MeritValue

Awareness Group, Inc.

TAAGdata completeness 88%6 fiscal years on file

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

The thesis, from the filings

Awareness Group, Inc. earns about -25% on equity, but has diluted owners by 5424% 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—$01$02$604,7893$540,8913
Net income−$259,4784−$61,6985−$399,9186−$107,7097−$1.08M7
Operating cash flow−$24,6668−$27,7759−$51,70610−$592,74211−$495,13411
Capital expenditure———$141,80612$7812
Free cash flow (derived)———−$734,54811−$495,21211
Total debt—————
Cash & equivalents$2,13213$17714$58815$95,81515$89,91416
Diluted shares1.1M9.3M37.2M56.2M59.6M

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
shares
Net assets behind them
$0.73
your share of equity
Profit it earned you last year
−$0.18
Free cash flow it threw off
−$0.08
Debt you’d be carrying
—

10 shares is a claim on $0.73 of net worth that earned you −$0.18 and generated −$0.08 of cash last year.

iii. Is this a good business?
Moat signal · return on equity
-25% avg · 5y
FY21 —FY22 —FY23 —FY24 —FY25 -25%

It earned an average -25% 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
+5424% shares · 5y

Share count is up 5424% over 5 years — owners have been diluted. Worth asking what they got for it.

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 2 years of FCF (need ≥3) — model not applicable
DCF · Growth Exit 5Y
not applicable
only 2 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 2022-09-30 · accession 0001477932-24-000342 (Revenues)
  2. 10-K/A · period ending 2023-09-30 · accession 0001477932-25-004831 (Revenues)
  3. 10-K · period ending 2024-09-30 · accession 0001477932-26-002310 (Revenues)
  4. 10-K · period ending 2021-09-30 · accession 0001477932-23-001577 (NetIncomeLoss)
  5. 10-K · period ending 2022-09-30 · accession 0001477932-24-000342 (NetIncomeLoss)
  6. 10-K/A · period ending 2023-09-30 · accession 0001477932-25-004831 (NetIncomeLoss)
  7. 10-K · period ending 2024-09-30 · accession 0001477932-26-002310 (NetIncomeLoss)
  8. 10-K · period ending 2021-09-30 · accession 0001477932-23-001577 (NetCashProvidedByUsedInOperatingActivities)
  9. 10-K · period ending 2022-09-30 · accession 0001477932-24-000342 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K/A · period ending 2023-09-30 · accession 0001477932-25-004831 (NetCashProvidedByUsedInOperatingActivities)
  11. 10-K · period ending 2024-09-30 · accession 0001477932-26-002310 (NetCashProvidedByUsedInOperatingActivities)
  12. 10-K · period ending 2024-09-30 · accession 0001477932-26-002310 (PaymentsToAcquirePropertyPlantAndEquipment)
  13. 10-K · period ending 2021-09-30 · accession 0001477932-23-001577 (CashAndCashEquivalentsAtCarryingValue)
  14. 10-K · period ending 2022-09-30 · accession 0001477932-24-000342 (CashAndCashEquivalentsAtCarryingValue)
  15. 10-K/A · period ending 2023-09-30 · accession 0001477932-25-004831 (CashAndCashEquivalentsAtCarryingValue)
  16. 10-K · period ending 2025-09-30 · accession 0001477932-26-002310 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)