MeritValue

BetterLife Pharma Inc.

BETRFdata completeness 63%9 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 'investmentsAtFairValue'; no data for concept 'netInvestmentIncome'; no data for concept 'gainsOnRealEstateSales'; no data for concept 'realEstateImpairment'; no data for concept 'dividendsPaid'; no data for concept 'incomeTaxExpense'; no data for concept 'pretaxIncome'

i. The business — what you’d actually own
FigureFY 2013FY 2015FY 2016FY 2017FY 2018
Revenue—————
Net income$341,4251−$1.13M2−$10.3M3−$6.28M4−$121,1824
Operating cash flow−$31,5865−$47,2576−$163,9427−$359,4498−$395,6028
Capital expenditure—————
Free cash flow (derived)—————
Total debt—————
Cash & equivalents$4759$83910$71,63911$112,42111$64,51111
Diluted shares35.8M11.6M77.7M75.6M82.4M

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
−$0.01
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 −$0.01 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.

seeing a moat in the numbers →
Management signal · capital allocation
+130% shares · 5y

Share count is up 130% 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 v0.5.0
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 2013-01-31 · accession 0001511164-13-000237 (NetIncomeLoss)
  2. 10-K/A · period ending 2015-01-31 · accession 0001477932-16-010741 (NetIncomeLoss)
  3. 10-K · period ending 2016-01-31 · accession 0001477932-17-002007 (NetIncomeLoss)
  4. 10-K · period ending 2017-01-31 · accession 0001477932-18-002135 (NetIncomeLoss)
  5. 10-K · period ending 2013-01-31 · accession 0001511164-13-000237 (NetCashProvidedByUsedInOperatingActivities)
  6. 10-K/A · period ending 2015-01-31 · accession 0001477932-16-010741 (NetCashProvidedByUsedInOperatingActivities)
  7. 10-K · period ending 2016-01-31 · accession 0001477932-17-002007 (NetCashProvidedByUsedInOperatingActivities)
  8. 10-K · period ending 2017-01-31 · accession 0001477932-18-002135 (NetCashProvidedByUsedInOperatingActivities)
  9. 10-K · period ending 2013-01-31 · accession 0001511164-13-000237 (CashAndCashEquivalentsAtCarryingValue)
  10. 10-K · period ending 2015-01-31 · accession 0001477932-17-002007 (CashAndCashEquivalentsAtCarryingValue)
  11. 10-K · period ending 2016-01-31 · accession 0001477932-18-002135 (CashAndCashEquivalentsAtCarryingValue)