NewHydrogen, Inc.

NEWHdata completeness 50%19 fiscal years on file

Data notes: no data for concept 'revenue'

The thesis, from the filings

NewHydrogen, Inc. earns about -672% on equity, and has bought back 35% 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

Figure	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025
Revenue	—	—	—	—	—
Net income	$10.2M¹	−$12.1M²	−$3.18M³	−$1.81M⁴	−$2.85M⁴
Operating cash flow	−$2.08M⁵	−$1.81M⁶	−$1.16M⁷	−$1.57M⁸	−$1.99M⁸
Capital expenditure	—	—	—	—	—
Free cash flow (derived)	—	—	—	—	—
Total debt	—	—	—	—	—
Cash & equivalents	$6.65M⁹	$4.83M¹⁰	$3.68M¹¹	$2.1M¹¹	—
Diluted shares	1.12B	705.1M	705.0M	704.6M	721.5M

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

Net assets behind them

−$0.03

your share of equity

Profit it earned you last year

−$0.04

Free cash flow it threw off

—

Debt you’d be carrying

—

10 shares is a claim on −$0.03 of net worth that earned you −$0.04 last year.

iii. Is this a good business?

Moat signal · return on equity

-672% avg · 5y

FY21 318%FY22 -871%FY23 -1463%FY24 —FY25 —

It earned an average -672% 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

−35% shares · 5y

Share count is down 35% 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

only 0 years of FCF (need ≥3) — model not applicable

DCF · Growth Exit 5Y

not applicable

only 0 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

10-K · period ending 2021-12-31 · accession 0001493152-23-007239 (NetIncomeLoss)
10-K · period ending 2022-12-31 · accession 0001493152-24-010662 (NetIncomeLoss)
10-K · period ending 2023-12-31 · accession 0001641172-25-000633 (NetIncomeLoss)
10-K · period ending 2024-12-31 · accession 0001493152-26-013575 (NetIncomeLoss)
10-K · period ending 2021-12-31 · accession 0001493152-23-007239 (NetCashProvidedByUsedInOperatingActivities)
10-K · period ending 2022-12-31 · accession 0001493152-24-010662 (NetCashProvidedByUsedInOperatingActivities)
10-K · period ending 2023-12-31 · accession 0001641172-25-000633 (NetCashProvidedByUsedInOperatingActivities)
10-K · period ending 2024-12-31 · accession 0001493152-26-013575 (NetCashProvidedByUsedInOperatingActivities)
10-K · period ending 2021-12-31 · accession 0001493152-23-007239 (CashAndCashEquivalentsAtCarryingValue)
10-K · period ending 2022-12-31 · accession 0001493152-24-010662 (CashAndCashEquivalentsAtCarryingValue)
10-K · period ending 2023-12-31 · accession 0001641172-25-000633 (CashAndCashEquivalentsAtCarryingValue)