MeritValue

Techlott Inc.

LOTTdata completeness 88%11 fiscal years on file
The thesis, from the filings

Techlott Inc. earns about -117% on equity, but has diluted owners by 395% over 5 years — worth asking whether the growth reaches owners. 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 2021FY 2022FY 2023FY 2024FY 2025
Revenue———$29,0001$8,0001
Net income−$3.18M2−$1.3M3−$1.82M4−$4.03M5−$15.1M5
Operating cash flow−$168,0006−$595,0007−$597,0008−$785,0009−$606,0009
Capital expenditure$3,00010————
Free cash flow (derived)−$171,0006————
Total debt$112,00011$693,00011$79,00012$79,00013$84,00013
Cash & equivalents$206,00014$60,00015$222,00016$79,00017$408,00017
Diluted shares118.9M219.6M257.2M456.1M588.1M

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
shares
Net assets behind them
$0.22
your share of equity
Profit it earned you last year
−$0.26
Free cash flow it threw off
—
Debt you’d be carrying
$0

10 shares is a claim on $0.22 of net worth that earned you −$0.26 last year, against $0 of debt.

iii. Is this a good business?
Moat signal · return on equity
-117% avg · 5y
FY21 —FY22 —FY23 —FY24 —FY25 -117%

It earned an average -117% 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
+395% shares · 5y

Share count is up 395% over 5 years — owners have been diluted. Worth asking what they got for it. Total debt has fallen 25% — 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 v0.1.0
DCF · Growth Exit 10Y
not applicable
only 1 years of FCF (need ≥3) — model not applicable
DCF · Growth Exit 5Y
not applicable
only 1 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 2024-12-31 · accession 0001493152-26-016968 (RevenueFromContractWithCustomerExcludingAssessedTax)
  2. 10-K · period ending 2021-12-31 · accession 0001493152-23-009907 (NetIncomeLoss)
  3. 10-K · period ending 2022-12-31 · accession 0001493152-24-012283 (NetIncomeLoss)
  4. 10-K · period ending 2023-12-31 · accession 0001641172-25-004834 (NetIncomeLoss)
  5. 10-K · period ending 2024-12-31 · accession 0001493152-26-016968 (NetIncomeLoss)
  6. 10-K · period ending 2021-12-31 · accession 0001493152-23-009907 (NetCashProvidedByUsedInOperatingActivities)
  7. 10-K · period ending 2022-12-31 · accession 0001493152-24-012283 (NetCashProvidedByUsedInOperatingActivities)
  8. 10-K · period ending 2023-12-31 · accession 0001641172-25-004834 (NetCashProvidedByUsedInOperatingActivities)
  9. 10-K · period ending 2024-12-31 · accession 0001493152-26-016968 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K · period ending 2021-12-31 · accession 0001493152-23-009907 (PaymentsToAcquirePropertyPlantAndEquipment)
  11. 10-K · period ending 2021-12-31 · accession 0001493152-23-009907 (ShortTermBorrowings)
  12. 10-K · period ending 2023-12-31 · accession 0001641172-25-004834 (ShortTermBorrowings)
  13. 10-K · period ending 2024-12-31 · accession 0001493152-26-016968 (ShortTermBorrowings)
  14. 10-K · period ending 2021-12-31 · accession 0001493152-23-009907 (CashAndCashEquivalentsAtCarryingValue)
  15. 10-K · period ending 2022-12-31 · accession 0001493152-24-012283 (CashAndCashEquivalentsAtCarryingValue)
  16. 10-K · period ending 2023-12-31 · accession 0001641172-25-004834 (CashAndCashEquivalentsAtCarryingValue)
  17. 10-K · period ending 2024-12-31 · accession 0001493152-26-016968 (CashAndCashEquivalentsAtCarryingValue)