Right On Brands, Inc.

RTONdata completeness 75%11 fiscal years on file

Data notes: 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'

i. The business — what you’d actually own

Figure	FY 2019	FY 2020	FY 2021	FY 2022	FY 2023
Revenue	$255,821¹	$328,580²	$77,960³	$997,100⁴	$1.14M⁵
Net income	−$6.09M⁶	−$3.48M⁷	−$1.85M⁸	−$257,016⁹	$8,726⁹
Operating cash flow	−$873,623¹⁰	−$683,000¹¹	−$203,041¹²	−$150,703¹³	−$66,107¹³
Capital expenditure	$18,000¹⁴	$0¹⁵	$5,953¹⁵	—	—
Free cash flow (derived)	−$891,623¹⁰	−$683,000¹¹	−$208,994¹²	—	—
Total debt	—	$574,941¹⁶	$705,275¹⁷	—	—
Cash & equivalents	$90,883¹⁸	$67,153¹⁸	$45,780¹⁹	$28,056¹⁹	$33,322¹⁹
Diluted shares	66.8M	—	3.38B	5.92B	6.09B

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

−$0

your share of equity

Profit it earned you last year

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 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

+9027% shares · 5y

Share count is up 9027% over 5 years — owners have been diluted. Worth asking what they got for it. Total debt has risen 23% over the same window.

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

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

10-K · period ending 2019-03-31 · accession 0001477932-21-001972 (Revenues)
10-K · period ending 2020-03-31 · accession 0001477932-21-005151 (Revenues)
10-K · period ending 2021-03-31 · accession 0001477932-22-004928 (Revenues)
10-K · period ending 2022-03-31 · accession 0001477932-23-006220 (Revenues)
10-K · period ending 2023-03-31 · accession 0001477932-23-006220 (RevenueFromContractWithCustomerIncludingAssessedTax)
10-K · period ending 2019-03-31 · accession 0001477932-21-001972 (NetIncomeLoss)
10-K · period ending 2020-03-31 · accession 0001477932-21-005151 (NetIncomeLoss)
10-K · period ending 2021-03-31 · accession 0001477932-22-004928 (NetIncomeLoss)
10-K · period ending 2022-03-31 · accession 0001477932-23-006220 (NetIncomeLoss)
10-K · period ending 2019-03-31 · accession 0001477932-21-001972 (NetCashProvidedByUsedInOperatingActivities)
10-K · period ending 2020-03-31 · accession 0001477932-21-005151 (NetCashProvidedByUsedInOperatingActivities)
10-K · period ending 2021-03-31 · accession 0001477932-22-004928 (NetCashProvidedByUsedInOperatingActivities)
10-K · period ending 2022-03-31 · accession 0001477932-23-006220 (NetCashProvidedByUsedInOperatingActivities)
10-K · period ending 2019-03-31 · accession 0001477932-21-001972 (PaymentsToAcquirePropertyPlantAndEquipment)
10-K · period ending 2020-03-31 · accession 0001477932-21-005151 (PaymentsToAcquirePropertyPlantAndEquipment)
10-K · period ending 2020-03-31 · accession 0001477932-21-001972 (LongTermDebt)
10-K · period ending 2021-03-31 · accession 0001477932-21-005151 (LongTermDebt)
10-K · period ending 2019-03-31 · accession 0001477932-21-001972 (CashAndCashEquivalentsAtCarryingValue)
10-K · period ending 2021-03-31 · accession 0001477932-23-006220 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)