Crisp Momentum Inc.

CRSFdata completeness 63%5 fiscal years on file

Data notes: no data for concept 'capex'; no data for concept 'cash'; no data for concept 'totalDebt'; no data for concept 'incomeTaxExpense'

The thesis, from the filings

Crisp Momentum Inc. earns about -45% on equity, but has diluted owners by 61% 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

Figure	FY 2020	FY 2022	FY 2023	FY 2024	FY 2025
Revenue	—	$208¹	$81,179²	$35,676³	$262³
Net income	−$13,370⁴	−$2.56M⁵	−$7.43M⁶	−$778,196⁷	−$8.09M⁷
Operating cash flow	—	−$286,527⁸	−$978,976⁹	−$340,769¹⁰	−$422,410¹⁰
Capital expenditure	—	—	—	—	—
Free cash flow (derived)	—	—	—	—	—
Total debt	—	—	—	—	—
Cash & equivalents	—	—	—	—	—
Diluted shares	—	141.4M	39.4M	41.6M	227.0M

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

−$0.01

your share of equity

Profit it earned you last year

−$0.36

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 −$0.36 last year.

iii. Is this a good business?

Moat signal · return on equity

-45% avg · 5y

FY20 —FY22 -45%FY23 —FY24 —FY25 —

It earned an average -45% 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

+61% shares · 5y

Share count is up 61% 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 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 2022-07-31 · accession 0001493152-23-039011 (RevenueFromContractWithCustomerExcludingAssessedTax)
10-K · period ending 2023-07-31 · accession 0001493152-24-047996 (RevenueFromContractWithCustomerExcludingAssessedTax)
10-K · period ending 2024-07-31 · accession 0001493152-26-003967 (RevenueFromContractWithCustomerExcludingAssessedTax)
10-K · period ending 2020-12-31 · accession 0001493152-22-030006 (NetIncomeLoss)
10-K · period ending 2022-07-31 · accession 0001493152-23-039011 (NetIncomeLoss)
10-K · period ending 2023-07-31 · accession 0001493152-24-047996 (NetIncomeLoss)
10-K · period ending 2024-07-31 · accession 0001493152-26-003967 (NetIncomeLoss)
10-K · period ending 2022-07-31 · accession 0001493152-23-039011 (NetCashProvidedByUsedInOperatingActivities)
10-K · period ending 2023-07-31 · accession 0001493152-24-047996 (NetCashProvidedByUsedInOperatingActivities)
10-K · period ending 2024-07-31 · accession 0001493152-26-003967 (NetCashProvidedByUsedInOperatingActivities)