C2 Blockchain, Inc.

CBLOdata completeness 75%5 fiscal years on file

Data notes: no data for concept 'capex'; no data for concept 'totalDebt'; no data for concept 'investmentsAtFairValue'; no data for concept 'netInvestmentIncome'; no data for concept 'depreciationAmortization'; no data for concept 'gainsOnRealEstateSales'; no data for concept 'realEstateImpairment'; no data for concept 'dividendsPaid'; no data for concept 'interestExpense'; no data for concept 'incomeTaxExpense'; no data for concept 'pretaxIncome'

i. The business — what you’d actually own

Figure	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025
Revenue	—	—	—	—	$185¹
Net income	−$5,585²	−$8,407³	−$18,507⁴	−$30,020⁵	−$235,265⁵
Operating cash flow	—	−$12,657⁶	−$18,507⁷	−$30,020⁸	−$149,333⁸
Capital expenditure	—	—	—	—	—
Free cash flow (derived)	—	—	—	—	—
Total debt	—	—	—	—	—
Cash & equivalents	—	—	—	$30⁹	$9⁹
Diluted shares	—	253.9M	253.9M	253.9M	274.7M

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

Net assets behind them

−$0

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 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

+8% shares · 5y

Share count is up 8% 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

10-K · period ending 2025-06-30 · accession 0001882781-25-000034 (Revenues)
10-K · period ending 2021-06-30 · accession 0001599916-22-000224 (NetIncomeLoss)
10-K · period ending 2022-06-30 · accession 0001599916-23-000202 (NetIncomeLoss)
10-K · period ending 2023-06-30 · accession 0001599916-24-000212 (NetIncomeLoss)
10-K · period ending 2024-06-30 · accession 0001882781-25-000034 (NetIncomeLoss)
10-K · period ending 2022-06-30 · accession 0001599916-23-000202 (NetCashProvidedByUsedInOperatingActivities)
10-K · period ending 2023-06-30 · accession 0001599916-24-000212 (NetCashProvidedByUsedInOperatingActivities)
10-K · period ending 2024-06-30 · accession 0001882781-25-000034 (NetCashProvidedByUsedInOperatingActivities)
10-K · period ending 2024-06-30 · accession 0001882781-25-000034 (CashAndCashEquivalentsAtCarryingValue)