MeritValue

CHASE PACKAGING CORP

WHLTdata completeness 63%16 fiscal years on file

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

The thesis, from the filings

CHASE PACKAGING CORP earns about -98% on equity, with a roughly flat share count. 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$03$03—
Net income−$1.52M4−$55,8925−$403,0306−$88,9497−$76,7427
Operating cash flow−$73,5368−$55,8929−$53,07210−$90,46111−$75,74411
Capital expenditure—————
Free cash flow (derived)—————
Total debt—————
Cash & equivalents$497,13512$441,24313$388,17114$297,71015$221,96615
Diluted shares61.9M61.9M61.9M61.9M61.9M

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
$0.04
your share of equity
Profit it earned you last year
−$0.01
Free cash flow it threw off
—
Debt you’d be carrying
—

10 shares is a claim on $0.04 of net worth that earned you −$0.01 last year.

iii. Is this a good business?
Moat signal · return on equity
-98% avg · 5y
FY21 -307%FY22 -13%FY23 -105%FY24 -30%FY25 -35%

It earned an average -98% 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
−0% shares · 5y

Share count is roughly flat over 5 years — little dilution, little buyback.

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 2021-12-31 · accession 0001477932-23-002067 (Revenues)
  2. 10-K · period ending 2022-12-31 · accession 0001477932-24-002131 (Revenues)
  3. 10-K · period ending 2023-12-31 · accession 0001477932-25-002339 (Revenues)
  4. 10-K · period ending 2021-12-31 · accession 0001477932-23-002067 (NetIncomeLoss)
  5. 10-K · period ending 2022-12-31 · accession 0001477932-24-002131 (NetIncomeLoss)
  6. 10-K · period ending 2023-12-31 · accession 0001477932-25-002339 (NetIncomeLoss)
  7. 10-K · period ending 2024-12-31 · accession 0001477932-26-001702 (NetIncomeLoss)
  8. 10-K · period ending 2021-12-31 · accession 0001477932-23-002067 (NetCashProvidedByUsedInOperatingActivities)
  9. 10-K · period ending 2022-12-31 · accession 0001477932-24-002131 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K · period ending 2023-12-31 · accession 0001477932-25-002339 (NetCashProvidedByUsedInOperatingActivities)
  11. 10-K · period ending 2024-12-31 · accession 0001477932-26-001702 (NetCashProvidedByUsedInOperatingActivities)
  12. 10-K · period ending 2021-12-31 · accession 0001477932-23-002067 (CashAndCashEquivalentsAtCarryingValue)
  13. 10-K · period ending 2022-12-31 · accession 0001477932-24-002131 (CashAndCashEquivalentsAtCarryingValue)
  14. 10-K · period ending 2023-12-31 · accession 0001477932-25-002339 (CashAndCashEquivalentsAtCarryingValue)
  15. 10-K · period ending 2024-12-31 · accession 0001477932-26-001702 (CashAndCashEquivalentsAtCarryingValue)