The Buried
Footnote Forensic Linguistics Analysis
on Corporate Disclosure Documents
Year-over-Year Drift GOLD
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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 2026-02-27 vs 2025-03-14 99.6% boilerplate
  • 40-F 2025-03-14 vs 2024-03-15 99.2% boilerplate
  • 40-F 2024-03-15 vs 2023-03-17 99.5% boilerplate
  • 40-F 2023-03-17 vs 2022-03-18 99.7% boilerplate

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

  • Impairment risk language + numbers
    density 1.52→4.88 / 10k chars (59→110 mentions) · new: impaired, recoverability, indicators of impairment, fair value less costs
  • Inventory risk language
    density 0.21→0.49 / 10k chars (8→11 mentions) · new: obsolete, lower of cost, inventory provision
  • Impairment risk language + numbers
    density 0.56→1.49 / 10k chars (26→70 mentions) · new: write-off