MeritValue

QUEST PATENT RESEARCH CORP

QPRCdata completeness 63%23 fiscal years on file

Data notes: no data for concept 'capex'; no data for concept 'investmentsAtFairValue'; no data for concept 'netInvestmentIncome'; no data for concept 'gainsOnRealEstateSales'; no data for concept 'realEstateImpairment'; no data for concept 'dividendsPaid'

i. The business — what you’d actually own
FigureFY 2021FY 2022FY 2023FY 2024FY 2025
Revenue$2.05M1$451,1942$13.2M3$2.8M4—
Net income−$4.15M5−$753,5166$3.65M6−$2.47M7−$8.49M7
Operating cash flow−$49,6738−$914,1789$1.93M10−$390,34011−$5.92M11
Capital expenditure—————
Free cash flow (derived)—————
Total debt$6.15M12————
Cash & equivalents$264,84013$90,60114$563,48415$482,02316$192,60616
Diluted shares5.1M5.3M5.3M5.3M5.3M

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
−$32.25
your share of equity
Profit it earned you last year
−$15.93
Free cash flow it threw off
—
Debt you’d be carrying
—

10 shares is a claim on −$32.25 of net worth that earned you −$15.93 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.

seeing a moat in the numbers →
Management signal · capital allocation
+4% shares · 5y

Share count is up 4% over 5 years — owners have been diluted. Worth asking what they got for it. Total debt has held roughly steady.

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 v0.5.0
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 0001213900-23-025520 (RevenueFromContractWithCustomerIncludingAssessedTax)
  2. 10-K/A · period ending 2022-12-31 · accession 0001213900-24-042513 (RevenueFromContractWithCustomerIncludingAssessedTax)
  3. 10-K · period ending 2023-12-31 · accession 0001013762-25-002745 (RevenueFromContractWithCustomerIncludingAssessedTax)
  4. 10-K · period ending 2024-12-31 · accession 0001213900-26-036431 (RevenueFromContractWithCustomerIncludingAssessedTax)
  5. 10-K · period ending 2021-12-31 · accession 0001213900-23-025520 (NetIncomeLoss)
  6. 10-K · period ending 2022-12-31 · accession 0001213900-24-026933 (NetIncomeLoss)
  7. 10-K · period ending 2024-12-31 · accession 0001213900-26-036431 (ProfitLoss)
  8. 10-K · period ending 2021-12-31 · accession 0001213900-23-025520 (NetCashProvidedByUsedInOperatingActivities)
  9. 10-K/A · period ending 2022-12-31 · accession 0001213900-24-042513 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K · period ending 2023-12-31 · accession 0001013762-25-002745 (NetCashProvidedByUsedInOperatingActivities)
  11. 10-K · period ending 2024-12-31 · accession 0001213900-26-036431 (NetCashProvidedByUsedInOperatingActivities)
  12. 10-K · period ending 2021-12-31 · accession 0001213900-22-017254 (ShortTermBorrowings)
  13. 10-K · period ending 2021-12-31 · accession 0001213900-23-025520 (CashAndCashEquivalentsAtCarryingValue)
  14. 10-K/A · period ending 2022-12-31 · accession 0001213900-24-042513 (CashAndCashEquivalentsAtCarryingValue)
  15. 10-K · period ending 2023-12-31 · accession 0001013762-25-002745 (CashAndCashEquivalentsAtCarryingValue)
  16. 10-K · period ending 2024-12-31 · accession 0001213900-26-036431 (CashAndCashEquivalentsAtCarryingValue)