MeritValue

OZ VISION INC.

OZVNdata completeness 75%8 fiscal years on file

Data notes: no data for concept 'totalDebt'; no data for concept 'interestExpense'

The thesis, from the filings

OZ VISION INC. earns about -210% on equity, but has diluted owners by 89% 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$1M1$1.07M1$296,4222$240,7173$54,2323
Net income$27,8244−$67,8134−$7,1285−$2.48M6−$65,6016
Operating cash flow$31,8247−$51,8138−$7,1289$112,98310−$15,54910
Capital expenditure——$011$97,99012—
Free cash flow (derived)——−$7,1289$14,99310—
Total debt—————
Cash & equivalents$34,55013$7,73713$60914$15,60215$5215
Diluted shares15.6M15.6M15.6M26.3M29.4M

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
$4.28
your share of equity
Profit it earned you last year
−$0.02
Free cash flow it threw off
—
Debt you’d be carrying
—

10 shares is a claim on $4.28 of net worth that earned you −$0.02 last year.

iii. Is this a good business?
Moat signal · return on equity
-210% avg · 5y
FY21 55%FY22 -877%FY23 —FY24 -20%FY25 -1%

It earned an average -210% 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
+89% shares · 5y

Share count is up 89% over 5 years — owners have been diluted. Worth asking what they got for it.

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 2 years of FCF (need ≥3) — model not applicable
DCF · Growth Exit 5Y
not applicable
only 2 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/A · period ending 2021-06-30 · accession 0001607062-22-000640 (Revenues)
  2. 10-K · period ending 2023-06-30 · accession 0001493152-24-038840 (RevenueFromContractWithCustomerExcludingAssessedTax)
  3. 10-K/A · period ending 2024-06-30 · accession 0001493152-25-018232 (RevenueFromContractWithCustomerExcludingAssessedTax)
  4. 10-K/A · period ending 2021-06-30 · accession 0001607062-24-000086 (NetIncomeLoss)
  5. 10-K · period ending 2023-06-30 · accession 0001493152-24-038840 (NetIncomeLoss)
  6. 10-K/A · period ending 2024-06-30 · accession 0001493152-25-018232 (NetIncomeLoss)
  7. 10-K/A · period ending 2021-06-30 · accession 0001607062-22-000640 (NetCashProvidedByUsedInOperatingActivities)
  8. 10-K/A · period ending 2022-06-30 · accession 0001607062-24-000086 (NetCashProvidedByUsedInOperatingActivities)
  9. 10-K · period ending 2023-06-30 · accession 0001493152-24-038840 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K/A · period ending 2024-06-30 · accession 0001493152-25-018232 (NetCashProvidedByUsedInOperatingActivities)
  11. 10-K · period ending 2023-06-30 · accession 0001493152-24-038840 (PaymentsToAcquireProductiveAssets)
  12. 10-K/A · period ending 2024-06-30 · accession 0001493152-25-018232 (PaymentsToAcquireProductiveAssets)
  13. 10-K/A · period ending 2021-06-30 · accession 0001607062-22-000640 (CashAndCashEquivalentsAtCarryingValue)
  14. 10-K · period ending 2023-06-30 · accession 0001493152-24-038840 (CashAndCashEquivalentsAtCarryingValue)
  15. 10-K/A · period ending 2024-06-30 · accession 0001493152-25-018232 (CashAndCashEquivalentsAtCarryingValue)