STRATEGIC ACQUISITIONS INC /NV/

STQNdata completeness 50%9 fiscal years on file

Data notes: no data for concept 'capex'; no data for concept 'interestExpense'; no data for concept 'incomeTaxExpense'

The thesis, from the filings

STRATEGIC ACQUISITIONS INC /NV/ earns about -319% on invested capital, but has diluted owners by 165% 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

Figure	FY 2020	FY 2021	FY 2023	FY 2024	FY 2025
Revenue	—	—	$58,938¹	$43,671²	—
Net income	−$46,540³	−$22,093³	−$162,260⁴	−$123,716⁵	−$40,223⁵
Operating cash flow	−$45,085⁶	−$19,798⁶	−$175,058⁷	−$110,124⁸	−$30,473⁸
Capital expenditure	—	—	—	—	—
Free cash flow (derived)	—	—	—	—	—
Total debt	—	—	$1.39M⁹	—	—
Cash & equivalents	—	—	—	—	—
Diluted shares	2.5M	2.7M	6.7M	6.7M	6.7M

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

your share of equity

Profit it earned you last year

−$0.06

Free cash flow it threw off

—

Debt you’d be carrying

—

10 shares is a claim on $0 of net worth that earned you −$0.06 last year.

iii. Is this a good business?

Moat signal · return on invested capital

-319% avg · 5y

FY20 -185%FY21 -46%FY23 -9%FY24 —FY25 -1035%

It earned an average -319% on invested capital over 5 years. Compare that to what it costs to fund the business.

seeing a moat in the numbers →

Management signal · capital allocation

+165% shares · 5y

Share count is up 165% 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

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 · period ending 2023-12-31 · accession 0001493152-25-005023 (RevenueFromContractWithCustomerExcludingAssessedTax)
10-K/A · period ending 2024-12-31 · accession 0001493152-26-020105 (RevenueFromContractWithCustomerExcludingAssessedTax)
10-K · period ending 2020-12-31 · accession 0001493152-22-010058 (NetIncomeLoss)
10-K · period ending 2023-12-31 · accession 0001493152-25-005023 (NetIncomeLoss)
10-K/A · period ending 2024-12-31 · accession 0001493152-26-020105 (NetIncomeLoss)
10-K · period ending 2020-12-31 · accession 0001493152-22-010058 (NetCashProvidedByUsedInOperatingActivities)
10-K · period ending 2023-12-31 · accession 0001493152-25-005023 (NetCashProvidedByUsedInOperatingActivities)
10-K/A · period ending 2024-12-31 · accession 0001493152-26-020105 (NetCashProvidedByUsedInOperatingActivities)
10-K · period ending 2023-12-31 · accession 0001493152-24-011312 (LongTermDebt)