Alzamend Neuro, Inc.

ALZNdata completeness 63%7 fiscal years on file

Data notes: no data for concept 'revenue'; no data for concept 'capex'; no data for concept 'totalDebt'; no data for concept 'incomeTaxExpense'

The thesis, from the filings

Alzamend Neuro, Inc. earns about -473% on equity, and has bought back 96% of its shares over 5 years. 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

Figure	FY 2022	FY 2023	FY 2024	FY 2025	FY 2026
Revenue	—	—	—	—	—
Net income	−$12.4M¹	−$14.9M²	−$9.95M³	−$4.51M⁴	−$8.77M⁴
Operating cash flow	−$6.61M⁵	−$8.92M⁶	−$8.27M⁷	−$6.57M⁸	−$8.07M⁸
Capital expenditure	—	—	—	—	—
Free cash flow (derived)	—	—	—	—	—
Total debt	—	—	—	—	—
Cash & equivalents	$14.1M⁹	$5.14M¹⁰	$376,048¹¹	$3.95M¹²	$710,689¹²
Diluted shares	89.1M	650,126	74,174	450,799	3.3M

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

Net assets behind them

$2.2

your share of equity

Profit it earned you last year

−$26.29

Free cash flow it threw off

—

Debt you’d be carrying

—

10 shares is a claim on $2.2 of net worth that earned you −$26.29 last year.

iii. Is this a good business?

Moat signal · return on equity

-473% avg · 5y

FY22 -93%FY23 -489%FY24 —FY25 -114%FY26 -1196%

It earned an average -473% on equity over 5 years. Compare that to what it costs to fund the business.

seeing a moat in the numbers →

Management signal · capital allocation

−96% shares · 5y

Share count is down 96% over 5 years — management has been buying back stock, quietly handing owners a bigger slice.

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

10-K · period ending 2022-04-30 · accession 0001214659-23-010076 (NetIncomeLoss)
10-K · period ending 2023-04-30 · accession 0001214659-24-013191 (NetIncomeLoss)
10-K · period ending 2024-04-30 · accession 0001214659-25-010763 (NetIncomeLoss)
10-K · period ending 2025-04-30 · accession 0001214659-26-008832 (NetIncomeLoss)
10-K · period ending 2022-04-30 · accession 0001214659-23-010076 (NetCashProvidedByUsedInOperatingActivities)
10-K · period ending 2023-04-30 · accession 0001214659-24-013191 (NetCashProvidedByUsedInOperatingActivities)
10-K · period ending 2024-04-30 · accession 0001214659-25-010763 (NetCashProvidedByUsedInOperatingActivities)
10-K · period ending 2025-04-30 · accession 0001214659-26-008832 (NetCashProvidedByUsedInOperatingActivities)
10-K · period ending 2022-04-30 · accession 0001214659-23-010076 (CashAndCashEquivalentsAtCarryingValue)
10-K · period ending 2023-04-30 · accession 0001214659-24-013191 (CashAndCashEquivalentsAtCarryingValue)
10-K · period ending 2024-04-30 · accession 0001214659-25-010763 (CashAndCashEquivalentsAtCarryingValue)
10-K · period ending 2025-04-30 · accession 0001214659-26-008832 (CashAndCashEquivalentsAtCarryingValue)