MeritValue

RemSleep Holdings Inc.

RMSLdata completeness 75%16 fiscal years on file
The thesis, from the filings

RemSleep Holdings Inc. earns about -2026% on equity, but has diluted owners by 124% 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 2021FY 2022FY 2023FY 2024FY 2025
Revenue—$320,7191$203,7182$117,1853$16,7213
Net income−$3.83M4−$1.49M5−$1.78M6−$1.08M7−$3.02M7
Operating cash flow−$349,9958−$2.23M9−$791,32910−$683,05711−$502,82911
Capital expenditure$67,25212$122,26213$147,62814$124,70015—
Free cash flow (derived)−$417,2478−$2.36M9−$938,95710−$807,75711—
Total debt—$93,24116———
Cash & equivalents$3.38M17$1.84M18$719,10019$463,34320$214,51420
Diluted shares700.9M1.46B1.46B1.48B1.57B

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
your share of equity
Profit it earned you last year
−$0.02
Free cash flow it threw off
—
Debt you’d be carrying
—

10 shares is a claim on $0 of net worth that earned you −$0.02 last year.

iii. Is this a good business?
Moat signal · return on equity
-2026% avg · 5y
FY21 -146%FY22 -55%FY23 -191%FY24 -320%FY25 -9420%

It earned an average -2026% 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
+124% shares · 5y

Share count is up 124% 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. 10-K · period ending 2022-12-31 · accession 0001213900-24-033498 (Revenues)
  2. 10-K · period ending 2023-12-31 · accession 0001213900-25-031599 (Revenues)
  3. 10-K · period ending 2024-12-31 · accession 0001213900-26-044165 (Revenues)
  4. 10-K · period ending 2021-12-31 · accession 0001213900-23-030177 (NetIncomeLoss)
  5. 10-K · period ending 2022-12-31 · accession 0001213900-24-033498 (NetIncomeLoss)
  6. 10-K · period ending 2023-12-31 · accession 0001213900-25-031599 (NetIncomeLoss)
  7. 10-K · period ending 2024-12-31 · accession 0001213900-26-044165 (NetIncomeLoss)
  8. 10-K · period ending 2021-12-31 · accession 0001213900-23-030177 (NetCashProvidedByUsedInOperatingActivities)
  9. 10-K · period ending 2022-12-31 · accession 0001213900-24-033498 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K · period ending 2023-12-31 · accession 0001213900-25-031599 (NetCashProvidedByUsedInOperatingActivities)
  11. 10-K · period ending 2024-12-31 · accession 0001213900-26-044165 (NetCashProvidedByUsedInOperatingActivities)
  12. 10-K · period ending 2021-12-31 · accession 0001213900-23-030177 (PaymentsToAcquirePropertyPlantAndEquipment)
  13. 10-K · period ending 2022-12-31 · accession 0001213900-24-033498 (PaymentsToAcquirePropertyPlantAndEquipment)
  14. 10-K · period ending 2023-12-31 · accession 0001213900-25-031599 (PaymentsToAcquirePropertyPlantAndEquipment)
  15. 10-K · period ending 2024-12-31 · accession 0001213900-26-044165 (PaymentsToAcquirePropertyPlantAndEquipment)
  16. 10-K · period ending 2022-12-31 · accession 0001213900-23-030177 (LongTermDebtCurrent)
  17. 10-K · period ending 2021-12-31 · accession 0001213900-22-015886 (CashAndCashEquivalentsAtCarryingValue)
  18. 10-K · period ending 2022-12-31 · accession 0001213900-25-031599 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)
  19. 10-K · period ending 2023-12-31 · accession 0001213900-25-031599 (CashAndCashEquivalentsAtCarryingValue)
  20. 10-K · period ending 2024-12-31 · accession 0001213900-26-044165 (CashAndCashEquivalentsAtCarryingValue)