One company met our criteria from the two 10-K annual reports filed with the SEC on 9 July 2026. To qualify, a company must have filed an annual 10-K report on the target date and have a prior-year 10-K available for a direct year-over-year comparison. A prior-year filing was not available for Barnes & Noble Education, Inc., so it is excluded from the ranking.
SEC What Changed Methodology
Each company is scored on how similar its current annual filing text is to the prior year. Scores run from 0 to 1 — a score of 1 means the language is essentially unchanged; a lower score means more has changed. We flag three sections that carry the most disclosure signal: Business, Risk Factors, and MD&A. Recent research suggests that lower scores indicate that a company has made significant changes to their filings, these changes are often buried in the filings. If a company was to report positive news, they would likely do so in the form of a press release or statement on their website. The large changers have often underperformed in the market, while the stable-language filers have earned positive abnormal returns.
Key Takeaways
- WidFit Inc. (High) — WidFit has moved from a shell-stage concept to an operating home services company, making execution and integration the key investor focus.
Ranking Table
| Rank | Company | CIK | Full Filing Similarity | Business Similarity | Risk Factors Similarity | MD&A Similarity | Most Changed Section | Assessment |
|---|---|---|---|---|---|---|---|---|
| 1 | WidFit Inc. | 1912954 | 0.995 | 0.979 | 0.951 | 0.996 | Risk Factors | high |
WidFit Inc.
| Rank | 1 |
|---|---|
| Lowest similarity section | Risk Factors |
| Assessment | high |
| SEC filings | 2026 10-K HTML/iXBRL (SEC page, raw text) | 2025 10-K HTML/iXBRL (SEC page, raw text) |
WidFit’s filing shows a dramatic change in what the company is. Instead of being a shell with no revenues and only a planned browser business, it now says it bought Liberty Home Services and operates through that subsidiary. The company also explicitly says it stopped being a shell company on December 1, 2025, which is a meaningful shift in its business profile.
Main Changes
- The company added a new business description stating that on December 1, 2025 it completed the acquisition of 100% of Liberty Home Services LLC, a Washington-based provider of home inspection services.
- It now says the company "operates through its wholly owned subsidiary, LHS," replacing the prior setup where WidFit was described as a development-stage company with no subsidiaries and no revenues.
- The filing adds a new "Former Shell Company Status" section stating WidFit was a shell company from inception through November 30, 2025 and "ceased to be a shell company" after the acquisition.
- The business section now frames the company around a real operating subsidiary rather than only a planned internet browser concept.
Watch Items
- This is a major strategic reset: investors should assess whether the acquired home services business can generate real revenue and cash flow versus the prior shell-company profile.
- Exiting shell status can improve marketability and reporting credibility, but it also raises execution risk because management must integrate and operate a live business.
- The shift away from a pre-revenue development-stage story may change valuation drivers from concept/speculation to operating performance and acquisition integration.
Important Filing Changes
In addition to diluting our then-existing shareholders, we may be obligated to pay a substantial amount of regular income to future investors, which would reduce our cash available for working capital. Equity interests in the subsidiaries of the Company, if any, may also be publicly or privately offered. Such offerings would have the effect of indirectly diluting members of the Company.
In addition to diluting our then-existing shareholders, we may be obligated to pay a substantial amount of regular income to future investors, which would reduce our cash available for working capital. Equity interests in the Company’s subsidiary, LHS, may also be publicly or privately offered. Such offerings would have the effect of indirectly diluting members of the Company.
They have very little experience, if any, related to public Company management or as a principal accounting officer. Because of this, the Company may be unable to develop our business or manage our public reporting requirements. The Company cannot guarantee that it will be able overcome any such obstacles.
They have very little experience, if any, related to public Company management or as a principal accounting officer. Because of this, the Company may be unable to offer and sell the shares in this offering, develop our business or manage our public reporting requirements. The Company cannot guarantee that it will be able overcome any such obstacles.
At December 31, 2024, our assets were $22,792 and our liabilities were $8,500. Our net loss for the period ended December 31, 2024, was $14,515 and for 2023, it was $7,560. OUR PLANNED INTERNET BROWSER We plan to develop an Internet browser that lets you choose how your data is used online.
BUSINESS General Business Development WidFit was incorporated on December 13, 2021. On December 1, 2025, the Company completed the acquisition of 100% of the membership interests of Liberty Home Services LLC (“LHS”), a Washington-based provider of home inspection services. Consequently, as of December 31, 2025, the Company operates through its wholly owned subsidiary, LHS.
Why SEC Filing Changes Matter
Research by Cohen et al. (Lazy Prices, 2020) — using the complete history of SEC filings from 1995 to 2014 — shows that when firms make active changes to their annual disclosures, those changes convey an important signal about future operations and returns. A portfolio that shorted "changers" and bought "non-changers" earned over 22% per year in annual alpha historically. Changes to the Risk Factors section, Business description, and language referring to the executive team were especially informative. Critically, these returns accrued gradually as information was later revealed through news and earnings — not at the time of filing — suggesting many investors remain inattentive to these simple, public signals. This snapshot is a starting point for deeper investigation, not a buy or sell recommendation.
For more like this, see the full SEC What Changed archive, browse more equity research reports, or subscribe to Quantitative Research Notes for new filing-change alerts as soon as they publish.
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