Rocket One Inc.

RKTOdata completeness 63%8 fiscal years on file

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

The thesis, from the filings

Rocket One Inc. earns about -148% on equity, but has diluted owners by 1446% 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

Figure	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025
Revenue	—	—	—	—	—
Net income	−$14.3M¹	−$11.4M²	−$8.11M³	−$8.19M⁴	−$12.5M⁴
Operating cash flow	−$12.1M⁵	−$9.3M⁶	−$8.45M⁷	−$6.98M⁸	−$9.8M⁸
Capital expenditure	—	—	—	—	—
Free cash flow (derived)	—	—	—	—	—
Total debt	—	—	—	—	—
Cash & equivalents	$8.54M⁹	$6.43M¹⁰	$9.29M¹¹	$7.04M¹²	$6.25M¹²
Diluted shares	893,226	1.2M	3.4M	6.4M	13.8M

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

$4.46

your share of equity

Profit it earned you last year

−$9.03

Free cash flow it threw off

—

Debt you’d be carrying

—

10 shares is a claim on $4.46 of net worth that earned you −$9.03 last year.

iii. Is this a good business?

Moat signal · return on equity

-148% avg · 5y

FY21 -145%FY22 -186%FY23 -85%FY24 -119%FY25 -203%

It earned an average -148% on equity over 5 years. Compare that to what it costs to fund the business.

seeing a moat in the numbers →

Management signal · capital allocation

+1446% shares · 5y

Share count is up 1446% 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 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

10-K · period ending 2021-12-31 · accession 0001213900-23-025455 (NetIncomeLoss)
10-K · period ending 2022-12-31 · accession 0001213900-24-027213 (NetIncomeLoss)
10-K · period ending 2023-12-31 · accession 0001013762-25-004108 (NetIncomeLoss)
10-K · period ending 2024-12-31 · accession 0001213900-26-035625 (NetIncomeLoss)
10-K · period ending 2021-12-31 · accession 0001213900-23-025455 (NetCashProvidedByUsedInOperatingActivities)
10-K · period ending 2022-12-31 · accession 0001213900-24-027213 (NetCashProvidedByUsedInOperatingActivities)
10-K · period ending 2023-12-31 · accession 0001013762-25-004108 (NetCashProvidedByUsedInOperatingActivities)
10-K · period ending 2024-12-31 · accession 0001213900-26-035625 (NetCashProvidedByUsedInOperatingActivities)
10-K · period ending 2021-12-31 · accession 0001213900-23-025455 (CashAndCashEquivalentsAtCarryingValue)
10-K · period ending 2022-12-31 · accession 0001213900-24-027213 (CashAndCashEquivalentsAtCarryingValue)
10-K · period ending 2023-12-31 · accession 0001013762-25-004108 (CashAndCashEquivalentsAtCarryingValue)
10-K · period ending 2024-12-31 · accession 0001213900-26-035625 (CashAndCashEquivalentsAtCarryingValue)