i. The business — what you’d actually own
| Figure | FY 2025 | FY 2026 |
|---|---|---|
| Revenue | $7.02M1 | $14.8M1 |
| Net income | −$7.66M2 | −$12.2M2 |
| Operating cash flow | −$1.01M3 | −$2.75M3 |
| Capital expenditure | $2,1384 | — |
| Free cash flow (derived) | −$1.01M3 | — |
| Total debt | — | — |
| Cash & equivalents | $4.23M5 | $2.69M5 |
| Diluted shares | 1,500 | 1,500 |
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
−$167,725.17
your share of equity
Profit it earned you last year
−$81,082.61
Free cash flow it threw off
—
Debt you’d be carrying
—
10 shares is a claim on −$167,725.17 of net worth that earned you −$81,082.61 last year.
iii. Is this a good business?
Moat signal · return on equity
— avg · 2y
Not enough data in the filings for a return-on-capital reading.
seeing a moat in the numbers →Management signal · capital allocation
−0% shares · 2y
Share count is roughly flat over 2 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 v0.5.0
Different models answer different questions — which to trust when →
Sources — the receipts
- 10-K · period ending 2025-06-30 · accession 0001829126-26-010462 (Revenues)
- 10-K · period ending 2025-06-30 · accession 0001829126-26-010462 (NetIncomeLoss)
- 10-K · period ending 2025-06-30 · accession 0001829126-26-010462 (NetCashProvidedByUsedInOperatingActivities)
- 10-K · period ending 2025-06-30 · accession 0001829126-26-010462 (PaymentsToAcquirePropertyPlantAndEquipment)
- 10-K · period ending 2025-06-30 · accession 0001829126-26-010462 (CashAndCashEquivalentsAtCarryingValue)