FAMILY OFFICE OF AMERICA, INC.

FOFAdata completeness 75%5 fiscal years on file

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

The thesis, from the filings

FAMILY OFFICE OF AMERICA, INC. earns about -181% on invested capital, but has diluted owners by 285% 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 2021	FY 2022	FY 2023	FY 2024	FY 2025
Revenue	—	—	—	—	$221,765¹
Net income	−$1.73M²	−$920,515³	−$805,021⁴	−$100,484⁵	−$492,748⁵
Operating cash flow	−$792,844⁶	−$558,426⁷	−$76,529⁸	−$89,370⁹	−$262,188⁹
Capital expenditure	$1,787¹⁰	—	—	—	—
Free cash flow (derived)	−$794,631⁶	—	—	—	—
Total debt	—	—	—	—	$300,000¹¹
Cash & equivalents	—	—	—	—	—
Diluted shares	6.9M	8.3M	8.5M	20.3M	26.7M

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

$0.25

your share of equity

Profit it earned you last year

−$0.18

Free cash flow it threw off

—

Debt you’d be carrying

$0.11

10 shares is a claim on $0.25 of net worth that earned you −$0.18 last year, against $0.11 of debt.

iii. Is this a good business?

Moat signal · return on invested capital

-181% avg · 5y

FY21 -178%FY22 -325%FY23 —FY24 —FY25 -41%

It earned an average -181% on invested capital over 5 years. Compare that to what it costs to fund the business.

seeing a moat in the numbers →

Management signal · capital allocation

+285% shares · 5y

Share count is up 285% over 5 years — owners have been diluted. Worth asking what they got for it. Total debt has held roughly steady.

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

10-K · period ending 2025-12-31 · accession 0001493152-26-017069 (RevenueFromContractWithCustomerExcludingAssessedTax)
10-K · period ending 2021-12-31 · accession 0001493152-23-013297 (NetIncomeLoss)
10-K/A · period ending 2022-12-31 · accession 0001493152-24-028237 (NetIncomeLoss)
10-K · period ending 2023-12-31 · accession 0001493152-25-009601 (NetIncomeLoss)
10-K · period ending 2024-12-31 · accession 0001493152-26-017069 (NetIncomeLoss)
10-K · period ending 2021-12-31 · accession 0001493152-23-013297 (NetCashProvidedByUsedInOperatingActivities)
10-K/A · period ending 2022-12-31 · accession 0001493152-24-028237 (NetCashProvidedByUsedInOperatingActivities)
10-K · period ending 2023-12-31 · accession 0001493152-25-009601 (NetCashProvidedByUsedInOperatingActivities)
10-K · period ending 2024-12-31 · accession 0001493152-26-017069 (NetCashProvidedByUsedInOperatingActivities)
10-K · period ending 2021-12-31 · accession 0001493152-23-013297 (PaymentsToAcquirePropertyPlantAndEquipment)
10-K · period ending 2025-12-31 · accession 0001493152-26-017069 (LongTermDebt)