AURA SYSTEMS INC

AUSIdata completeness 88%15 fiscal years on file

i. The business — what you’d actually own

Figure	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025
Revenue	$114,923¹	$100,000²	$71,000²	$56,000³	$50,000³
Net income	$44,748⁴	−$3.99M⁵	−$3.41M⁵	−$4.22M⁶	−$21.1M⁶
Operating cash flow	−$1.89M⁷	−$2.64M⁸	−$3.12M⁸	−$3M⁹	−$3.22M⁹
Capital expenditure	$15,614¹⁰	$196,000¹¹	$54,000¹¹	$22,000¹²	$103,000¹²
Free cash flow (derived)	−$1.9M⁷	−$2.84M⁸	−$3.18M⁸	−$3.02M⁹	−$3.33M⁹
Total debt	—	—	—	—	—
Cash & equivalents	$390,702¹³	$150,000¹⁴	$15,000¹⁴	$124,000¹⁵	$23,000¹⁵
Diluted shares	65.2M	76.8M	88.9M	99.4M	114.8M

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

Net assets behind them

−$3.27

your share of equity

Profit it earned you last year

−$1.84

Free cash flow it threw off

−$0.29

Debt you’d be carrying

—

10 shares is a claim on −$3.27 of net worth that earned you −$1.84 and generated −$0.29 of cash last year.

iii. Is this a good business?

Moat signal · return on equity

— avg · 5y

Not enough data in the filings for a return-on-capital reading.

Management signal · capital allocation

+76% shares · 5y

Share count is up 76% over 5 years — owners have been diluted. Worth asking what they got for it.

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

3y-median FCF non-positive — growth-exit DCF not applicable (see EPV)

DCF · Growth Exit 5Y

not applicable

3y-median FCF non-positive — growth-exit DCF not applicable (see EPV)

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