OLENOX INDUSTRIES INC. referenced accounting standard ASU 2023-08 for the first time
The Company adopted ASU 2023-08, Intangibles — Goodwill and Other — Crypto Assets (Subtopic 350-60): Accounting for and Disclosure of Crypto Assets, effective January 1, 2025.
Evidence
Adopted
['2023-08']
Contexts
['The Company adopted ASU 2023-08, Intangibles — Goodwill and Other — Crypto Assets (Subtopic 350-60): Accounting for and Disclosure of Crypto Assets, effective January 1, 2025.']
OLENOX INDUSTRIES INC. changed its revenue recognition disclosure
Crypto mining revenue The Company operates bitcoin mining equipment that it owns and participates in third-party mining pools under contractual arrangements whereby its mining equipment contributes computing power to the Bitcoin network in exchange for bitcoin rewards.
Evidence
Prior filed
2026-07-31
Prior form
10-Q
Similarity
0.562
Source
revenue recognition note comparison
Threshold
0.6
Why
The revenue recognition policy disclosure changed materially from the previous comparable filing.
Language present now, absent from the prior filing:
Crypto mining revenue The Company operates bitcoin mining equipment that it owns and participates in third-party mining pools under contractual arrangements whereby its mining equipment contributes computing power to the Bitcoin network in exchange for bitcoin rewards.
The Company’s performance obligation is satisfied as hash computation services are provided to the mining pool operators.
OLENOX INDUSTRIES INC. filed its quarterly report late and said it expects a significant change in results
expects significant change in results
(the “Registrant”) was unable, without unreasonable effort or expense, to file its Quarterly Report on Form 10-Q for the period ended June 30, 2026 (the “Quarterly Report”) by the August 14, 2026 filing date applicable to smaller reporting companies due to a delay experienced by the Registrant in completing its financial statements and other disclosures in the Quarterly Report. As a result, the Registrant is still in the process of compiling required information to complete the Quarterly Report and requires additional time to complete its review of the financial statements for the period ended June 30, 2026 to be incorporated in the Quarterly Report. The Registrant anticipates that it will f
Evidence
Anticipates significant change
True
Other periodic reports filed
True
Severity
high
Source
Form 12b-25 (notification of late filing)
Stated reason
(the “Registrant”) was unable, without unreasonable effort or expense, to file its Quarterly Report on Form 10-Q for the period ended June 30, 2026 (the “Quarterly Report”) by the August 14, 2026 filing date applicable to smaller reporting companies due to a delay experienced by the Registrant in completing its financial statements and other disclosures in the Quarterly Report. As a result, the Registrant is still in the process of compiling required information to complete the Quarterly Report and requires additional time to complete its review of the financial statements for the period ended June 30, 2026 to be incorporated in the Quarterly Report. The Registrant anticipates that it will f
Why
The company told the SEC it could not file a periodic report on time, using Form 12b-25.