MeritValue

Kinetic Seas Inc.

KSEZdata completeness 88%5 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 'incomeTaxExpense'; no data for concept 'pretaxIncome'

i. The business — what you’d actually own
FigureFY 2021FY 2022FY 2023FY 2024FY 2025
Revenue$01$02$03$210,5844$71,2684
Net income$22,7055−$94,1316−$160,9627−$3.9M8−$1.24M8
Operating cash flow−$29,4769−$63,28710−$133,71911−$1.07M12−$553,92912
Capital expenditure—$013$13,32614$100,17815$015
Free cash flow (derived)—−$63,28710−$147,04511−$1.17M12−$553,92912
Total debt—————
Cash & equivalents$4,66316$1,37617$17,93118$4,94719$7,76719
Diluted shares140.8M3.0M4.3M21.6M24.5M

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
−$0.14
your share of equity
Profit it earned you last year
−$0.5
Free cash flow it threw off
−$0.23
Debt you’d be carrying
—

10 shares is a claim on −$0.14 of net worth that earned you −$0.5 and generated −$0.23 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
−83% shares · 5y

Share count is down 83% 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
  1. 10-K · period ending 2021-12-31 · accession 0001683168-23-001957 (Revenues)
  2. 10-K/A · period ending 2022-12-31 · accession 0001683168-24-006662 (Revenues)
  3. 10-K · period ending 2023-12-31 · accession 0001683168-25-002782 (Revenues)
  4. 10-K · period ending 2024-12-31 · accession 0001683168-26-004391 (Revenues)
  5. 10-K · period ending 2021-12-31 · accession 0001683168-23-001957 (NetIncomeLoss)
  6. 10-K/A · period ending 2022-12-31 · accession 0001683168-24-006662 (NetIncomeLoss)
  7. 10-K · period ending 2023-12-31 · accession 0001683168-25-002782 (NetIncomeLoss)
  8. 10-K · period ending 2024-12-31 · accession 0001683168-26-004391 (NetIncomeLoss)
  9. 10-K · period ending 2021-12-31 · accession 0001683168-23-001957 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K/A · period ending 2022-12-31 · accession 0001683168-24-006662 (NetCashProvidedByUsedInOperatingActivities)
  11. 10-K · period ending 2023-12-31 · accession 0001683168-25-002782 (NetCashProvidedByUsedInOperatingActivities)
  12. 10-K · period ending 2024-12-31 · accession 0001683168-26-004391 (NetCashProvidedByUsedInOperatingActivities)
  13. 10-K/A · period ending 2022-12-31 · accession 0001683168-24-006662 (PaymentsToAcquirePropertyPlantAndEquipment)
  14. 10-K · period ending 2023-12-31 · accession 0001683168-25-002782 (PaymentsToAcquirePropertyPlantAndEquipment)
  15. 10-K · period ending 2024-12-31 · accession 0001683168-26-004391 (PaymentsToAcquirePropertyPlantAndEquipment)
  16. 10-K · period ending 2021-12-31 · accession 0001683168-23-001957 (CashAndCashEquivalentsAtCarryingValue)
  17. 10-K/A · period ending 2022-12-31 · accession 0001683168-24-006662 (CashAndCashEquivalentsAtCarryingValue)
  18. 10-K · period ending 2023-12-31 · accession 0001683168-25-002782 (CashAndCashEquivalentsAtCarryingValue)
  19. 10-K · period ending 2024-12-31 · accession 0001683168-26-004391 (CashAndCashEquivalentsAtCarryingValue)