King Resources, Inc.

KRFGdata completeness 88%6 fiscal years on file

Data notes: 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'; no data for concept 'interestExpense'

i. The business — what you’d actually own

Figure	FY 2022	FY 2023	FY 2024	FY 2025	FY 2026
Revenue	$385,406¹	$198,816²	$70,296³	$76,921⁴	$830,662⁴
Net income	−$60,166⁵	−$1.32M⁶	−$1.51M⁷	$1.95M⁸	−$2.18M⁸
Operating cash flow	$86,113⁹	−$180,808¹⁰	−$284,789¹¹	−$85,555¹²	−$156,676¹²
Capital expenditure	$5,536¹³	—	—	$0¹⁴	$9,437¹⁴
Free cash flow (derived)	$80,577⁹	—	—	−$85,555¹²	−$166,113¹²
Total debt	—	—	—	—	—
Cash & equivalents	$14,864¹⁵	$4,911¹⁶	$1,556¹⁷	$2,417¹⁸	$8,789¹⁸
Diluted shares	7.81B	8.31B	8.50B	603,566	22.1M

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

−$0.54

your share of equity

Profit it earned you last year

−$0.99

Free cash flow it threw off

−$0.08

Debt you’d be carrying

—

10 shares is a claim on −$0.54 of net worth that earned you −$0.99 and generated −$0.08 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.

seeing a moat in the numbers →

Management signal · capital allocation

−100% shares · 5y

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

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 v0.5.0

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

10-K · period ending 2022-03-31 · accession 0001683168-23-004906 (Revenues)
10-K · period ending 2023-03-31 · accession 0001683168-24-004875 (Revenues)
10-K · period ending 2024-03-31 · accession 0001683168-25-005108 (Revenues)
10-K/A · period ending 2025-03-31 · accession 0001683168-26-005722 (Revenues)
10-K · period ending 2022-03-31 · accession 0001683168-23-004906 (NetIncomeLoss)
10-K · period ending 2023-03-31 · accession 0001683168-24-004875 (NetIncomeLoss)
10-K · period ending 2024-03-31 · accession 0001683168-25-005108 (NetIncomeLoss)
10-K/A · period ending 2025-03-31 · accession 0001683168-26-005722 (NetIncomeLoss)
10-K · period ending 2022-03-31 · accession 0001683168-23-004906 (NetCashProvidedByUsedInOperatingActivities)
10-K · period ending 2023-03-31 · accession 0001683168-24-004875 (NetCashProvidedByUsedInOperatingActivities)
10-K · period ending 2024-03-31 · accession 0001683168-25-005108 (NetCashProvidedByUsedInOperatingActivities)
10-K/A · period ending 2025-03-31 · accession 0001683168-26-005722 (NetCashProvidedByUsedInOperatingActivities)
10-K · period ending 2022-03-31 · accession 0001683168-22-004566 (PaymentsToAcquirePropertyPlantAndEquipment)
10-K/A · period ending 2025-03-31 · accession 0001683168-26-005722 (PaymentsToAcquirePropertyPlantAndEquipment)
10-K · period ending 2022-03-31 · accession 0001683168-23-004906 (CashAndCashEquivalentsAtCarryingValue)
10-K · period ending 2023-03-31 · accession 0001683168-24-004875 (CashAndCashEquivalentsAtCarryingValue)
10-K · period ending 2024-03-31 · accession 0001683168-25-005108 (CashAndCashEquivalentsAtCarryingValue)
10-K/A · period ending 2025-03-31 · accession 0001683168-26-005722 (CashAndCashEquivalentsAtCarryingValue)