Palisades Venture Inc.

PVITdata completeness 75%3 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 2023	FY 2024	FY 2025
Revenue	$147,095¹	$178,962²	$198,141²
Net income	$12,161³	−$9,910⁴	−$83,241⁴
Operating cash flow	$43,652⁵	$12,326⁶	−$40,415⁶
Capital expenditure	—	—	—
Free cash flow (derived)	—	—	—
Total debt	—	—	—
Cash & equivalents	$4,207⁷	$1,103⁷	$906⁷
Diluted shares	100.0M	100.0M	109.5M

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

−$0.04

your share of equity

Profit it earned you last year

−$0.01

Free cash flow it threw off

—

Debt you’d be carrying

—

10 shares is a claim on −$0.04 of net worth that earned you −$0.01 last year.

iii. Is this a good business?

Moat signal · return on equity

— avg · 3y

Not enough data in the filings for a return-on-capital reading.

Management signal · capital allocation

+9% shares · 3y

Share count is up 9% over 3 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 —

Different models answer different questions — which to trust when →

Sources — the receipts