The Buried
Footnote Forensic Linguistics Analysis
on Corporate Disclosure Documents
Year-over-Year Drift BLDP
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Certainty language minus hedging language in Risk Factors. Positive = assertive, negative = hedging-heavy.

Not enough filings yet to chart a trajectory. The EKG fills in as more filings are ingested for this issuer.

Risk-factor drift item_1a vs prior same-form filing, cosine similarity

  • 40-F 2026-03-12 vs 2025-03-13 94.6% boilerplate
  • 40-F 2025-03-13 vs 2024-03-11 94.9% boilerplate
  • 40-F 2024-03-11 vs 2023-03-17 77.2% noticeable change
  • 40-F 2023-03-17 vs 2022-03-14 82.6% noticeable change

Balance-sheet trends inventory, receivables, reserves & impairment vs prior year

  • Inventory building faster than sales FY 2024-12-31
    inventory +23% vs revenue -32% · DIO 134.8→224.5 days
  • Goodwill impairment charge FY 2024-12-31
    $40.28M charge · +5% of assets
  • Goodwill impairment charge FY 2023-12-31
    $23.99M charge · +2% of assets
  • Goodwill impairment charge FY 2023-12-31
    $23.99M charge · +2% of assets
  • Inventory building faster than sales FY 2022-12-31
    inventory +13% vs revenue -22% · DIO 207.8→222.6 days
  • Inventory building faster than sales FY 2021-12-31
    inventory +81% vs revenue +1% · DIO 125.6→207.8 days

Balance-sheet language forensic risk vocabulary shifting in MD&A / financials vs prior year

  • Inventory risk language
    density 0.8→1.33 / 10k chars (15→19 mentions)