RetinalGenix Technologies Inc.

RTGNdata completeness 50%6 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 'investmentsAtFairValue'; no data for concept 'netInvestmentIncome'; no data for concept 'gainsOnRealEstateSales'; no data for concept 'realEstateImpairment'; no data for concept 'dividendsPaid'; no data for concept 'incomeTaxExpense'; no data for concept 'pretaxIncome'

i. The business — what you’d actually own

Figure	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025
Revenue	—	—	—	—	—
Net income	−$2.18M¹	−$3.91M²	−$2.09M³	−$4.32M⁴	−$2.43M⁴
Operating cash flow	−$1.17M⁵	−$199,287⁶	−$451,661⁷	−$741,936⁸	−$558,350⁸
Capital expenditure	—	—	—	—	—
Free cash flow (derived)	—	—	—	—	—
Total debt	—	—	—	—	—
Cash & equivalents	$4,947⁹	$38¹⁰	—	—	—
Diluted shares	41.2M	15.6M	17.4M	17.9M	18.6M

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

−$1.24

your share of equity

Profit it earned you last year

−$1.31

Free cash flow it threw off

—

Debt you’d be carrying

—

10 shares is a claim on −$1.24 of net worth that earned you −$1.31 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

−55% shares · 5y

Share count is down 55% over 5 years — management has been buying back stock, quietly handing owners a bigger slice.

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 v0.5.0

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/A · period ending 2021-12-31 · accession 0001493152-23-021374 (NetIncomeLoss)
10-K · period ending 2022-12-31 · accession 0001493152-24-012185 (NetIncomeLoss)
10-K · period ending 2023-12-31 · accession 0001641172-25-001788 (NetIncomeLoss)
10-K · period ending 2024-12-31 · accession 0001493152-26-016638 (NetIncomeLoss)
10-K/A · period ending 2021-12-31 · accession 0001493152-23-021374 (NetCashProvidedByUsedInOperatingActivities)
10-K · period ending 2022-12-31 · accession 0001493152-24-012185 (NetCashProvidedByUsedInOperatingActivities)
10-K · period ending 2023-12-31 · accession 0001641172-25-001788 (NetCashProvidedByUsedInOperatingActivities)
10-K · period ending 2024-12-31 · accession 0001493152-26-016638 (NetCashProvidedByUsedInOperatingActivities)
10-K/A · period ending 2021-12-31 · accession 0001493152-23-021374 (CashAndCashEquivalentsAtCarryingValue)
10-K · period ending 2022-12-31 · accession 0001493152-24-012185 (CashAndCashEquivalentsAtCarryingValue)