MeritValue

Global Warming Solutions, Inc.

GWSOdata completeness 75%5 fiscal years on file

Data notes: no data for concept 'interestExpense'

The thesis, from the filings

Global Warming Solutions, Inc. earns about -939% on equity, and has bought back 44% of its shares over 5 years. 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
FigureFY 2019FY 2020FY 2021FY 2022FY 2023
Revenue$61,8661$181,3382$101,7243$04$04
Net income−$25,6225−$886,3356−$601,2527−$1.28M8−$516,2668
Operating cash flow$12,2399$1,00210−$600,86511−$1.31M12−$586,07812
Capital expenditure——$69,03213$013—
Free cash flow (derived)——−$669,89711−$1.31M12—
Total debt$531,30914$014———
Cash & equivalents$11,68215$12,45015$840,63916$7916$28,61017
Diluted shares29.4M24.3M17.6M16.0M16.3M

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
−$0.07
your share of equity
Profit it earned you last year
−$0.32
Free cash flow it threw off
—
Debt you’d be carrying
—

10 shares is a claim on −$0.07 of net worth that earned you −$0.32 last year.

iii. Is this a good business?
Moat signal · return on equity
-939% avg · 5y
FY19 —FY20 -1816%FY21 -62%FY22 —FY23 —

It earned an average -939% 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
−44% shares · 5y

Share count is down 44% over 5 years — management has been buying back stock, quietly handing owners a bigger slice. Total debt has fallen 100% — deleveraging.

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 v0.2.0
DCF · Growth Exit 10Y
not applicable
only 2 years of FCF (need ≥3) — model not applicable
DCF · Growth Exit 5Y
not applicable
only 2 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 2019-12-31 · accession 0001477932-21-001405 (Revenues)
  2. 10-K · period ending 2020-12-31 · accession 0001477932-22-002028 (Revenues)
  3. 10-K · period ending 2021-12-31 · accession 0001477932-23-002575 (Revenues)
  4. 10-K · period ending 2022-12-31 · accession 0001477932-24-003836 (Revenues)
  5. 10-K · period ending 2019-12-31 · accession 0001477932-21-001405 (NetIncomeLoss)
  6. 10-K · period ending 2020-12-31 · accession 0001477932-22-002028 (NetIncomeLoss)
  7. 10-K · period ending 2021-12-31 · accession 0001477932-23-002575 (NetIncomeLoss)
  8. 10-K · period ending 2022-12-31 · accession 0001477932-24-003836 (NetIncomeLoss)
  9. 10-K · period ending 2019-12-31 · accession 0001477932-21-001405 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K · period ending 2020-12-31 · accession 0001477932-22-002028 (NetCashProvidedByUsedInOperatingActivities)
  11. 10-K · period ending 2021-12-31 · accession 0001477932-23-002575 (NetCashProvidedByUsedInOperatingActivities)
  12. 10-K · period ending 2022-12-31 · accession 0001477932-24-003836 (NetCashProvidedByUsedInOperatingActivities)
  13. 10-K · period ending 2021-12-31 · accession 0001477932-23-002575 (PaymentsToAcquirePropertyPlantAndEquipment)
  14. 10-K · period ending 2019-12-31 · accession 0001477932-21-001405 (DebtCurrent)
  15. 10-K · period ending 2019-12-31 · accession 0001477932-22-002028 (CashAndCashEquivalentsAtCarryingValue)
  16. 10-K · period ending 2021-12-31 · accession 0001477932-23-002575 (CashAndCashEquivalentsAtCarryingValue)
  17. 10-K · period ending 2023-12-31 · accession 0001477932-24-003836 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)