MeritValue

AI Era Corp.

AERAdata completeness 75%12 fiscal years on file

Data notes: no data for concept 'totalDebt'

The thesis, from the filings

AI Era Corp. earns about -79% on invested capital, but has diluted owners by 2363% over 5 years — worth asking whether the growth reaches owners. The cash-flow models don't apply cleanly here — the ledger says why below.Whether it’s worth owning at today’s price is the last question — and yours to answer, below.

i. The business — what you’d actually own
FigureFY 2021FY 2022FY 2023FY 2024FY 2025
Revenue$115,0911$2.93M2$250,0003$1.33M4$1.18M4
Net income−$3.58M5−$2.17M6−$3.57M7$542,3318$1.46M8
Operating cash flow−$5.14M9−$1.5M10−$553,48911$162,31912−$2.32M12
Capital expenditure—————
Free cash flow (derived)—————
Total debt—————
Cash & equivalents$132,25313$84,22314$117,09615$64,43015$13,69115
Diluted shares194.6M290.7M866.5M2.29B4.79B

Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).

ii. Your slice — ownership made literal
If you owned
shares
Net assets behind them
$0.01
your share of equity
Profit it earned you last year
$0
Free cash flow it threw off
—
Debt you’d be carrying
—

10 shares is a claim on $0.01 of net worth that earned you $0 last year.

iii. Is this a good business?
Moat signal · return on invested capital
-79% avg · 5y
FY21 -61%FY22 -44%FY23 -363%FY24 33%FY25 40%

It earned an average -79% on invested capital over 5 years. Compare that to what it costs to fund the business.

seeing a moat in the numbers →
Management signal · capital allocation
+2363% shares · 5y

Share count is up 2363% over 5 years — owners have been diluted. Worth asking what they got for it.

reading capital allocation →

Signals, not verdicts — read from the filings above. Numbers don’t prove a moat; they show its footprint. You decide.

iv. What it’s worth — engine v0.1.0
DCF · Growth Exit 10Y
not applicable
only 0 years of FCF (need ≥3) — model not applicable
DCF · Growth Exit 5Y
not applicable
only 0 years of FCF (need ≥3) — model not applicable
Earnings Power Value
not applicable
normalized (5y-median) earnings non-positive — EPV undefined
Graham Number
not applicable
diluted EPS missing or non-positive — Graham Number undefined

Different models answer different questions — which to trust when →

Sources — the receipts
  1. 10-K · period ending 2021-08-31 · accession 0001663577-22-000689 (RevenueFromContractWithCustomerIncludingAssessedTax)
  2. 10-K · period ending 2022-08-31 · accession 0001663577-23-000552 (RevenueFromContractWithCustomerIncludingAssessedTax)
  3. 10-K · period ending 2023-08-31 · accession 0001663577-24-000297 (RevenueFromContractWithCustomerIncludingAssessedTax)
  4. 10-K · period ending 2024-08-31 · accession 0001663577-25-000338 (RevenueFromContractWithCustomerExcludingAssessedTax)
  5. 10-K · period ending 2021-08-31 · accession 0001663577-22-000689 (NetIncomeLoss)
  6. 10-K · period ending 2022-08-31 · accession 0001663577-23-000552 (NetIncomeLoss)
  7. 10-K · period ending 2023-08-31 · accession 0001663577-24-000297 (NetIncomeLoss)
  8. 10-K · period ending 2024-08-31 · accession 0001663577-25-000338 (NetIncomeLoss)
  9. 10-K · period ending 2021-08-31 · accession 0001663577-22-000689 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K · period ending 2022-08-31 · accession 0001663577-23-000552 (NetCashProvidedByUsedInOperatingActivities)
  11. 10-K · period ending 2023-08-31 · accession 0001663577-24-000297 (NetCashProvidedByUsedInOperatingActivities)
  12. 10-K · period ending 2024-08-31 · accession 0001663577-25-000338 (NetCashProvidedByUsedInOperatingActivities)
  13. 10-K · period ending 2021-08-31 · accession 0001663577-22-000024 (CashAndCashEquivalentsAtCarryingValue)
  14. 10-K · period ending 2022-08-31 · accession 0001663577-24-000297 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)
  15. 10-K · period ending 2023-08-31 · accession 0001663577-25-000338 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)