 1,112,000 10 -year options at an exercise price of $ 0.60 of which 535,000 vest 100 % on February 17, 2030 and 577,000 of which vest monthly over twelve months, the majority of which were granted in lieu of cash salary and fees foregone by executives and the Board of Directors.

The options were valued at $ 556,000 on the grant date using the Black-Scholes-Merton option pricing model, recorded as stock-based compensation during the applicable period.

1 unchanged sentence

These stock options have a 10 -year life, an exercise price of $ 0.65 , vest 100 % one year after the grant date, and valued at $ 9,750 for Blechman, Cox and Nicols and $ 6,500 for Schumacher on the grant date using the Black-Scholes-Merton option pricing model.

On May 13, 2025, in connection with the Company’s annual compensation reviews for its management and key employees, the Company granted an aggregate of 376,907 ten-year options at an exercise price of $ 1.00 of which vesting over a four year cliff schedule, valued at $ 237,500 on the grant date using the Black-Scholes-Merton option pricing model, recorded as stock-based compensation during the applicable period.

The following table summarizes the Company’s stock options activity after March 31, 2026:

On May 13, 2025, in connection with the Company’s annual compensation reviews for its management and key employees, the Company granted an aggregate of 376,907 10 -year options at an exercise price of $ 1.00 , vesting 100 % four years after the grant date, valued at $ 237,500 on the grant date using the Black-Scholes-Merton option pricing model, recorded as stock-based compensation during the applicable period.

The following table summarizes the Company’s stock options activity for the six months ended June 30, 2026:

Number of Options

2 unchanged sentences

Outstanding at December 31, 2025

Outstanding at March 31, 2026

Stock compensation expense related to stock options of $ 116,300 and $ 302,600 was incurred for the three ended March 31, 2026 and 2025, respectively.

Outstanding at June 30, 2026

Stock compensation expense related to stock options of $ 278,800 and $ 375,200 was incurred for the six months ended June 30, 2026 and 2025, respectively.

Loss Per Common Share

3 unchanged sentences

The following table sets forth the weighted average number of common shares outstanding for each period presented.

For the three months ended March 31,

For the three months ended

For the six months ended

Basic and Diluted Earnings per share:

Loss from continuing operations

( 1,233,800 )

( 1,796,800 )

( 2,823,100 )

( 3,854,900 )

Income from discontinued operations, net of taxes

Weighted average number of common shares outstanding

Effect of dilutive securities:

Weighted average number of common shares outstanding

Weighted average number of dilutive common shares outstanding

Basic and diluted loss per common share:

2 unchanged sentences

Consolidated operations

Approximately 3,353,144 and 8,111,660 shares of the Company’s common stock issuable upon the exercise of stock options and warrants, respectively, were excluded from the calculation because the effect would be anti-dilutive due to the loss for the three months ended March 31, 2026.

Approximately 1,831,447 and 8,232,510 shares of the Company’s common stock issuable upon the exercise of stock options and warrants, respectively, were excluded from the calculation because the effect would be anti-dilutive due to the loss for the three months ended March 31, 2025.

Approximately 3,326,518 and 7,627,350 shares of the Company’s common stock issuable upon the exercise of stock options and warrants, respectively, were excluded from the calculation because the effect would be anti-dilutive due to the loss for the six months ended June 30, 2026.

Approximately 2,195,021 and 9,536,660 shares of the Company’s common stock issuable upon the exercise of stock options and warrants, respectively, were excluded from the calculation because the effect would be anti-dilutive due to the loss for the six months ended June 30, 2025.

No options and warrants were excluded from the calculation for Discontinued operations because the effect of such securities is anti-dilutive because they are out of the money.

1 unchanged sentence

Consulting Agreements

The Company has consulting agreement with John Nicols, a Director of the Company since September 2023 for services provided to the Bioprocessing Systems segment.

The Company has a consulting agreement with John Nicols, a Director of the Company since September 2023 for services provided to the Bioprocessing Systems Operations segment.

Effective February 1, 2026 Mr.

Nicols agreed to reduce his monthly consulting fee by 50% to $4,000 per month for a twelve month period beginning February 1, 2026 .

During the three months ended March 31, 2026, and March 31, 2025, the Company paid $ 16,000 , of which $ 12,000 was fully paid and $ 4,000 resided in Accounts Payable, and $ 24,000 , respectively, to Mr.

During the six months ended June 30, 2026 and 2025, the Company paid $ 28,000 and $ 48,000 , respectively, to Mr.

Segment Information and Concentration

4 unchanged sentences

Segment information is reported as follows:

Three Months Ended March 31, 2026

Three Months Ended June 30, 2026

Benchtop Laboratory Equipment

2 unchanged sentences

Foreign Sales

Gain (Loss) From Operations

( 1,071,000 )

( 1,272,800 )

Long-Lived Asset Expenditures

Depreciation and Amortization

Three Months Ended June 30, 2025

Benchtop Laboratory Equipment

Bioprocessing Systems

Corporate and Other

Foreign Sales

Loss From Operations

3 unchanged sentences

Depreciation and Amortization

Three Months Ended March 31, 2025

For the three months ended June 30, 2026, two customers accounted for approximately 49 % of the Company’s total revenue.

For the three months ending June 30, 2025, one customer accounted for approximately 10 % of the Company’s total revenue.

For the three months ended June 30, 2026, one vendor accounted for approximately 11 % of the Company’s total purchases.

For the three months ending June 30, 2025, there was no vendor concentration.

Six Months Ended June 30, 2026

Benchtop Laboratory Equipment

7 unchanged sentences

Depreciation and Amortization

For the three months ending March 31, 2026, one customer accounted for approximately 12 % of the Company’s total revenue.

For the three months ending March 31, 2025, two customers accounted for approximately 10 % of the Company’s total revenue.

For the three months ending March 31, 2026, one vendor accounted for approximately 19 % of the Company’s total purchases.

For the three months ending March 31, 2025, one vendor accounted for approximately 15 % of the Company’s total purchases.

A reconciliation of the Company’s consolidated segment loss from operations to consolidated loss from operations before discontinued operations and income taxes for the three months ended March 31, 2026 and 2025, respectively are as follows:

Three Months Ended March 31, 2026

Six Months Ended June 30, 2025

Benchtop Laboratory Equipment

1 unchanged sentence

Corporate and Other

Foreign Sales

Loss From Operations

1 unchanged sentence

( 3,910,200 )

Long-Lived Asset Expenditures

Depreciation and Amortization

For the six months ended June 30, 2026, two customers accounted for approximately 35 % of the Company’s total revenue.

For the six months ending June 30, 2025, one customer accounted for approximately 10 % of the Company’s total revenue.

For the six months ended June 30, 2026, one vendor accounted for approximately 16 % of the Company’s total purchases.

For the six months ending June 30, 2025, there was no vendor concentration.

A reconciliation of the Company’s consolidated segment loss from operations to consolidated loss from operations before discontinued operations and income taxes for the three months and six months ended June 30, 2026 and 2025, respectively are as follows:

Three Months Ended June 30, 2026

Benchtop Laboratory Equipment

Bioprocessing Systems

Corporate and Other

Gain (loss) From Operations

( 1,071,000 )

3 unchanged sentences

Total other income, net

Gain (loss) from operations before discontinued operations and income taxes

$ ( 1,076,900 )

$ ( 214,400 )

$ ( 1,233,800 )

Three Months Ended June 30, 2025

Benchtop Laboratory Equipment

Bioprocessing Systems

Corporate and Other

Loss From Operations

( 1,459,600 )

( 1,819,500 )

Other income (expense), net

Interest income

Total other income, net

Loss from operations before discontinued operations and income taxes

3 unchanged sentences

$ ( 1,796,800 )

Three Months Ended March 31, 2025

Six Months Ended June 30, 2026

Benchtop Laboratory Equipment

4 unchanged sentences

( 2,940,600 )

Other (expense) income, net

Interest income

Total other income, net

Loss from operations before discontinued operations and income taxes

$ ( 140,000 )

$ ( 2,165,100 )

$ ( 518,000 )

$ ( 2,823,100 )

Six Months Ended June 30, 2025

Benchtop Laboratory Equipment

Bioprocessing Systems

Corporate and Other

Loss From Operations

( 2,894,700 )

( 3,910,200 )

Other income (expense), net

5 unchanged sentences

$ ( 786,000 )

$ ( 3,854,900 )

Discontinued Operations

1 unchanged sentence

The purchase price consisted of $ 9,600,000 less certain working capital adjustments plus an earn-out up to an aggregate of $ 1,500,000 , of which $ 1,140,000 is guaranteed if the Seller performs certain obligations under a separate Manufacturing and Supply Agreement (“MSA”) and a separate Transition Services Agreements (“TSA”), under which the Company will supply products previously produced by the Genie Division to the Buyer for a period of up to twelve months, plus transition services which include training and transfer of knowhow by the Company to the Buyer.

The amounts earned by the Company under MSA and TSA are recorded as earned based on the contractual services performed and are recorded as a reduction of its operating expenses which amounted to $ 180,000 during the three month period ended March 31, 2026.

As of March 31, 2026, the Current Assets for Discontinued Operations of $ 280,500 reflect a receivable from the Buyer while the Current Liabilities for Discontinued Operations of $ 89,100 reflect a payable to the Buyer.

The amounts earned by the Company under MSA and TSA are recorded as earned based on the contractual services performed and are recorded as a reduction of its operating expenses which amounted to $ 180,000 and $ 360,000 during the three and six month periods ended June 30, 2026, respectively

As of June 30, 2026, the Current Assets for Discontinued Operations of $ 490,400 reflect a receivable from the Buyer while the Current Liabilities for Discontinued Operations of $ 75,500 reflect a payable to the Buyer.

The following is the breakdown of the income generated from discontinued operations.

6 unchanged sentences

Income from discontinued operations

In our Unaudited Condensed Consolidated Statements of Cash Flows, the cash provided by operating activities from discontinued operations for three months ended March 31, 2026 and 2025 was $ 69,200 and $ 191,100 , respectively.

For the six months ended

Cost of Goods Sold

Operating Expenses:

General and Administrative

Research and Development

Total Expenses

Income from discontinued operations

In our Unaudited Condensed Consolidated Statements of Cash Flows, the cash (used in) provided by operating activities from discontinued operations for six months ended June 30, 2026 and 2025 was ($ 154,300 ) and $ 441,600 , respectively.

Subsequent Events

The Company evaluated subsequent events through May 15, 2026 and noted no events requiring disclosure or recognition.

Effective July 30th, the Company entered into a second amendment with its landlord for the Bohemia premises to among other things, reduce the space by 5,003 feet through a voluntary surrender, provide the Company the ability to sublease additional 5,000 square feet, and extend the lease through October 2031.

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