MeritValue

WEED, INC.

BUDZdata completeness 75%11 fiscal years on file

Data notes: no data for concept 'totalDebt'

The thesis, from the filings

WEED, INC. earns about -458% on equity, but has diluted owners by 16% 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—$01$01$02$02
Net income−$2.84M3−$1.53M3−$31,5574−$510,7165−$1.37M5
Operating cash flow−$568,9146−$812,9757−$1.07M8−$415,5249−$195,1369
Capital expenditure$271,23310$011$10,00012——
Free cash flow (derived)−$840,1476−$812,9757−$1.08M8——
Total debt—————
Cash & equivalents$19,65413$315,82614$290,40915$159,35515$33,13015
Diluted shares116.7M122.1M123.7M124.1M135.9M

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
−$0.05
your share of equity
Profit it earned you last year
−$0.1
Free cash flow it threw off
—
Debt you’d be carrying
—

10 shares is a claim on −$0.05 of net worth that earned you −$0.1 last year.

iii. Is this a good business?
Moat signal · return on equity
-458% avg · 5y
FY21 -460%FY22 -900%FY23 -12%FY24 —FY25 —

It earned an average -458% 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
+16% shares · 5y

Share count is up 16% 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
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
  1. 10-K · period ending 2022-12-31 · accession 0001096906-24-000701 (Revenues)
  2. 10-K · period ending 2024-12-31 · accession 0001096906-26-000507 (Revenues)
  3. 10-K · period ending 2021-12-31 · accession 0001199835-23-000186 (NetIncomeLoss)
  4. 10-K · period ending 2023-12-31 · accession 0001096906-25-000350 (NetIncomeLoss)
  5. 10-K · period ending 2024-12-31 · accession 0001096906-26-000507 (NetIncomeLoss)
  6. 10-K · period ending 2021-12-31 · accession 0001199835-23-000186 (NetCashProvidedByUsedInOperatingActivities)
  7. 10-K · period ending 2022-12-31 · accession 0001096906-24-000701 (NetCashProvidedByUsedInOperatingActivities)
  8. 10-K · period ending 2023-12-31 · accession 0001096906-25-000350 (NetCashProvidedByUsedInOperatingActivities)
  9. 10-K · period ending 2024-12-31 · accession 0001096906-26-000507 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K · period ending 2021-12-31 · accession 0001199835-23-000186 (PaymentsToAcquirePropertyPlantAndEquipment)
  11. 10-K · period ending 2022-12-31 · accession 0001096906-24-000701 (PaymentsToAcquirePropertyPlantAndEquipment)
  12. 10-K · period ending 2023-12-31 · accession 0001096906-25-000350 (PaymentsToAcquirePropertyPlantAndEquipment)
  13. 10-K · period ending 2021-12-31 · accession 0001096906-24-000701 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)
  14. 10-K · period ending 2022-12-31 · accession 0001096906-25-000350 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)
  15. 10-K · period ending 2023-12-31 · accession 0001096906-26-000507 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)