MeritValue

Cell Source, Inc.

CLCSdata completeness 63%12 fiscal years on file

Data notes: no data for concept 'revenue'; 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'

i. The business — what you’d actually own
FigureFY 2020FY 2021FY 2022FY 2023FY 2024
Revenue—————
Net income−$4.56M1−$5.47M2−$5.17M3−$5.32M4−$4.51M4
Operating cash flow−$2.77M5−$3.38M6−$3.14M7−$2.35M8−$2.68M8
Capital expenditure—————
Free cash flow (derived)—————
Total debt—————
Cash & equivalents$241,6199$93,09510$222,66510$22,20311$74,63111
Diluted shares32.5M33.1M34.8M37.8M41.9M

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
−$4.43
your share of equity
Profit it earned you last year
−$1.08
Free cash flow it threw off
—
Debt you’d be carrying
—

10 shares is a claim on −$4.43 of net worth that earned you −$1.08 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
+29% shares · 5y

Share count is up 29% 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 2020-12-31 · accession 0001493152-22-010133 (NetIncomeLoss)
  2. 10-K · period ending 2021-12-31 · accession 0001493152-23-027069 (NetIncomeLoss)
  3. 10-K · period ending 2022-12-31 · accession 0001493152-24-024903 (NetIncomeLoss)
  4. 10-K · period ending 2023-12-31 · accession 0001493152-26-015359 (NetIncomeLoss)
  5. 10-K · period ending 2020-12-31 · accession 0001493152-22-010133 (NetCashProvidedByUsedInOperatingActivities)
  6. 10-K · period ending 2021-12-31 · accession 0001493152-23-027069 (NetCashProvidedByUsedInOperatingActivities)
  7. 10-K · period ending 2022-12-31 · accession 0001493152-24-024903 (NetCashProvidedByUsedInOperatingActivities)
  8. 10-K · period ending 2023-12-31 · accession 0001493152-26-015359 (NetCashProvidedByUsedInOperatingActivities)
  9. 10-K · period ending 2020-12-31 · accession 0001493152-22-010133 (CashAndCashEquivalentsAtCarryingValue)
  10. 10-K · period ending 2021-12-31 · accession 0001493152-23-027069 (CashAndCashEquivalentsAtCarryingValue)
  11. 10-K · period ending 2023-12-31 · accession 0001493152-26-015359 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)