MeritValue

Crypto Co

CRCWdata completeness 75%10 fiscal years on file

Data notes: no data for concept 'totalDebt'

i. The business — what you’d actually own
FigureFY 2021FY 2022FY 2023FY 2024FY 2025
Revenue$434,5521$619,5382$197,4593$44,8143$18,5274
Net income−$785,6305−$5.66M6−$7.23M7−$7.96M7−$1.98M8
Operating cash flow−$152,2419−$1.93M10−$1.64M11−$813,54811−$1.41M12
Capital expenditure—$50,00013———
Free cash flow (derived)—−$1.98M10———
Total debt—————
Cash & equivalents$75,69914$110,60615$72,97016$1,76316$97,20517
Diluted shares22.1M23.2M134.9M1.94B3.73B

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
−$0.02
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 −$0.02 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
+16805% shares · 5y

Share count is up 16805% 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 1 years of FCF (need ≥3) — model not applicable
DCF · Growth Exit 5Y
not applicable
only 1 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 2021-12-31 · accession 0001493152-23-012450 (RevenueFromContractWithCustomerExcludingAssessedTax)
  2. 10-K/A · period ending 2022-12-31 · accession 0001641172-25-021488 (RevenueFromContractWithCustomerExcludingAssessedTax)
  3. 10-K/A · period ending 2023-12-31 · accession 0001493152-26-029925 (RevenueFromContractWithCustomerExcludingAssessedTax)
  4. 10-K · period ending 2025-12-31 · accession 0001493152-26-029927 (RevenueFromContractWithCustomerExcludingAssessedTax)
  5. 10-K · period ending 2021-12-31 · accession 0001493152-23-012450 (NetIncomeLoss)
  6. 10-K/A · period ending 2022-12-31 · accession 0001641172-25-021488 (NetIncomeLoss)
  7. 10-K/A · period ending 2023-12-31 · accession 0001493152-26-029925 (NetIncomeLoss)
  8. 10-K · period ending 2025-12-31 · accession 0001493152-26-029927 (NetIncomeLoss)
  9. 10-K · period ending 2021-12-31 · accession 0001493152-23-012450 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K/A · period ending 2022-12-31 · accession 0001641172-25-021488 (NetCashProvidedByUsedInOperatingActivities)
  11. 10-K/A · period ending 2023-12-31 · accession 0001493152-26-029925 (NetCashProvidedByUsedInOperatingActivities)
  12. 10-K · period ending 2025-12-31 · accession 0001493152-26-029927 (NetCashProvidedByUsedInOperatingActivities)
  13. 10-K/A · period ending 2022-12-31 · accession 0001641172-25-021488 (PaymentsToAcquireProductiveAssets)
  14. 10-K · period ending 2021-12-31 · accession 0001493152-23-012450 (CashAndCashEquivalentsAtCarryingValue)
  15. 10-K/A · period ending 2022-12-31 · accession 0001641172-25-021488 (CashAndCashEquivalentsAtCarryingValue)
  16. 10-K/A · period ending 2023-12-31 · accession 0001493152-26-029925 (CashAndCashEquivalentsAtCarryingValue)
  17. 10-K · period ending 2025-12-31 · accession 0001493152-26-029927 (CashAndCashEquivalentsAtCarryingValue)