Hypha Labs, Inc.

FUNIdata completeness 63%15 fiscal years on file

i. The business — what you’d actually own

Figure	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025
Revenue	$2.5M¹	$2.7M¹	—	—	—
Net income	−$686,503²	−$2.06M³	$246,774⁴	−$785,429⁵	−$3.1M⁵
Operating cash flow	−$135,968⁶	−$184,786⁷	$112,525⁸	−$1.03M⁹	−$379,975⁹
Capital expenditure	$56,206¹⁰	$17,722¹⁰	—	$27,655¹¹	$32,966¹¹
Free cash flow (derived)	−$192,174⁶	−$202,508⁷	—	−$1.06M⁹	−$412,941⁹
Total debt	—	—	—	—	—
Cash & equivalents	$295,932¹²	$56,168¹²	—	—	—
Diluted shares	65.9M	74.2M	83.9M	101.3M	135.1M

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

−$0.18

your share of equity

Profit it earned you last year

−$0.23

Free cash flow it threw off

−$0.03

Debt you’d be carrying

—

10 shares is a claim on −$0.18 of net worth that earned you −$0.23 and generated −$0.03 of cash 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.

Management signal · capital allocation

+105% shares · 5y

Share count is up 105% over 5 years — owners have been diluted. Worth asking what they got for it.

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

3y-median FCF non-positive — growth-exit DCF not applicable (see EPV)

DCF · Growth Exit 5Y

not applicable

3y-median FCF non-positive — growth-exit DCF not applicable (see EPV)

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