BioStem Technologies (BioStem Technologies) Beneish M-Score : 0.00 (As of Jun. 06, 2024)

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What is BioStem Technologies Beneish M-Score?

The zones of discrimination for M-Score is as such:

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

The historical rank and industry rank for BioStem Technologies's Beneish M-Score or its related term are showing as below:

During the past 13 years, the highest Beneish M-Score of BioStem Technologies was 3.13. The lowest was -12.99. And the median was -3.59.

BioStem Technologies Beneish M-Score Historical Data

The historical data trend for BioStem Technologies's Beneish M-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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BioStem Technologies Beneish M-Score Chart

BioStem Technologies Annual Data

Trend

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Beneish M-Score

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3.13

-6.46

2.11

-10.76

BioStem Technologies Quarterly Data
	Sep15	Dec15	Dec16	Dec17	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Dec21	Mar22	Sep22	Dec22	Mar23	Sep23
Beneish M-Score	Get a 7-Day Free Trial															-3.21	-	-10.76	-12.99	-

Competitive Comparison of BioStem Technologies's Beneish M-Score

For the Biotechnology subindustry, BioStem Technologies's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

BioStem Technologies's Beneish M-Score Distribution in the Biotechnology Industry

For the Biotechnology industry and Healthcare sector, BioStem Technologies's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where BioStem Technologies's Beneish M-Score falls into.

BioStem Technologies Beneish M-Score Calculation

The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.

The M-Score Variables:

The M-score of BioStem Technologies for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 *

0.528 *

0.404 *

0.892 *

0.115 *

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 *

4.679 *

0.327 *

This Year (Sep23) TTM:

Last Year (Mar22) TTM:

Total Receivables was $2.91 Mil.
Revenue was 3.599 + 0.576 + 0.793 + 1.146 = $6.11 Mil.
Gross Profit was 3.292 + 0.475 + 0.668 + 0.908 = $5.34 Mil.
Total Current Assets was $3.80 Mil.
Total Assets was $5.81 Mil.
Property, Plant and Equipment(Net PPE) was $1.39 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.26 Mil.
Selling, General, & Admin. Expense(SGA) was $10.59 Mil.
Total Current Liabilities was $7.91 Mil.
Long-Term Debt & Capital Lease Obligation was $1.41 Mil.
Net Income was 0.367 + -1.703 + -3.604 + -0.797 = $-5.74 Mil.
Non Operating Income was 0 + 0.003 + 0.102 + -0.002 = $0.10 Mil.
Cash Flow from Operations was 0 + -0.664 + 0 + 0 = $-0.66 Mil.

Total Receivables was $0.00 Mil.
Revenue was 2.779 + 0 + 0.953 + 1.038 = $4.77 Mil.
Gross Profit was 2.503 + 0 + 0.736 + 0.656 = $3.90 Mil.
Total Current Assets was $0.00 Mil.
Total Assets was $0.00 Mil.
Property, Plant and Equipment(Net PPE) was $0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.19 Mil.
Selling, General, & Admin. Expense(SGA) was $5.29 Mil.
Total Current Liabilities was $0.00 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 Mil.

1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Total Receivables in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI	=	(Receivables_t / Revenue_t)	/	(Receivables_t-1 / Revenue_t-1)
	=	(2.913 / 6.114)	/	(0 / 4.77)
	=	0.476447	/	0
	=

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI	=	GrossMargin_t-1	/	GrossMargin_t
	=	(GrossProfit_t-1 / Revenue_t-1)	/	(GrossProfit_t / Revenue_t)
	=	(3.895 / 4.77)	/	(5.343 / 6.114)
	=	0.816562	/	0.873896
	=

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI	=	(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t)	/	(1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
	=	(1 - (3.798 + 1.393) / 5.814)	/	(1 - (0 + 0) / 0)
	=	0.107155	/
	=

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.

SGI	=	Sales_t	/	Sales_t-1
	=	Revenue_t	/	Revenue_t-1
	=	6.114	/	4.77
	=

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.

DEPI	=	(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1))	/	(Depreciation_t / (Depreciaton_t + PPE_t))
	=	(0.188 / (0.188 + 0))	/	(0.255 / (0.255 + 1.393))
	=	1	/	0.154733
	=

Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.

6. SGAI = Sales, General and Administrative expenses Index

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI	=	(SGA_t / Sales_t)	/	(SGA_t-1 /Sales_t-1)
	=	(10.585 / 6.114)	/	(5.285 / 4.77)
	=	1.731272	/	1.107966
	=

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI	=	((LTD_t + CurrentLiabilities_t) / TotalAssets_t)	/	((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
	=	((1.41 + 7.907) / 5.814)	/	((0 + 0) / 0)
	=	1.602511	/
	=

8. TATA = Total Accruals to Total Assets

Total accruals calculated as the change in working capital accounts other than cash less depreciation.

TATA	=	(IncomefromContinuingOperations_t	-	CashFlowsfromOperations_t)	/	TotalAssets_t
	=	(NetIncome_t - NonOperatingIncome_t	-	CashFlowsfromOperations_t)	/	TotalAssets_t
	=	(-5.737 - 0.103	-	-0.664)	/	5.814
	=	-0.890265

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

BioStem Technologies Beneish M-Score Related Terms

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BioStem Technologies (BioStem Technologies) Business Description

Industry

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Traded in Other Exchanges

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Address

2836 Center Port Circle, Pompano Beach, FL, USA, 33064

Website

https://www.biostemtechnologies.com

BioStem Technologies Inc is a regenerative biotechnology company focused on harnessing elements of perinatal tissue and the body's innate biology to repair or reverse damage caused by a broad range of degenerative diseases. Its proprietary approach, Local MicroEnvironment Activation, uses combinations of Small Molecules, Cytokines, and Growth Factors to activate the microenvironment within the body to create communication for repair in the tissue. The Company offers a comprehensive portfolio of high-quality brands that are trademarked and include RHEO, AEON, OROPRO, VENDAJE, VENDAJE AC, and VENDAJE OPTIC.