TurnOnGreen, Inc.

TOGIdata completeness 88%6 fiscal years on file

i. The business — what you’d actually own

Figure	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025
Revenue	$5.35M¹	$5.52M²	$4.2M³	$4.91M⁴	$7.23M⁴
Net income	−$1.83M⁵	−$4.22M⁶	−$4.83M⁷	−$3.97M⁸	−$2.11M⁸
Operating cash flow	−$4.34M⁹	−$2.67M¹⁰	−$3.34M¹¹	−$2.67M¹²	−$2.95M¹²
Capital expenditure	$18,000¹³	$263,000¹⁴	$42,000¹⁵	$42,000¹⁶	$80,000¹⁶
Free cash flow (derived)	−$4.36M⁹	−$2.93M¹⁰	−$3.38M¹¹	−$2.71M¹²	−$3.03M¹²
Total debt	—	$45,000¹⁷	—	—	—
Cash & equivalents	$21,778¹⁸	$95,000¹⁹	$21,000²⁰	$27,000²⁰	$65,000²⁰
Diluted shares	161.7M	54.3M	177.6M	183.9M	184.0M

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

−$1.79

your share of equity

Profit it earned you last year

−$0.11

Free cash flow it threw off

−$0.16

Debt you’d be carrying

—

10 shares is a claim on −$1.79 of net worth that earned you −$0.11 and generated −$0.16 of cash 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

+14% shares · 5y

Share count is up 14% 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

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 2021-12-31 · accession 0001214659-23-004976 (Revenues)
10-K · period ending 2022-12-31 · accession 0001214659-24-006652 (Revenues)
10-K · period ending 2023-12-31 · accession 0001214659-25-006296 (Revenues)
10-K · period ending 2024-12-31 · accession 0001214659-26-004113 (Revenues)
10-K · period ending 2021-12-31 · accession 0001214659-23-004976 (NetIncomeLoss)
10-K · period ending 2022-12-31 · accession 0001214659-24-006652 (NetIncomeLoss)
10-K · period ending 2023-12-31 · accession 0001214659-25-006296 (NetIncomeLoss)
10-K · period ending 2024-12-31 · accession 0001214659-26-004113 (NetIncomeLoss)
10-K · period ending 2021-12-31 · accession 0001214659-23-004976 (NetCashProvidedByUsedInOperatingActivities)
10-K · period ending 2022-12-31 · accession 0001214659-24-006652 (NetCashProvidedByUsedInOperatingActivities)
10-K · period ending 2023-12-31 · accession 0001214659-25-006296 (NetCashProvidedByUsedInOperatingActivities)
10-K · period ending 2024-12-31 · accession 0001214659-26-004113 (NetCashProvidedByUsedInOperatingActivities)
10-K · period ending 2021-12-31 · accession 0001214659-23-004976 (PaymentsToAcquirePropertyPlantAndEquipment)
10-K · period ending 2022-12-31 · accession 0001214659-24-006652 (PaymentsToAcquirePropertyPlantAndEquipment)
10-K · period ending 2023-12-31 · accession 0001214659-25-006296 (PaymentsToAcquirePropertyPlantAndEquipment)
10-K · period ending 2024-12-31 · accession 0001214659-26-004113 (PaymentsToAcquirePropertyPlantAndEquipment)
10-K · period ending 2022-12-31 · accession 0001214659-24-006652 (LongTermDebtCurrent)
10-K · period ending 2021-12-31 · accession 0001214659-22-004941 (CashAndCashEquivalentsAtCarryingValue)
10-K · period ending 2022-12-31 · accession 0001214659-25-006296 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)
10-K · period ending 2023-12-31 · accession 0001214659-26-004113 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)