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 transformed from a shell into an operating home services company, so the key question is whether the acquired business can deliver real revenue and cash flow.
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 shift in identity. The company says it bought Liberty Home Services and now operates through that subsidiary, while also disclosing that it is no longer a shell company. That means the investment case has moved from a blank-check style development story to a real operating business that now has to perform.
Main Changes
- The company now says it completed the acquisition of 100% of Liberty Home Services LLC on December 1, 2025, and "operates through its wholly owned subsidiary, LHS."
- It adds a new disclosure that WidFit "ceased to be a shell company" on December 1, 2025 after the acquisition.
- The business description shifts from a development-stage internet browser concept to a Washington-based provider of "residential home services" through LHS.
- The filing also adds a new section on "Former Shell Company Status," which was not present before.
Watch Items
- This is a major strategy reset: investors should now evaluate WidFit as an operating home services business rather than a pre-revenue shell.
- Exiting shell status can improve marketability and reporting profile, but it also raises execution risk because the company must prove the acquired business can generate sustainable revenue and cash flow.
- The acquisition may change the company’s risk mix materially, including integration, customer concentration, and operating leverage at the subsidiary level.
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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