P2 Solar, Inc.

PTOSdata completeness 75%8 fiscal years on file

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

i. The business — what you’d actually own

Figure	FY 2014	FY 2022	FY 2023	FY 2024	FY 2025
Revenue	$153,055¹	$0²	$0³	$166,288⁴	$26,382⁴
Net income	−$424,187⁵	−$119,838⁶	−$177,528⁷	−$148,426⁸	−$34,492⁸
Operating cash flow	−$244,046⁹	−$24,136¹⁰	−$54,888¹¹	−$27,672¹²	−$68,752¹²
Capital expenditure	—	—	—	—	—
Free cash flow (derived)	—	—	—	—	—
Total debt	—	—	—	—	—
Cash & equivalents	—	$8,208¹³	$7,644¹⁴	$213¹⁴	$0¹⁴
Diluted shares	—	67.9M	67.9M	67.9M	73.9M

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

−$0.14

your share of equity

Profit it earned you last year

−$0

Free cash flow it threw off

—

Debt you’d be carrying

—

10 shares is a claim on −$0.14 of net worth that earned you −$0 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

+9% shares · 5y

Share count is up 9% 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

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