Cordyceps Sunshine Biotech Holdings Co., Ltd.

RAJAFdata completeness 75%5 fiscal years on file
i. The business — what you’d actually own
FigureFY 2021FY 2022FY 2023FY 2024FY 2025
Revenue$879,3181$53,3042$882,5333$1.25M3$1.25M3
Net income−$491,0064−$720,0934$751,6095−$226,2585−$154,8225
Operating cash flow−$365,3636−$321,3786$359,7247$312,0067−$35,8457
Capital expenditure$100,0008$4759$319,48710$349,23710
Free cash flow (derived)−$465,3636−$321,8536$40,2377−$37,2317
Total debt$471,10911$431,07911
Cash & equivalents$99,68412$6,62813$23,10413$37,28414$3,19914
Diluted shares100,000104.4M111.1M111.1M111.1M

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
−$0.05
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 −$0.05 of net worth that earned you −$0.01 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
+111020% shares · 5y

Share count is up 111020% 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 v0.1.0
DCF · Growth Exit 10Y
not applicable
3y-median FCF non-positive — growth-exit DCF not applicable (see EPV)
DCF · Growth Exit 5Y
not applicable
3y-median FCF non-positive — growth-exit DCF not applicable (see EPV)
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. 20-F · period ending 2021-12-31 · accession 0001213900-23-039368 (Revenues)
  2. 20-F/A · period ending 2022-12-31 · accession 0001213900-25-090714 (Revenues)
  3. 20-F · period ending 2023-12-31 · accession 0001213900-26-057774 (Revenues)
  4. 20-F/A · period ending 2021-12-31 · accession 0001213900-25-090714 (NetIncomeLoss)
  5. 20-F · period ending 2023-12-31 · accession 0001213900-26-057774 (NetIncomeLoss)
  6. 20-F/A · period ending 2021-12-31 · accession 0001213900-25-090714 (NetCashProvidedByUsedInOperatingActivities)
  7. 20-F · period ending 2023-12-31 · accession 0001213900-26-057774 (NetCashProvidedByUsedInOperatingActivities)
  8. 20-F/A · period ending 2021-12-31 · accession 0001213900-25-090714 (PaymentsToAcquirePropertyPlantAndEquipment)
  9. 20-F · period ending 2022-12-31 · accession 0001213900-23-039368 (PaymentsToAcquirePropertyPlantAndEquipment)
  10. 20-F · period ending 2023-12-31 · accession 0001213900-26-057774 (PaymentsToAcquirePropertyPlantAndEquipment)
  11. 20-F/A · period ending 2022-12-31 · accession 0001213900-25-090714 (LongTermDebtNoncurrent)
  12. 20-F · period ending 2021-12-31 · accession 0001213900-23-039368 (CashAndCashEquivalentsAtCarryingValue)
  13. 20-F/A · period ending 2022-12-31 · accession 0001213900-25-090714 (CashAndCashEquivalentsAtCarryingValue)
  14. 20-F · period ending 2024-12-31 · accession 0001213900-26-057774 (CashAndCashEquivalentsAtCarryingValue)