Real Messenger Corp
RMSGdata completeness 63%3 fiscal years on fileData notes: no data for concept 'revenue'; no data for concept 'totalDebt'; no data for concept 'interestExpense'; no data for concept 'incomeTaxExpense'
Real Messenger Corp earns about -254% on invested capital, but has diluted owners by 35% over 3 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.
| Figure | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|
| Revenue | — | — | — |
| Net income | −$4.26M1 | −$4.9M1 | −$3.38M1 |
| Operating cash flow | −$5.06M2 | −$4.76M2 | −$4.01M2 |
| Capital expenditure | $31,7223 | $12,6213 | — |
| Free cash flow (derived) | −$5.09M2 | −$4.77M2 | — |
| Total debt | — | — | — |
| Cash & equivalents | — | $597,1604 | $2.58M4 |
| Diluted shares | 4.5M | 4.5M | 6.1M |
Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).
10 shares is a claim on $6.09 of net worth that earned you −$5.55 last year.
It earned an average -254% on invested capital over 3 years. Compare that to what it costs to fund the business.
seeing a moat in the numbers →Share count is up 35% over 3 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.
Different models answer different questions — which to trust when →
- 20-F · period ending 2023-03-31 · accession 0001641172-25-021609 (NetIncomeLoss)
- 20-F · period ending 2023-03-31 · accession 0001641172-25-021609 (NetCashProvidedByUsedInOperatingActivities)
- 20-F · period ending 2023-03-31 · accession 0001641172-25-021609 (PaymentsToAcquirePropertyPlantAndEquipment)
- 20-F · period ending 2024-03-31 · accession 0001641172-25-021609 (CashAndCashEquivalentsAtCarryingValue)