MICROMEM TECHNOLOGIES INC

MMTIFdata completeness 63%10 fiscal years on file

Data notes: no data for concept 'revenue'; no data for concept 'netIncome'; no data for concept 'totalDebt'

i. The business — what you’d actually own

Figure	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025
Revenue	—	—	—	—	—
Net income	—	—	—	—	—
Operating cash flow	−$762,766¹	−$997,031²	−$1.08M³	−$625,924³	−$1.32M³
Capital expenditure	$5,271⁴	$0⁵	$2,044⁶	$0⁶	$2,729⁶
Free cash flow (derived)	−$768,037¹	−$997,031²	−$1.09M³	−$625,924³	−$1.33M³
Total debt	—	—	—	—	—
Cash & equivalents	$171,397⁷	$33,227⁸	$31,584⁸	$125,705⁸	$250,148⁸
Diluted shares	435.7M	467.6M	510.4M	573.0M	616.1M

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

−$0.09

your share of equity

Profit it earned you last year

—

Free cash flow it threw off

−$0.02

Debt you’d be carrying

—

10 shares is a claim on −$0.09 of net worth that generated −$0.02 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.

Management signal · capital allocation

+41% shares · 5y

Share count is up 41% over 5 years — owners have been diluted. Worth asking what they got for it.

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

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

only 0 years of net income (need ≥3)

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