MeritValue

iWallet Corp

IWALdata completeness 75%12 fiscal years on file

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

i. The business — what you’d actually own
FigureFY 2021FY 2022FY 2023FY 2024FY 2025
Revenue$69,4001$10,0502$03$04$04
Net income−$346,8265−$106,7306−$267,8527−$108,0918−$1.1M8
Operating cash flow$37,6689−$36,60910−$21,48911−$35,12312−$52,70812
Capital expenditure—————
Free cash flow (derived)—————
Total debt—————
Cash & equivalents$49,65813$13,04914$1,56015$2,43716$016
Diluted shares43.9M52.8M64.9M75.6M87.5M

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
−$0.09
your share of equity
Profit it earned you last year
−$0.13
Free cash flow it threw off
—
Debt you’d be carrying
—

10 shares is a claim on −$0.09 of net worth that earned you −$0.13 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
+99% shares · 5y

Share count is up 99% 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
  1. 10-K · period ending 2021-12-31 · accession 0001393905-23-000278 (Revenues)
  2. 10-K/A · period ending 2022-12-31 · accession 0001393905-24-000270 (Revenues)
  3. 10-K · period ending 2023-12-31 · accession 0001393905-25-000115 (Revenues)
  4. 10-K · period ending 2024-12-31 · accession 0001498372-26-000002 (Revenues)
  5. 10-K · period ending 2021-12-31 · accession 0001393905-23-000278 (NetIncomeLoss)
  6. 10-K/A · period ending 2022-12-31 · accession 0001393905-24-000270 (NetIncomeLoss)
  7. 10-K · period ending 2023-12-31 · accession 0001393905-25-000115 (NetIncomeLoss)
  8. 10-K · period ending 2024-12-31 · accession 0001498372-26-000002 (NetIncomeLoss)
  9. 10-K · period ending 2021-12-31 · accession 0001393905-23-000278 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K/A · period ending 2022-12-31 · accession 0001393905-24-000270 (NetCashProvidedByUsedInOperatingActivities)
  11. 10-K · period ending 2023-12-31 · accession 0001393905-25-000115 (NetCashProvidedByUsedInOperatingActivities)
  12. 10-K · period ending 2024-12-31 · accession 0001498372-26-000002 (NetCashProvidedByUsedInOperatingActivities)
  13. 10-K · period ending 2021-12-31 · accession 0001393905-23-000278 (CashAndCashEquivalentsAtCarryingValue)
  14. 10-K/A · period ending 2022-12-31 · accession 0001393905-24-000270 (CashAndCashEquivalentsAtCarryingValue)
  15. 10-K · period ending 2023-12-31 · accession 0001393905-25-000115 (CashAndCashEquivalentsAtCarryingValue)
  16. 10-K · period ending 2024-12-31 · accession 0001498372-26-000002 (CashAndCashEquivalentsAtCarryingValue)