MeritValue

Myseum.AI, Inc.

MYSEdata completeness 88%6 fiscal years on file

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

The thesis, from the filings

Myseum.AI, Inc. earns about -79% on equity, and has bought back 73% of its shares over 5 years. 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$4,4451$46,2142$6723$4364$5504
Net income−$10.8M5−$12.1M6−$8.4M7−$4.24M8−$2.61M8
Operating cash flow−$8.45M9−$7.26M10−$6.53M11−$4.81M12−$4.27M12
Capital expenditure$56,03913$44,47514$49,48515—$4,47516
Free cash flow (derived)−$8.51M9−$7.3M10−$6.58M11—−$4.27M12
Total debt—————
Cash & equivalents$20.2M17$1.73M18$953,36219$766,98520$749,03020
Diluted shares15.3M2.0M2.0M3.0M4.2M

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
$14.55
your share of equity
Profit it earned you last year
−$6.21
Free cash flow it threw off
−$10.18
Debt you’d be carrying
—

10 shares is a claim on $14.55 of net worth that earned you −$6.21 and generated −$10.18 of cash last year.

iii. Is this a good business?
Moat signal · return on equity
-79% avg · 5y
FY21 -54%FY22 -97%FY23 -138%FY24 -62%FY25 -43%

It earned an average -79% 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
−73% shares · 5y

Share count is down 73% 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 v0.1.0
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
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 0001213900-23-025416 (Revenues)
  2. 10-K · period ending 2022-12-31 · accession 0001213900-24-027991 (Revenues)
  3. 10-K · period ending 2023-12-31 · accession 0001013762-25-004290 (Revenues)
  4. 10-K · period ending 2024-12-31 · accession 0001213900-26-036485 (Revenues)
  5. 10-K · period ending 2021-12-31 · accession 0001213900-23-025416 (NetIncomeLoss)
  6. 10-K · period ending 2022-12-31 · accession 0001213900-24-027991 (NetIncomeLoss)
  7. 10-K · period ending 2023-12-31 · accession 0001013762-25-004290 (NetIncomeLoss)
  8. 10-K · period ending 2024-12-31 · accession 0001213900-26-036485 (NetIncomeLoss)
  9. 10-K · period ending 2021-12-31 · accession 0001213900-23-025416 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K · period ending 2022-12-31 · accession 0001213900-24-027991 (NetCashProvidedByUsedInOperatingActivities)
  11. 10-K · period ending 2023-12-31 · accession 0001013762-25-004290 (NetCashProvidedByUsedInOperatingActivities)
  12. 10-K · period ending 2024-12-31 · accession 0001213900-26-036485 (NetCashProvidedByUsedInOperatingActivities)
  13. 10-K · period ending 2021-12-31 · accession 0001213900-23-025416 (PaymentsToAcquirePropertyPlantAndEquipment)
  14. 10-K · period ending 2022-12-31 · accession 0001213900-24-027991 (PaymentsToAcquirePropertyPlantAndEquipment)
  15. 10-K · period ending 2023-12-31 · accession 0001013762-25-004290 (PaymentsToAcquirePropertyPlantAndEquipment)
  16. 10-K · period ending 2025-12-31 · accession 0001213900-26-036485 (PaymentsToAcquirePropertyPlantAndEquipment)
  17. 10-K · period ending 2021-12-31 · accession 0001213900-24-027991 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)
  18. 10-K · period ending 2022-12-31 · accession 0001213900-24-027991 (CashAndCashEquivalentsAtCarryingValue)
  19. 10-K · period ending 2023-12-31 · accession 0001013762-25-004290 (CashAndCashEquivalentsAtCarryingValue)
  20. 10-K · period ending 2024-12-31 · accession 0001213900-26-036485 (CashAndCashEquivalentsAtCarryingValue)