MeritValue

ORIGINCLEAR, INC.

OCLNdata completeness 88%16 fiscal years on file

Data notes: no data for concept 'incomeTaxExpense'

i. The business — what you’d actually own
FigureFY 2021FY 2022FY 2023FY 2024FY 2025
Revenue$4.14M1$10.4M1$6.71M2$4.41M3$6.82M3
Net income−$2.12M4−$10.8M4−$11.6M5−$18.2M6−$18.3M6
Operating cash flow−$4.84M7−$4.65M7−$5.51M8−$3.75M9−$3.59M9
Capital expenditure—————
Free cash flow (derived)—————
Total debt———$2.02M10$2.62M11
Cash & equivalents$706,42112$1.35M13$488,83014$371,51515$828,00715
Diluted shares180.5M679.0M1.29B1.58B12.12B

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
−$0.02
your share of equity
Profit it earned you last year
−$0.02
Free cash flow it threw off
—
Debt you’d be carrying
$0

10 shares is a claim on −$0.02 of net worth that earned you −$0.02 last year, against $0 of debt.

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
+6617% shares · 5y

Share count is up 6617% over 5 years — owners have been diluted. Worth asking what they got for it. Total debt has risen 30% over the same window.

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
  1. 10-K · period ending 2021-12-31 · accession 0001213900-23-030192 (Revenues)
  2. 10-K · period ending 2023-12-31 · accession 0001213900-25-026104 (RevenueFromContractWithCustomerIncludingAssessedTax)
  3. 10-K · period ending 2024-12-31 · accession 0001213900-26-042634 (RevenueFromContractWithCustomerIncludingAssessedTax)
  4. 10-K · period ending 2021-12-31 · accession 0001213900-23-030192 (NetIncomeLoss)
  5. 10-K · period ending 2023-12-31 · accession 0001213900-25-026104 (ProfitLoss)
  6. 10-K · period ending 2024-12-31 · accession 0001213900-26-042634 (NetIncomeLoss)
  7. 10-K · period ending 2021-12-31 · accession 0001213900-23-030192 (NetCashProvidedByUsedInOperatingActivities)
  8. 10-K · period ending 2023-12-31 · accession 0001213900-25-026104 (NetCashProvidedByUsedInOperatingActivities)
  9. 10-K · period ending 2024-12-31 · accession 0001213900-26-042634 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K · period ending 2024-12-31 · accession 0001213900-25-026104 (LongTermDebt)
  11. 10-K · period ending 2025-12-31 · accession 0001213900-26-042634 (LongTermDebt)
  12. 10-K · period ending 2021-12-31 · accession 0001213900-23-030192 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)
  13. 10-K · period ending 2022-12-31 · accession 0001213900-25-026104 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)
  14. 10-K · period ending 2023-12-31 · accession 0001213900-25-026104 (CashAndCashEquivalentsAtCarryingValue)
  15. 10-K · period ending 2024-12-31 · accession 0001213900-26-042634 (CashAndCashEquivalentsAtCarryingValue)