MeritValue

Accredited Solutions, Inc.

ASIIdata completeness 75%16 fiscal years on file

Data notes: no data for concept 'totalDebt'

The thesis, from the filings

Accredited Solutions, Inc. earns about -33196% on equity, but has diluted owners by 34666% 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 2019FY 2020FY 2021FY 2022FY 2023
Revenue$259,9621$415,7962$03$483,0364$688,8754
Net income−$1.7M5−$1.46M6−$307−$31,6888−$1.49M8
Operating cash flow−$463,4879−$121,52210−$3011−$233,52612−$81,45812
Capital expenditure—$013$47,00013——
Free cash flow (derived)—−$121,52210−$47,03011——
Total debt—————
Cash & equivalents$48,08814$59,86814$20,16015$35,96815$91915
Diluted shares2.0M22.3M102.5M339.3M678.8M

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
−$0.07
your share of equity
Profit it earned you last year
−$0.02
Free cash flow it threw off
—
Debt you’d be carrying
—

10 shares is a claim on −$0.07 of net worth that earned you −$0.02 last year.

iii. Is this a good business?
Moat signal · return on equity
-33196% avg · 5y
FY19 —FY20 -66392%FY21 -0%FY22 —FY23 —

It earned an average -33196% 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
+34666% shares · 5y

Share count is up 34666% 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 2 years of FCF (need ≥3) — model not applicable
DCF · Growth Exit 5Y
not applicable
only 2 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 2019-12-31 · accession 0001477932-21-002316 (Revenues)
  2. 10-K · period ending 2020-12-31 · accession 0001477932-22-002592 (Revenues)
  3. 10-K · period ending 2021-12-31 · accession 0001477932-23-005374 (Revenues)
  4. 10-K · period ending 2022-12-31 · accession 0001477932-24-004240 (Revenues)
  5. 10-K · period ending 2019-12-31 · accession 0001477932-21-002316 (NetIncomeLoss)
  6. 10-K · period ending 2020-12-31 · accession 0001477932-22-002592 (NetIncomeLoss)
  7. 10-K · period ending 2021-12-31 · accession 0001477932-23-005374 (NetIncomeLoss)
  8. 10-K · period ending 2022-12-31 · accession 0001477932-24-004240 (NetIncomeLoss)
  9. 10-K · period ending 2019-12-31 · accession 0001477932-21-002316 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K · period ending 2020-12-31 · accession 0001477932-22-002592 (NetCashProvidedByUsedInOperatingActivities)
  11. 10-K · period ending 2021-12-31 · accession 0001477932-23-005374 (NetCashProvidedByUsedInOperatingActivities)
  12. 10-K · period ending 2022-12-31 · accession 0001477932-24-004240 (NetCashProvidedByUsedInOperatingActivities)
  13. 10-K · period ending 2020-12-31 · accession 0001477932-22-002592 (PaymentsToAcquireProductiveAssets)
  14. 10-K · period ending 2019-12-31 · accession 0001477932-22-002592 (CashAndCashEquivalentsAtCarryingValue)
  15. 10-K · period ending 2021-12-31 · accession 0001477932-24-004240 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)