MeritValue

MINERALRITE Corp

RITEdata completeness 75%6 fiscal years on file

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

The thesis, from the filings

MINERALRITE Corp earns about -122% on invested capital, but has diluted owners by 465701% 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 2011FY 2012FY 2013FY 2024FY 2025
Revenue——$397,1991$5,0002—
Net income−$339,4063−$454,0074−$3.53M4$396,7625−$291,5195
Operating cash flow−$132,5276−$10,9867−$369,3187−$378,4108−$306,4048
Capital expenditure——−$4,3009—$11,50010
Free cash flow (derived)——−$365,0187—−$317,9048
Total debt—————
Cash & equivalents$33,56011$9,33012$52,20611$10,45813$11,61713
Diluted shares1.0M7.8M—5.95B4.84B

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
$0.5
your share of equity
Profit it earned you last year
−$0
Free cash flow it threw off
−$0
Debt you’d be carrying
—

10 shares is a claim on $0.5 of net worth that earned you −$0 and generated −$0 of cash last year.

iii. Is this a good business?
Moat signal · return on invested capital
-122% avg · 5y
FY11 —FY12 -181%FY13 -308%FY24 0%FY25 -0%

It earned an average -122% on invested capital over 5 years. Compare that to what it costs to fund the business.

seeing a moat in the numbers →
Management signal · capital allocation
+465701% shares · 5y

Share count is up 465701% 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 · period ending 2013-12-31 · accession 0001504412-14-000232 (Revenues)
  2. 10-K/A · period ending 2024-12-31 · accession 0001539497-26-001592 (RevenueFromContractWithCustomerExcludingAssessedTax)
  3. 10-K/A · period ending 2011-12-31 · accession 0001127855-13-000280 (NetIncomeLoss)
  4. 10-K · period ending 2012-12-31 · accession 0001504412-14-000232 (NetIncomeLoss)
  5. 10-K/A · period ending 2024-12-31 · accession 0001539497-26-001592 (NetIncomeLoss)
  6. 10-K/A · period ending 2011-12-31 · accession 0001127855-13-000280 (NetCashProvidedByUsedInOperatingActivities)
  7. 10-K · period ending 2012-12-31 · accession 0001504412-14-000232 (NetCashProvidedByUsedInOperatingActivities)
  8. 10-K/A · period ending 2024-12-31 · accession 0001539497-26-001592 (NetCashProvidedByUsedInOperatingActivities)
  9. 10-K · period ending 2013-12-31 · accession 0001504412-14-000232 (PaymentsToAcquirePropertyPlantAndEquipment)
  10. 10-K/A · period ending 2025-12-31 · accession 0001539497-26-001592 (PaymentsToAcquirePropertyPlantAndEquipment)
  11. 10-K · period ending 2011-12-31 · accession 0001504412-14-000232 (CashAndCashEquivalentsAtCarryingValue)
  12. 10-K/A · period ending 2012-12-31 · accession 0001127855-13-000280 (CashAndCashEquivalentsAtCarryingValue)
  13. 10-K/A · period ending 2024-12-31 · accession 0001539497-26-001592 (CashAndCashEquivalentsAtCarryingValue)