olo-sec-scanner

# SEC Filing Scanner for M&A

Extract and analyze SEC EDGAR filings for acquisition due diligence.

## Data Source

SEC EDGAR API (free, no API key, 10 req/sec rate limit):
- Company Facts: `https://data.sec.gov/api/xbrl/companyfacts/CIK{cik}.json`
- Submissions: `https://data.sec.gov/submissions/CIK{cik}.json`
- Full-Text Search: `https://efts.sec.gov/LATEST/search-index?q=...`

## Filing Types & M&A Relevance

| Filing | Use Case |
|--------|----------|
| 10-K | Annual financials, risk factors, segment data, legal proceedings |
| 10-Q | Quarterly trends, interim changes, going concern flags |
| 8-K | Material events: acquisitions, dispositions, leadership changes, restatements |
| DEF 14A | Executive comp, related-party transactions, governance |
| SC 13D/G | Activist positions, ownership changes above 5% |
| Form 4 | Insider buying/selling patterns (signal conviction) |
| Form D | Private placement activity (pre-IPO targets) |

## Extraction Framework

### 1. Financial Extraction (from XBRL)
- Revenue (3-5 year trend from `Revenues` or `RevenueFromContractWithCustomerExcludingAssessedTax`)
- EBITDA (computed: `OperatingIncome` + `DepreciationAndAmortization`)
- Net income, EPS, diluted shares
- Total assets, total liabilities, stockholders' equity
- Operating cash flow, CapEx, free cash flow
- Segment revenue breakdown (if multi-segment)

### 2. Risk Factor Analysis (from 10-K Item 1A)
- Categorize risks: market, operational, regulatory, financial, legal, technology
- Flag risks mentioning: litigation, regulatory investigation, material weakness, going concern
- Compare risk factors year-over-year to detect new disclosures
- Score overall risk severity (low / moderate / elevated / high)

### 3. Material Event Detection (from 8-K)
- Item 1.01: Entry into material agreement
- Item 2.01: Completion of acquisition or disposition
- Item 2.05: Costs of restructuring
- Item 4.01: Change in accountant (red flag)
- Item 5.02: Departure of directors/officers
- Item 8.01: O...