MeritValue

Zivo Bioscience, Inc.

ZIVOdata completeness 75%15 fiscal years on file

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

The thesis, from the filings

Zivo Bioscience, Inc. earns about -145% on equity, and has bought back 39% of its shares over 5 years. 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 2020FY 2021FY 2022FY 2023FY 2024
Revenue$20,0001$02$03$27,6504$157,2204
Net income−$9.11M5−$8.76M6−$8.75M7−$7.78M8−$13.4M8
Operating cash flow−$2.59M9−$6.8M10−$7.1M11−$5.8M12−$4.31M12
Capital expenditure—————
Free cash flow (derived)—————
Total debt—————
Cash & equivalents$137,86213$8.9M13$1.8M13$274,38014$1.54M14
Diluted shares5.2M9.4M1.6M1.7M3.2M

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
−$1.63
your share of equity
Profit it earned you last year
−$42.26
Free cash flow it threw off
—
Debt you’d be carrying
—

10 shares is a claim on −$1.63 of net worth that earned you −$42.26 last year.

iii. Is this a good business?
Moat signal · return on equity
-145% avg · 5y
FY20 —FY21 -145%FY22 —FY23 —FY24 —

It earned an average -145% 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
−39% shares · 5y

Share count is down 39% over 5 years — management has been buying back stock, quietly handing owners a bigger slice.

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 2020-12-31 · accession 0001654954-22-005298 (Revenues)
  2. 10-K · period ending 2021-12-31 · accession 0001654954-23-002845 (Revenues)
  3. 10-K · period ending 2022-12-31 · accession 0001654954-24-003228 (RevenueFromContractWithCustomerExcludingAssessedTax)
  4. 10-K · period ending 2023-12-31 · accession 0001654954-25-002948 (RevenueFromContractWithCustomerExcludingAssessedTax)
  5. 10-K · period ending 2020-12-31 · accession 0001654954-22-005298 (NetIncomeLoss)
  6. 10-K · period ending 2021-12-31 · accession 0001654954-23-002845 (NetIncomeLoss)
  7. 10-K · period ending 2022-12-31 · accession 0001654954-24-003228 (NetIncomeLoss)
  8. 10-K · period ending 2023-12-31 · accession 0001654954-25-002948 (NetIncomeLoss)
  9. 10-K · period ending 2020-12-31 · accession 0001654954-22-005298 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K · period ending 2021-12-31 · accession 0001654954-23-002845 (NetCashProvidedByUsedInOperatingActivities)
  11. 10-K · period ending 2022-12-31 · accession 0001654954-24-003228 (NetCashProvidedByUsedInOperatingActivities)
  12. 10-K · period ending 2023-12-31 · accession 0001654954-25-002948 (NetCashProvidedByUsedInOperatingActivities)
  13. 10-K · period ending 2020-12-31 · accession 0001654954-23-002845 (CashAndCashEquivalentsAtCarryingValue)
  14. 10-K · period ending 2023-12-31 · accession 0001654954-25-002948 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)