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High riskNext report: Due any day
The short versionA company still losing money with shrinking sales, with high risk. Institutions are trimming.
Watch out for
- About 3 months of cash left at its current burn
- Share count growing 48.9% a year (dilution)
- Losing money, losses are large next to sales
Money moves
- No insider buying or selling in the last 30 days
- Institutions cut 12% from their holdings in the quarter ending June 2026 (5 bought, 11 sold)
Facts from SEC filings, not a recommendation.
The business over time
Last 12 quarters, from SEC filings
Sales, Jun '26$5.8M-14% vs a year earlier
Sep '23Tap a barJun '26
Last 12 months: $24.7M, down 14% from the 12 months before. Over 5 years, sales grew about 30% a year.
Business quality
The checklist Warren Buffett-style investors use. Annual numbers for 2025.- MissReturn on equity 15%+Earns a lot on the money owners have in the business.-101.1%
- PassDebt under half of equityNot relying on borrowed money.0.14x equity
- MissNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.-30.3%
- MissProfitable every yearSteady profits, not one good year.1 of 8 years
- MissFree cash flow positiveBrings in more cash than it spends to run and grow.-$8.0M
- MissShare count not growingNot diluting owners. Falling means buybacks.+229.8% in 3 years
- MissGross margin 40%+Pricing power: sells for well above what it costs to make.25.6%
- Revenue
- $26.6M
- -13.5% vs prior year
- 5-year growth
- +29.7%/yr
- revenue, per year
- Total debt
- $2.1M
- 0.14x equity
- Current ratio
- 0.42x
- short-term assets / bills due
From annual reports filed with the SEC. A checklist is a starting point for research, not a verdict.
Latest quarter
Quarter ended Jun 30, 2026- Revenue
- $5.8M
- -13.7% YoY
- EPS
- -$0.04
- vs -$0.09
- Op. margin
- -25.7%
- +9.0 pts
- Gross margin
- 24.6%
- +0.2 pts
- Free cash flow
- -$69K
- Share count
- +42.5%
- vs a year ago
Insider rating
Last 90 days
No open-market insider buys or sells in the last 90 days.
Weekly insider trendNo trades to chart yet.
Filing buzz
Last 7 days vs normal
0/ 100
- This week
- 0
- Normal week
- 0.8
- vs normal
- 0.0x
SEC filings of any kind. 50 means a normal week.
Institutional ownership
▼Distributing-11.9%Institutions cut 11.9% from their holdings. 5 bought, 11 sold.
Shares held by institutions2.5M
Sep '24Jun '26
Share count growthYearly rate, last 3 years
+56.2%Cash runwayAt last year's cash burn
1 monthsDebt to equityLatest balance sheet: debt compared with what owners have
0.3x · $4.1M debtShares outstandingLatest reported
46MWhy high risk- Losing money, losses are large next to sales
- About 1 month of cash left at its current burn
- Share count growing 56.2% a year (dilution)
- Bills due within a year exceed short-term assets
- Revenue down 13.5% from the year before
- Exchange listing notice (a delisting warning or a move to another exchange)
Next reportDue any dayEstimated from the same quarter last year
- Results filedMar 20, 2023
- Results filedAug 6, 2020
Insider trades
Open-market buys and sells, last 90 days
No open-market buys or sells in 90 days. Grants and option exercises are left out.
"Owns after" is the insider's holding right after the trade. Pre-planned (10b5-1) sales are set up months ahead, a weaker signal.
Latest filings
Straight from SEC EDGAR
Holdings reportDavid Grant JemmettChief Executive Officer, Director
Holdings reportDebra Lou SmithChief Financial Officer
Holdings reportDebra Lou SmithChief Financial Officer
Option exerciseDebra Lou SmithChief Financial Officer
125,000 shares
- Now owns 98,850 shares
- 2 transactions
- Filed 11 days after trade
- Also: Stock award, Shares withheld for taxes
Option exerciseDavid Grant JemmettChief Executive Officer, Director
234,375 shares
- Now owns 185,343 shares
- 2 transactions
- Filed 11 days after trade
- Also: Shares withheld for taxes
Option exerciseDavid Grant JemmettChief Executive Officer, Director, 10% owner
138,468 shares at $0.29 · $40K
- +3% of holdings
- Now owns 4,567,468 shares
- Filed 24 days after trade