MeritValue

DEFENSE TECHNOLOGIES INTERNATIONAL CORP.

DTIIdata completeness 75%15 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 'gainsOnRealEstateSales'; no data for concept 'realEstateImpairment'; no data for concept 'dividendsPaid'

i. The business — what you’d actually own
FigureFY 2021FY 2022FY 2023FY 2024FY 2025
Revenue$13,2301$02$03$49,0124$04
Net income−$1.8M5−$675,6246−$2.63M7−$575,7668−$942,2958
Operating cash flow−$363,2079−$285,21510−$109,60711−$16,50312−$390,52012
Capital expenditure—————
Free cash flow (derived)—————
Total debt—————
Cash & equivalents$44,20913$5,76113$80414$17114$1,49314
Diluted shares88,682299,7121.8M5.6M28.8M

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
−$0.59
your share of equity
Profit it earned you last year
−$0.33
Free cash flow it threw off
—
Debt you’d be carrying
—

10 shares is a claim on −$0.59 of net worth that earned you −$0.33 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
+32399% shares · 5y

Share count is up 32399% 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 —

Different models answer different questions — which to trust when →

Sources — the receipts
  1. 10-K/A · period ending 2021-04-30 · accession 0001096906-22-001743 (Revenues)
  2. 10-K/A · period ending 2022-04-30 · accession 0001096906-23-001694 (Revenues)
  3. 10-K · period ending 2023-04-30 · accession 0001477932-24-005368 (Revenues)
  4. 10-K · period ending 2024-04-30 · accession 0001477932-25-007047 (Revenues)
  5. 10-K/A · period ending 2021-04-30 · accession 0001096906-22-001743 (NetIncomeLoss)
  6. 10-K/A · period ending 2022-04-30 · accession 0001096906-23-001694 (NetIncomeLoss)
  7. 10-K · period ending 2023-04-30 · accession 0001477932-24-005368 (NetIncomeLoss)
  8. 10-K · period ending 2024-04-30 · accession 0001477932-25-007047 (NetIncomeLoss)
  9. 10-K/A · period ending 2021-04-30 · accession 0001096906-22-001743 (NetCashProvidedByUsedInOperatingActivitiesContinuingOperations)
  10. 10-K/A · period ending 2022-04-30 · accession 0001096906-23-001694 (NetCashProvidedByUsedInOperatingActivities)
  11. 10-K · period ending 2023-04-30 · accession 0001477932-24-005368 (NetCashProvidedByUsedInOperatingActivities)
  12. 10-K · period ending 2024-04-30 · accession 0001477932-25-007047 (NetCashProvidedByUsedInOperatingActivities)
  13. 10-K/A · period ending 2021-04-30 · accession 0001096906-22-001743 (CashAndCashEquivalentsAtCarryingValue)
  14. 10-K · period ending 2023-04-30 · accession 0001477932-25-007047 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)