MeritValue

Bubblr Inc.

BBLRdata completeness 63%6 fiscal years on file

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

The thesis, from the filings

Bubblr Inc. earns about -5130% on equity, but has diluted owners by 22% 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——$2,6201$5,3492$3,3692
Net income−$3.69M3−$4.43M4−$2.65M5−$1.31M6−$1.27M6
Operating cash flow−$1.58M7−$1.17M8−$255,5479−$144,64210−$270,98010
Capital expenditure$18,63011————
Free cash flow (derived)−$1.6M7————
Total debt—————
Cash & equivalents$62,96712$32,53313———
Diluted shares140.2M150.4M156.7M159.7M171.7M

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
−$0.17
your share of equity
Profit it earned you last year
−$0.07
Free cash flow it threw off
—
Debt you’d be carrying
—

10 shares is a claim on −$0.17 of net worth that earned you −$0.07 last year.

iii. Is this a good business?
Moat signal · return on equity
-5130% avg · 5y
FY21 —FY22 -5130%FY23 —FY24 —FY25 —

It earned an average -5130% 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
+22% shares · 5y

Share count is up 22% 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 2023-12-31 · accession 0001641172-25-001484 (RevenueFromContractWithCustomerExcludingAssessedTax)
  2. 10-K · period ending 2024-12-31 · accession 0001493152-26-013999 (RevenueFromContractWithCustomerExcludingAssessedTax)
  3. 10-K · period ending 2021-12-31 · accession 0001663577-23-000131 (NetIncomeLoss)
  4. 10-K · period ending 2022-12-31 · accession 0001493152-24-010665 (NetIncomeLoss)
  5. 10-K · period ending 2023-12-31 · accession 0001641172-25-001484 (NetIncomeLoss)
  6. 10-K · period ending 2024-12-31 · accession 0001493152-26-013999 (NetIncomeLoss)
  7. 10-K · period ending 2021-12-31 · accession 0001663577-23-000131 (NetCashProvidedByUsedInOperatingActivities)
  8. 10-K · period ending 2022-12-31 · accession 0001493152-24-010665 (NetCashProvidedByUsedInOperatingActivities)
  9. 10-K · period ending 2023-12-31 · accession 0001641172-25-001484 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K · period ending 2024-12-31 · accession 0001493152-26-013999 (NetCashProvidedByUsedInOperatingActivities)
  11. 10-K · period ending 2021-12-31 · accession 0001663577-23-000131 (PaymentsToAcquirePropertyPlantAndEquipment)
  12. 10-K · period ending 2021-12-31 · accession 0001663577-22-000190 (CashAndCashEquivalentsAtCarryingValue)
  13. 10-K · period ending 2022-12-31 · accession 0001663577-23-000131 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)