MeritValue

SafeSpace Global Corp

SSGCdata completeness 63%12 fiscal years on file

Data notes: no data for concept 'incomeTaxExpense'; no data for concept 'pretaxIncome'

The thesis, from the filings

SafeSpace Global Corp earns about -61% on equity, but has diluted owners by 250% 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———$322,0001—
Net income−$1.46M2−$1.36M3−$1.3M4−$702,4865−$4.64M5
Operating cash flow−$592,1926−$212,1777−$106,2038−$267,7299−$2.68M9
Capital expenditure—————
Free cash flow (derived)—————
Total debt$555,00010$975,00011$225,00012$225,00012—
Cash & equivalents$11,44313$1,05114$41115$175,56216$7.55M16
Diluted shares37.4M42.0M44.1M70.0M130.9M

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
$0.58
your share of equity
Profit it earned you last year
−$0.35
Free cash flow it threw off
—
Debt you’d be carrying
—

10 shares is a claim on $0.58 of net worth that earned you −$0.35 last year.

iii. Is this a good business?
Moat signal · return on equity
-61% avg · 5y
FY21 —FY22 —FY23 —FY24 —FY25 -61%

It earned an average -61% 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
+250% shares · 5y

Share count is up 250% over 5 years — owners have been diluted. Worth asking what they got for it. Total debt has fallen 59% — deleveraging.

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
  1. 10-K · period ending 2024-07-31 · accession 0001493152-25-020074 (RevenueFromContractWithCustomerExcludingAssessedTax)
  2. 10-K · period ending 2021-07-31 · accession 0001493152-22-026689 (NetIncomeLoss)
  3. 10-K · period ending 2022-07-31 · accession 0001493152-23-040543 (NetIncomeLoss)
  4. 10-K · period ending 2023-07-31 · accession 0001493152-24-042789 (NetIncomeLoss)
  5. 10-K · period ending 2024-07-31 · accession 0001493152-25-020074 (NetIncomeLoss)
  6. 10-K · period ending 2021-07-31 · accession 0001493152-22-026689 (NetCashProvidedByUsedInOperatingActivities)
  7. 10-K · period ending 2022-07-31 · accession 0001493152-23-040543 (NetCashProvidedByUsedInOperatingActivities)
  8. 10-K · period ending 2023-07-31 · accession 0001493152-24-042789 (NetCashProvidedByUsedInOperatingActivities)
  9. 10-K · period ending 2024-07-31 · accession 0001493152-25-020074 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K · period ending 2021-07-31 · accession 0001493152-22-026689 (LongTermDebtCurrent)
  11. 10-K · period ending 2022-07-31 · accession 0001493152-23-040543 (LongTermDebtNoncurrent)
  12. 10-K · period ending 2023-07-31 · accession 0001493152-24-042789 (LongTermDebtNoncurrent)
  13. 10-K · period ending 2021-07-31 · accession 0001493152-22-026689 (CashAndCashEquivalentsAtCarryingValue)
  14. 10-K · period ending 2022-07-31 · accession 0001493152-23-040543 (CashAndCashEquivalentsAtCarryingValue)
  15. 10-K · period ending 2023-07-31 · accession 0001493152-24-042789 (CashAndCashEquivalentsAtCarryingValue)
  16. 10-K · period ending 2024-07-31 · accession 0001493152-25-020074 (CashAndCashEquivalentsAtCarryingValue)